FARMINGTON Mortgage Rates & Closing Costs

  • JUMP TO:
  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Market Conditions & Pricing
  • Time on Market/Property Size
  • Rent Data
  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Farmington averaged 6.85% for the week of 2024-11-14, compared to the national average of 6.78% for the same period.

    The average rate for the prior week (2024-11-07) was 6.96% and one month ago for the week of 2024-10-10, the average rate was 6.39%.

    Farmington's average rate one year ago was 7.67%.

    For refis of the same type during the week of 2024-11-14, the average rate was 7.08%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-11-14 6.78%
    Farmington 30 Year Fixed Rate 2024-11-14 6.85%
    Farmington 30 Year Fixed Rate Refi 2024-11-14 7.08%
    Farmington 15 Year Fixed Rate 2024-11-14 5.79%
    Farmington 15 Year Fixed Rate Refi 2024-11-14 6.29%
    Farmington 30 Year FHA 2024-11-14 -0.28%
    Farmington 30 Year FHA Refi 2024-11-14 -0.2%
    Farmington 30 Year USDA 2024-11-14 0.2%
    Farmington 30 Year USDA Refi 2024-11-14 0.1%
    Farmington 30 Year VA 2024-11-14 0.26%
    Farmington 30 Year VA Refi 2024-11-14 -0.1%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within FARMINGTON, NM.

    FARMINGTON Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the FARMINGTON, NM market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    AMCAP MORTGAGE, LTD. 68 6.79% $7,038
    UNITED WHOLESALE MORTGAGE, LLC 39 6.91% $4,637
    QUICKEN LOANS, LLC 31 6.76% $6,810
    CORNERSTONE HOME LENDING, INC. 31 6.84% $7,297
    GUILD MORTGAGE COMPANY 25 7.00% $6,606
    Wells Fargo Bank 12 6.77% $5,768
    Waterstone Mortgage Corporation 10 6.45% $5,347
    Zions Bank 6 7.08% $3,902
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.17% $8,894
    Century Mortgage Company DBA Century Lending Company 5 7.25% $5,468
    MICHIGAN MUTUAL, INC. 5 7.19% $7,844
    SANDIA LABORATORY 4 6.13% $2,075
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.69% $6,038
    First Financial Credit Union 4 6.25% $3,793
    JPMorgan Chase Bank 4 7.09% $5,548
    Mortgage Research Center, LLC 4 7.06% $5,734
    LOANDEPOT.COM, LLC 4 6.65% $7,788
    21ST MORTGAGE CORPORATION 3 8.28% $5,074
    American Mortgage & Equity Consultants, Inc. 3 7.87% $9,303
    AMERICAN FINANCING CORPORATION 3 6.17% $5,745
    BROKER SOLUTIONS, INC. 3 6.88% $6,024
    The Huntington National Bank 2 7.00% $4,478
    ACADEMY MORTGAGE CORPORATION 2 6.69% $6,670
    CHURCHILL MORTGAGE CORPORATION 2 7.18% $3,289
    CMG MORTGAGE, INC. 2 6.13% $6,072
    Flanagan State Bank 2 7.19% $4,649
    FREEDOM MORTGAGE CORPORATION 2 7.63% $8,684
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 7.31% $4,516
    Mr. Cooper ( Nationstar Mortgage ) 2 6.49% $9,676
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.62% $5,198
    NAVY FEDERAL CREDIT UNION 2 6.88% $3,463
    NEWREZ LLC 2 7.25% $9,403
    PENNYMAC LOAN SERVICES, LLC 2 6.56% $9,721
    U.S. Bank 2 7.19% $3,981
    DELMAR FINANCIAL COMPANY 1 6.99% $4,436
    LAKEVIEW LOAN SERVICING, LLC 1 6.99% $9,090
    Citibank 1 6.13% $3,024
    CHERRY CREEK MORTGAGE, LLC 1 6.50% $895
    BOKF 1 7.38% $2,493
    BMO Harris Bank 1 5.88% $5,207
    Arvest Bank 1 7.75% $5,401
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $3,326
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.38% $8,864
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 8.75% $7,398
    NBH Bank 1 6.25% $8,407
    ARC HOME LLC 1 7.88% $15,250
    Northpointe Bank 1 5.88% $7,190
    Northwest Farm Credit Services, FLCA 1 6.85% $7,896
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.99% $4,026
    Old National Bank 1 6.63% $4,625
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $9,344
    PENTAGON FEDERAL CREDIT UNION 1 6.38% $3,477
    PHH Mortgage Corporation 1 5.88% $5,112
    PREMIA MORTGAGE, LLC 1 6.35% $1,142
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.88% $10,635
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.63% $9,948
    Prosperity Home Mortgage, LLC 1 7.63% $9,600
    Barrington Bank & Trust Company, N.A. 1 7.25% $3,902
    Raymond James Bank 1 5.88% $2,987
    ROYAL UNITED MORTGAGE LLC 1 6.75% $7,279
    Bank of Colorado 1 6.38% $4,052
    First-Citizens Bank & Trust Company 1 5.37% $2,649
    First Western Bank & Trust 1 6.38% $4,704
    ASSEMBLIES OF GOD Credit Union 1 6.62% $3,295
    Truist 1 6.87% $4,122
    GUARANTEED RATE AFFINITY, LLC 1 6.75% $300
    GUARANTEED RATE, INC. 1 5.88% $5,957
    Farmers Bank & Trust 1 6.88% $3,974
    UNITED 1 7.38% $3,550
    INTERCAP LENDING INC. 1 8.50% $3,176

    FARMINGTON Average Closing Costs & Other Stats

    FARMINGTON, NM's 70 lenders originated 1,269 loans during 2023. The total origination value was $232,545,000, with an average loan value of $183,251.

    FARMINGTON's average closing costs are $5,902.

    The top FARMINGTON lender as defined by loan originations is AMCAP MORTGAGE, LTD., with 68 loans originated. Their average total fees are $7,038, which is $2,401 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee FARMINGTON lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($4,637), Waterstone Mortgage Corporation ($5,347), Wells Fargo Bank ($5,768), GUILD MORTGAGE COMPANY ($6,606) and QUICKEN LOANS, LLC ($6,810).

    The lowest rate FARMINGTON lenders (with over 10 loans originated) are Waterstone Mortgage Corporation (6.45%), QUICKEN LOANS, LLC (6.76%), Wells Fargo Bank (6.77%), AMCAP MORTGAGE, LTD. (6.79%) and CORNERSTONE HOME LENDING, INC. (6.84%).

    FARMINGTON, NM Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    AMCAP MORTGAGE, LTD. $35,555,000 $35,810,000 0.7% 15.4%
    CORNERSTONE HOME LENDING, INC. $26,330,000 $27,480,000 4.4% 11.8%
    GUILD MORTGAGE COMPANY $12,160,000 $15,625,000 28.5% 6.7%
    QUICKEN LOANS, LLC $23,980,000 $14,595,000 -39.1% 6.3%
    UNITED WHOLESALE MORTGAGE, LLC $21,615,000 $14,555,000 -32.7% 6.3%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $22,645,000 $12,495,000 -44.8% 5.4%
    The Citizens Bank $20,895,000 $10,285,000 -50.8% 4.4%
    Mortgage Research Center, LLC $9,570,000 $8,210,000 -14.2% 3.5%
    Waterstone Mortgage Corporation $12,635,000 $7,760,000 -38.6% 3.3%
    21ST MORTGAGE CORPORATION $5,200,000 $4,575,000 -12.0% 2.0%
    Century Mortgage Company DBA Century Lending Company $11,140,000 $4,120,000 -63.0% 1.8%
    Wells Fargo Bank $6,010,000 $3,590,000 -40.3% 1.5%
    SANDIA LABORATORY $2,520,000 $3,335,000 32.3% 1.4%
    LOANDEPOT.COM, LLC $7,605,000 $2,945,000 -61.3% 1.3%
    MID AMERICA MORTGAGE, INC. $7,850,000 $2,655,000 -66.2% 1.1%
    NAVY FEDERAL CREDIT UNION $2,600,000 $2,640,000 1.5% 1.1%
    Zions Bank $3,630,000 $2,590,000 -28.7% 1.1%
    Bank of Colorado $1,045,000 $2,445,000 134.0% 1.1%
    Bank of the Southwest $2,215,000 n/a 1.0%
    MICHIGAN MUTUAL, INC. $3,295,000 $1,930,000 -41.4% 0.8%
    VANDERBILT MORTGAGE AND FINANCE, INC. $1,480,000 $1,775,000 19.9% 0.8%
    U.S. EAGLE $820,000 $1,530,000 86.6% 0.7%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $870,000 $1,515,000 74.1% 0.7%
    Mr. Cooper ( Nationstar Mortgage ) $4,825,000 $1,450,000 -69.9% 0.6%
    PENNYMAC LOAN SERVICES, LLC $3,645,000 $1,400,000 -61.6% 0.6%
    AMERISAVE MORTGAGE CORPORATION $3,655,000 $1,280,000 -65.0% 0.6%
    BROKER SOLUTIONS, INC. $2,310,000 $1,215,000 -47.4% 0.5%
    NEWREZ LLC $580,000 $1,195,000 106.0% 0.5%
    FREEDOM MORTGAGE CORPORATION $2,930,000 $1,150,000 -60.8% 0.5%
    JPMorgan Chase Bank $1,035,000 $1,100,000 6.3% 0.5%
    American Mortgage & Equity Consultants, Inc. $1,095,000 n/a 0.5%
    U.S. Bank $980,000 $1,015,000 3.6% 0.4%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $880,000 $975,000 10.8% 0.4%
    Truist $135,000 $950,000 603.7% 0.4%
    BOKF $1,070,000 $890,000 -16.8% 0.4%
    SUN WEST MORTGAGE COMPANY, INC. $760,000 n/a 0.3%
    The Huntington National Bank $465,000 $760,000 63.4% 0.3%
    Magnolia Bank $730,000 n/a 0.3%
    PLANET HOME LENDING, LLC $430,000 $690,000 60.5% 0.3%
    CARDINAL FINANCIAL $1,295,000 $675,000 -47.9% 0.3%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $1,170,000 $670,000 -42.7% 0.3%
    Carrington Mortgage Services, LLC $1,220,000 $635,000 -48.0% 0.3%
    NFM, INC. $620,000 n/a 0.3%
    USAA Federal Savings Bank $1,670,000 $620,000 -62.9% 0.3%
    BMO Harris Bank $215,000 $595,000 176.7% 0.3%
    NBH Bank $255,000 $580,000 127.5% 0.2%
    CMG MORTGAGE, INC. $1,910,000 $575,000 -69.9% 0.2%
    Flanagan State Bank $1,295,000 $565,000 -56.4% 0.2%
    ARC HOME LLC $555,000 n/a 0.2%
    Bank of America $2,150,000 $540,000 -74.9% 0.2%
    First Western Bank & Trust $535,000 n/a 0.2%
    AMERICAN FINANCIAL NETWORK, INC. $530,000 n/a 0.2%
    CROSSCOUNTRY MORTGAGE, LLC $970,000 $530,000 -45.4% 0.2%
    First Financial Credit Union $1,120,000 $515,000 -54.0% 0.2%
    AMERICAN FINANCING CORPORATION $2,110,000 $510,000 -75.8% 0.2%
    LAKEVIEW LOAN SERVICING, LLC $1,380,000 $510,000 -63.0% 0.2%
    NEW DAY FINANCIAL, LLC $1,730,000 $500,000 -71.1% 0.2%
    PNC Bank $405,000 $495,000 22.2% 0.2%
    Barrington Bank & Trust Company, N.A. $235,000 $465,000 97.9% 0.2%
    AMERICAN PACIFIC MORTGAGE CORPORATION $460,000 n/a 0.2%
    Northwest Farm Credit Services, FLCA $445,000 n/a 0.2%
    CHURCHILL MORTGAGE CORPORATION $400,000 $435,000 8.8% 0.2%
    The Federal Savings Bank $1,420,000 $430,000 -69.7% 0.2%
    Chickasaw Community Bank $205,000 $420,000 104.9% 0.2%
    Loan Simple, Inc. $350,000 $405,000 15.7% 0.2%
    PENTAGON FEDERAL CREDIT UNION $525,000 $405,000 -22.9% 0.2%
    Raymond James Bank $405,000 n/a 0.2%
    DELMAR FINANCIAL COMPANY $395,000 n/a 0.2%
    Discover Bank $245,000 $395,000 61.2% 0.2%
    NBKC BANK $265,000 $395,000 49.1% 0.2%
    Arvest Bank $385,000 n/a 0.2%
    GUARANTEED RATE, INC. $500,000 $380,000 -24.0% 0.2%
    Old National Bank $375,000 n/a 0.2%
    PHH Mortgage Corporation $370,000 n/a 0.2%
    First-Citizens Bank & Trust Company $355,000 n/a 0.2%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $355,000 n/a 0.2%
    Prosperity Home Mortgage, LLC $355,000 n/a 0.2%
    UNITED SECURITY FINANCIAL CORP $355,000 n/a 0.2%
    MUTUAL OF OMAHA MORTGAGE, INC. $960,000 $350,000 -63.5% 0.2%
    CLEARPATH LENDING $255,000 $345,000 35.3% 0.1%
    ACADEMY MORTGAGE CORPORATION $1,645,000 $340,000 -79.3% 0.1%
    The Central Trust Bank $1,210,000 $335,000 -72.3% 0.1%
    CONTOUR MORTGAGE CORPORATION $330,000 n/a 0.1%
    Secured Investment Corp. $330,000 n/a 0.1%
    First National Bank Texas $325,000 n/a 0.1%
    Plains Commerce Bank $325,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $1,270,000 $325,000 -74.4% 0.1%
    Commerce Home Mortgage, Inc. $765,000 $315,000 -58.8% 0.1%
    GUARANTEED RATE AFFINITY, LLC $315,000 n/a 0.1%
    NOVA FINANCIAL & INVESTMENT CORPORATION $295,000 n/a 0.1%
    V.I.P. MORTGAGE, INC. $1,685,000 $290,000 -82.8% 0.1%
    MORTGAGEONE, INC. $285,000 $285,000 0.0% 0.1%
    TOP FLITE FINANCIAL, INC. $615,000 $285,000 -53.7% 0.1%
    AMWEST FUNDING CORP. $265,000 n/a 0.1%
    PREMIA MORTGAGE, LLC $265,000 $265,000 0.0% 0.1%
    ROYAL UNITED MORTGAGE LLC $125,000 $265,000 112.0% 0.1%
    Nations Lending Corporation $1,515,000 $260,000 -82.8% 0.1%
    ASSEMBLIES OF GOD Credit Union $255,000 n/a 0.1%
    UNITED $245,000 n/a 0.1%
    VERITAS FUNDING, LLC $245,000 n/a 0.1%
    Coastal Community Bank $240,000 n/a 0.1%
    CHERRY CREEK MORTGAGE, LLC $650,000 $235,000 -63.8% 0.1%
    DRAPER AND KRAMER MORTGAGE CORP. $235,000 n/a 0.1%
    SOUTHWEST STAGE FUNDING, LLC $230,000 n/a 0.1%
    Farmers Bank & Trust $225,000 n/a 0.1%
    Northpointe Bank $225,000 n/a 0.1%
    PACIFIC RESIDENTIAL MORTGAGE, LLC $225,000 n/a 0.1%
    BETTER MORTGAGE CORPORATION $1,355,000 $215,000 -84.1% 0.1%
    Figure Lending LLC $190,000 $210,000 10.5% 0.1%
    NUSENDA $245,000 $205,000 -16.3% 0.1%
    MASON MCDUFFIE MORTGAGE CORPORATION $200,000 n/a 0.1%
    Washington Federal Bank $565,000 $200,000 -64.6% 0.1%
    INTERCAP LENDING INC. $355,000 $185,000 -47.9% 0.1%
    RELIANCE FIRST CAPITAL, LLC $525,000 $175,000 -66.7% 0.1%
    LONGBRIDGE FINANCIAL, LLC $345,000 $165,000 -52.2% 0.1%
    SUN AMERICAN MORTGAGE COMPANY $165,000 n/a 0.1%
    AMERICAN HERITAGE LENDING, INC. $155,000 n/a 0.1%
    AMERICA FIRST $75,000 $150,000 100.0% 0.1%
    NATIONWIDE MORTGAGE BANKERS, INC. $145,000 n/a 0.1%
    FINANCE OF AMERICA REVERSE LLC $185,000 $140,000 -24.3% 0.1%
    MOUNTAIN AMERICA $525,000 $130,000 -75.2% 0.1%
    SPRING EQ, LLC $55,000 $130,000 136.4% 0.1%
    Goldwater Bank, N.A. $165,000 $125,000 -24.2% 0.1%
    CIS Financial Services, Inc. $115,000 n/a 0.0%
    Flagstar Bank, FSB $1,590,000 $105,000 -93.4% 0.0%
    Citibank $95,000 n/a 0.0%
    CREDIT HUMAN FEDERAL CREDIT UNION $180,000 $95,000 -47.2% 0.0%
    COUNTRYPLACE MORTGAGE, LTD. $55,000 $85,000 54.5% 0.0%
    CREDIT UNION MORTGAGE ASSOCIATION, INC. $270,000 $75,000 -72.2% 0.0%
    Morgan Stanley Private Bank $565,000 $75,000 -86.7% 0.0%
    Citizens Bank $55,000 n/a 0.0%
    FARMERS INSURANCE GROUP FEDERAL CREDIT UNION $55,000 n/a 0.0%
    Firefighters First Federal Credit Union $55,000 n/a 0.0%

    FARMINGTON's top lender by overall market share is AMCAP MORTGAGE, LTD., with 15.4% market share. In second place, with 11.8%, is CORNERSTONE HOME LENDING, INC., having originated $27,480,000 in loans. In third place, with 6.7%, is GUILD MORTGAGE COMPANY, having originated $15,625,000 in loans. In fourth place, with 6.3%, is QUICKEN LOANS, LLC, having originated $14,595,000 in loans. In fifth place, with 6.3%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $14,555,000 in loans.

    FARMINGTON Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - FARMINGTON (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $207,500 (-0.7%) $247,120 (-1.3%) 0.00 487
    2018-02-01 $204,919 (-2.2%) $243,690 (-3.3%) 0.00 481
    2018-03-01 $204,900 (-3.0%) $245,070 (-2.9%) 0.00 486
    2018-04-01 $199,694 (-7.1%) $243,662 (-5.3%) 0.00 520
    2018-05-01 $199,900 (-7.1%) $248,491 (-3.3%) 0.00 537
    2018-06-01 $208,000 (-3.3%) $250,099 (-2.1%) 0.00 548
    2018-07-01 $209,350 (-2.6%) $249,946 (-3.2%) 0.00 533
    2018-08-01 $209,850 (0.0%) $252,485 (-0.7%) 0.00 528
    2018-09-01 $210,000 (0.0%) $257,836 (1.0%) 0.00 524
    2018-10-01 $209,000 (-0.5%) $253,824 (-0.5%) 0.00 540
    2018-11-01 $208,975 (0.5%) $251,798 (-0.8%) 0.00 517
    2018-12-01 $214,000 (7.1%) $250,727 (0.8%) 0.00 486
    2019-01-01 $214,444 (3.4%) $249,226 (0.9%) 0.00 446
    2019-02-01 $209,950 (2.5%) $243,667 (0.0%) 0.00 453
    2019-03-01 $216,243 (5.5%) $253,949 (3.6%) 0.00 455
    2019-04-01 $219,900 (10.1%) $264,386 (8.5%) 0.00 456
    2019-05-01 $219,950 (10.0%) $262,555 (5.7%) 0.00 462
    2019-06-01 $219,900 (5.7%) $261,516 (4.6%) 0.00 481
    2019-07-01 $219,000 (4.6%) $260,698 (4.3%) 0.00 507
    2019-08-01 $218,651 (4.2%) $261,060 (3.4%) 0.00 503
    2019-09-01 $216,879 (3.3%) $260,099 (0.9%) 0.00 495
    2019-10-01 $215,250 (3.0%) $258,068 (1.7%) 0.00 486
    2019-11-01 $215,000 (2.9%) $259,529 (3.1%) 0.00 434
    2019-12-01 $215,000 (0.5%) $261,925 (4.5%) 0.00 398
    2020-01-01 $209,950 (-2.1%) $259,907 (4.3%) 0.00 366
    2020-02-01 $209,650 (-0.1%) $258,307 (6.0%) 0.00 381
    2020-03-01 $209,925 (-2.9%) $257,516 (1.4%) 0.00 394
    2020-04-01 $210,000 (-4.5%) $263,799 (-0.2%) 0.00 388
    2020-05-01 $218,000 (-0.9%) $270,178 (2.9%) 0.00 364
    2020-06-01 $209,950 (-4.5%) $260,280 (-0.5%) 0.00 353
    2020-07-01 $212,450 (-3.0%) $258,303 (-0.9%) 0.00 375
    2020-08-01 $209,900 (-4.0%) $255,794 (-2.0%) 0.00 370
    2020-09-01 $204,900 (-5.5%) $259,136 (-0.4%) 0.00 335
    2020-10-01 $205,375 (-4.6%) $266,758 (3.4%) 0.00 311
    2020-11-01 $207,000 (-3.7%) $260,486 (0.4%) 0.00 290
    2020-12-01 $202,750 (-5.7%) $255,716 (-2.4%) 0.00 273
    2021-01-01 $205,000 (-2.4%) $253,691 (-2.4%) 0.00 245
    2021-02-01 $208,000 (-0.8%) $263,302 (1.9%) 0.00 252
    2021-03-01 $213,500 (1.7%) $265,077 (2.9%) 0.00 237
    2021-04-01 $211,388 (0.7%) $273,405 (3.6%) 0.00 203
    2021-05-01 $219,900 (0.9%) $295,832 (9.5%) 0.00 207
    2021-06-01 $222,000 (5.7%) $320,693 (23.2%) 0.00 200
    2021-07-01 $222,375 (4.7%) $330,029 (27.8%) 0.00 206
    2021-08-01 $225,000 (7.2%) $335,741 (31.3%) 0.00 212
    2021-09-01 $230,550 (12.5%) $330,997 (27.7%) 0.00 218
    2021-10-01 $245,000 (19.3%) $360,150 (35.0%) 0.00 193
    2021-11-01 $259,447 (25.3%) $363,665 (39.6%) 0.00 185
    2021-12-01 $272,250 (34.3%) $368,971 (44.3%) 0.00 163
    2022-01-01 $289,900 (41.4%) $394,179 (55.4%) 0.00 116
    2022-02-01 $273,450 (31.5%) $375,491 (42.6%) 0.00 111
    2022-03-01 $261,750 (22.6%) $345,694 (30.4%) 0.00 117
    2022-04-01 $299,900 (41.9%) $410,833 (50.3%) 0.00 115
    2022-05-01 $318,725 (44.9%) $432,891 (46.3%) 0.00 108
    2022-06-01 $317,700 (43.1%) $404,742 (26.2%) 0.00 144
    2022-07-01 $287,450 (29.3%) $381,989 (15.7%) 0.00 148
    2022-08-01 $299,000 (32.9%) $405,702 (20.8%) 0.00 131
    2022-09-01 $300,725 (30.4%) $425,187 (28.5%) 0.00 113
    2022-10-01 $299,000 (22.0%) $385,715 (7.1%) 0.00 102
    2022-11-01 $302,225 (16.5%) $404,226 (11.2%) 0.00 98
    2022-12-01 $285,000 (4.7%) $405,744 (10.0%) 0.00 96
    2023-01-01 $320,000 (10.4%) $429,925 (9.1%) 0.00 85
    2023-02-01 $349,500 (27.8%) $486,999 (29.7%) 0.00 66
    2023-03-01 $350,000 (33.7%) $477,746 (38.2%) 0.00 66
    2023-04-01 $342,000 (14.0%) $466,954 (13.7%) 0.00 69
    2023-05-01 $333,925 (4.8%) $464,500 (7.3%) 0.00 89
    2023-06-01 $330,000 (3.9%) $456,319 (12.7%) 0.00 107
    2023-07-01 $333,750 (16.1%) $476,929 (24.9%) 0.00 121
    2023-08-01 $350,000 (17.1%) $502,342 (23.8%) 0.00 127
    2023-09-01 $349,950 (16.4%) $477,738 (12.4%) 0.00 140
    2023-10-01 $338,250 (13.1%) $478,104 (24.0%) 0.00 146
    2023-11-01 $337,500 (11.7%) $460,199 (13.9%) 0.00 148
    2023-12-01 $332,400 (16.6%) $468,760 (15.5%) 0.00 137
    2024-01-01 $335,550 (4.9%) $453,342 (5.5%) 0.00 120
    2024-02-01 $349,975 (0.1%) $465,005 (-4.5%) 0.00 110
    2024-03-01 $349,900 (0.0%) $451,133 (-5.6%) 0.00 106
    2024-04-01 $359,700 (5.2%) $494,041 (5.8%) 0.00 94
    2024-05-01 $394,900 (18.3%) $539,537 (16.2%) 0.00 104
    2024-06-01 $380,000 (15.2%) $505,321 (10.7%) 0.00 113
    2024-07-01 $393,575 (17.9%) $498,362 (4.5%) 0.00 125
    2024-08-01 $397,000 (13.4%) $497,279 (-1.0%) 0.00 131
    2024-09-01 $402,900 (15.1%) $511,341 (7.0%) 0.00 146
    2024-10-01 $389,350 (15.1%) $508,841 (6.4%) 0.00 157
    FARMINGTON's median listing price for 2024-10-01 was $389,350, a difference of $51,100 (15.1%) versus the prior year and $-13,550 versus the prior month.

    FARMINGTON's median listing price comes in at 0% of the national average.

    FARMINGTON's average listing price for 2024-10-01 was $508,841, a difference of $30,737 (6.4%) versus the prior year and $-2,500 versus the prior month.

    For the 2024-10-01 period, FARMINGTON had 157 MLS listings, a difference of 11 listings (8%) versus the prior month and 11 listings (8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - FARMINGTON (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,812 sqft
    2018-02-01 0 days 1,796 sqft
    2018-03-01 0 days 1,803 sqft
    2018-04-01 0 days 1,782 sqft
    2018-05-01 0 days 1,818 sqft
    2018-06-01 0 days 1,864 sqft
    2018-07-01 0 days 1,864 sqft
    2018-08-01 0 days 1,881 sqft
    2018-09-01 0 days 1,895 sqft
    2018-10-01 0 days 1,886 sqft
    2018-11-01 0 days 1,897 sqft
    2018-12-01 0 days 1,901 sqft
    2019-01-01 0 days 1,866 sqft
    2019-02-01 0 days 1,820 sqft
    2019-03-01 0 days 1,848 sqft
    2019-04-01 0 days 1,889 sqft
    2019-05-01 0 days 1,885 sqft
    2019-06-01 0 days 1,883 sqft
    2019-07-01 0 days 1,876 sqft
    2019-08-01 0 days 1,867 sqft
    2019-09-01 0 days 1,850 sqft
    2019-10-01 0 days 1,829 sqft
    2019-11-01 0 days 1,838 sqft
    2019-12-01 0 days 1,881 sqft
    2020-01-01 0 days 1,885 sqft
    2020-02-01 0 days 1,838 sqft
    2020-03-01 0 days 1,812 sqft
    2020-04-01 0 days 1,842 sqft
    2020-05-01 0 days 1,901 sqft
    2020-06-01 0 days 1,863 sqft
    2020-07-01 0 days 1,848 sqft
    2020-08-01 0 days 1,792 sqft
    2020-09-01 0 days 1,770 sqft
    2020-10-01 0 days 1,816 sqft
    2020-11-01 0 days 1,799 sqft
    2020-12-01 0 days 1,717 sqft
    2021-01-01 0 days 1,702 sqft
    2021-02-01 0 days 1,827 sqft
    2021-03-01 0 days 1,853 sqft
    2021-04-01 0 days 1,795 sqft
    2021-05-01 0 days 1,782 sqft
    2021-06-01 0 days 1,790 sqft
    2021-07-01 0 days 1,763 sqft
    2021-08-01 0 days 1,767 sqft
    2021-09-01 0 days 1,778 sqft
    2021-10-01 0 days 1,887 sqft
    2021-11-01 0 days 1,954 sqft
    2021-12-01 0 days 1,972 sqft
    2022-01-01 0 days 2,005 sqft
    2022-02-01 0 days 1,942 sqft
    2022-03-01 0 days 1,844 sqft
    2022-04-01 0 days 2,004 sqft
    2022-05-01 0 days 2,056 sqft
    2022-06-01 0 days 2,052 sqft
    2022-07-01 0 days 1,916 sqft
    2022-08-01 0 days 2,019 sqft
    2022-09-01 0 days 2,078 sqft
    2022-10-01 0 days 2,027 sqft
    2022-11-01 0 days 2,043 sqft
    2022-12-01 0 days 1,950 sqft
    2023-01-01 0 days 2,000 sqft
    2023-02-01 0 days 2,031 sqft
    2023-03-01 0 days 2,030 sqft
    2023-04-01 0 days 1,995 sqft
    2023-05-01 0 days 1,952 sqft
    2023-06-01 0 days 1,973 sqft
    2023-07-01 0 days 1,992 sqft
    2023-08-01 0 days 2,081 sqft
    2023-09-01 0 days 2,114 sqft
    2023-10-01 0 days 2,028 sqft
    2023-11-01 0 days 2,019 sqft
    2023-12-01 0 days 2,000 sqft
    2024-01-01 0 days 1,932 sqft
    2024-02-01 0 days 2,086 sqft
    2024-03-01 0 days 2,005 sqft
    2024-04-01 0 days 2,014 sqft
    2024-05-01 0 days 2,075 sqft
    2024-06-01 0 days 2,034 sqft
    2024-07-01 0 days 2,178 sqft
    2024-08-01 0 days 2,189 sqft
    2024-09-01 0 days 2,308 sqft
    2024-10-01 0 days 2,132 sqft
    FARMINGTON's median listing age (time on market) for 2024-10-01 was 0 days.

    FARMINGTON's median square footage for active listings during the 2024-10-01 period was 2,132 sqft. One year prior, the average listing was 2,028 sqft.

    FARMINGTON, NM Average Rent (2023)

    Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

    For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
    Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
    81137 Farmington, NM MSA $880 $900 $1,060 $1,490 $1,620
    87013 Farmington, NM MSA $660 $740 $900 $1,280 $1,540
    87037 Farmington, NM MSA $660 $670 $800 $1,120 $1,220
    87313 Farmington, NM MSA $660 $670 $800 $1,120 $1,220
    87325 Farmington, NM MSA $660 $670 $800 $1,120 $1,220
    87328 Farmington, NM MSA $660 $670 $800 $1,120 $1,220
    87364 Farmington, NM MSA $660 $670 $800 $1,120 $1,220
    87401 Farmington, NM MSA $830 $850 $1,000 $1,400 $1,530
    87402 Farmington, NM MSA $980 $1,000 $1,180 $1,660 $1,810
    87410 Farmington, NM MSA $750 $760 $900 $1,260 $1,380
    87412 Farmington, NM MSA $720 $730 $870 $1,220 $1,330
    87413 Farmington, NM MSA $700 $710 $840 $1,180 $1,280
    87415 Farmington, NM MSA $860 $880 $1,040 $1,460 $1,590
    87416 Farmington, NM MSA $920 $940 $1,110 $1,560 $1,700
    87417 Farmington, NM MSA $720 $730 $860 $1,210 $1,320
    87418 Farmington, NM MSA $660 $670 $800 $1,120 $1,220
    87419 Farmington, NM MSA $840 $860 $1,010 $1,420 $1,550
    87420 Farmington, NM MSA $660 $670 $800 $1,120 $1,220
    87421 Farmington, NM MSA $850 $870 $1,030 $1,450 $1,570
    87455 Farmington, NM MSA $660 $670 $800 $1,120 $1,220
    87461 Farmington, NM MSA $660 $670 $800 $1,120 $1,220
    87499 Farmington, NM MSA $700 $720 $850 $1,190 $1,290

    2022 Average & Median Rent Data Statistics
    FARMINGTON, NM average 1BR rent: $760, median: $725
    FARMINGTON, NM average 2BR rent: $902, median: $855
    FARMINGTON, NM average 3BR rent: $1,266, median: $1,200

    FARMINGTON, NM Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 925 $183,715,000 $198,611
    Cash Out Refi 168 $29,230,000 $173,988
    Other 75 $5,405,000 $72,067
    Refi 66 $11,160,000 $169,091
    Home Improvement 35 $3,035,000 $86,714

    Farmington's most frequently cited loan purpose was Home Purchase, with 925 originations. The 2nd most popular reason was Cash Out Refi, with 168 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 401 $91,515,000 $228,217
    7-8% 276 $61,200,000 $221,739
    Over 8% 261 $15,715,000 $60,211
    5-6% 226 $47,020,000 $208,053
    <2.5% 15 $255,000 $17,000
    4-5% 10 $2,500,000 $250,000
    3-4% 1 $215,000 $215,000
    2.5-3% 1 $95,000 $95,000

    During 2023, Farmington's most frequently originated rate bucket was 6-7%, with 401 originations.

    Loan Sizing (FARMINGTON, NM MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 494 $134,520,000 $272,308
    $100k-200k 372 $57,630,000 $154,919
    $100,000 or less 352 $14,040,000 $39,886
    $400k-600k 45 $21,165,000 $470,333
    $600k-1000k 4 $2,830,000 $707,500
    $Over $1MM 2 $2,360,000 $1,180,000

    FARMINGTON's loan sizing saw the bucket of loans from $200k-400k with 494 originations, totaling $134,520,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 626 $148,590,000 $237,364
    Under 20% 202 $4,310,000 $21,337
    60-80% 179 $38,875,000 $217,179
    40-60% 77 $12,755,000 $165,649
    20-40% 76 $7,010,000 $92,237
    Over 100% 23 $6,495,000 $282,391

    FARMINGTON's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 626 originations, totaling $148,590,000 in origination value.