FARMINGTON Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Farmington averaged 6.79% for the week of 2025-04-03, compared to the national average of 6.64% for the same period.

The average rate for the prior week (2025-03-27) was 7.1% and one month ago for the week of 2025-02-27, the average rate was 6.91%.

Farmington's average rate one year ago was 7.24%.

For refis of the same type during the week of 2025-04-03, the average rate was 6.84%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-04-03 6.64%
Farmington 30 Year Fixed Rate 2025-04-03 6.79%
Farmington 30 Year Fixed Rate Refi 2025-04-03 6.84%
Farmington 15 Year Fixed Rate 2025-04-03 5.82%
Farmington 15 Year Fixed Rate Refi 2025-04-03 6.12%
Farmington 30 Year FHA 2025-04-03 6.5%
Farmington 30 Year FHA Refi 2025-04-03 6.46%
Farmington 30 Year USDA 2025-04-03 6.22%
Farmington 30 Year USDA Refi 2025-04-03 6.12%
Farmington 30 Year VA 2025-04-03 6.03%
Farmington 30 Year VA Refi 2025-04-03 6.16%
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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
QUICKEN LOANS, LLC 50 6.66% $7,155
V.I.P. MORTGAGE, INC. 43 6.96% $6,705
UNITED WHOLESALE MORTGAGE, LLC 41 6.81% $6,912
GUILD MORTGAGE COMPANY 29 7.00% $6,837
CORNERSTONE HOME LENDING, INC. 20 6.88% $6,158
Waterstone Mortgage Corporation 16 7.09% $7,248
Wells Fargo Bank 10 6.86% $7,677
MORTGAGE SOLUTIONS OF COLORADO, LLC 8 7.45% $8,549
CROSSCOUNTRY MORTGAGE, LLC 8 7.22% $5,356
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 7.09% $6,179
MUTUAL OF OMAHA MORTGAGE, INC. 6 6.14% $4,480
Century Mortgage Company DBA Century Lending Company 6 6.87% $6,399
SANDIA LABORATORY 5 6.53% $2,308
MICHIGAN MUTUAL, INC. 4 6.97% $6,363
21ST MORTGAGE CORPORATION 3 8.86% $5,640
AMERICAN FINANCING CORPORATION 3 6.12% $8,232
NAVY FEDERAL CREDIT UNION 3 6.54% $5,118
Mr. Cooper ( Nationstar Mortgage ) 3 7.75% $11,490
LOANDEPOT.COM, LLC 3 6.91% $8,352
JPMorgan Chase Bank 3 6.75% $4,474
Zions Bank 2 7.19% $6,150
GUARANTEED RATE, INC. 2 6.44% $6,440
Northpointe Bank 2 6.68% $4,087
MOVEMENT MORTGAGE, LLC 1 6.99% $5,299
Nations Lending Corporation 1 6.38% $10,098
NBKC BANK 1 6.38% $2,075
NEWREZ LLC 1 6.50% $8,695
NUSENDA 1 5.38% $4,398
PENNYMAC LOAN SERVICES, LLC 1 6.50% $5,976
PNC Bank 1 6.88% $1,749
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.63% $6,125
RANLIFE, INC. 1 8.00% $7,783
RESIDENTIAL BANCORP 1 7.13% $6,943
STAR ONE CREDIT UNION 1 6.88% $2,222
Stifel Bank and Trust 1 6.13% $3,245
SWBC MORTGAGE CORPORATION 1 6.63% $4,018
The Central Trust Bank 1 7.13% $2,595
The Federal Savings Bank 1 6.88% $2,789
Truist 1 7.13% $4,889
VANDERBILT MORTGAGE AND FINANCE, INC. 1 8.99% $7,420
Washington Federal Bank 1 7.00% $10,478
Wilmington Savings Fund Society, FSB 1 6.38% $8,639
UNION HOME MORTGAGE CORP. 1 7.63% $5,741
AMERISAVE MORTGAGE CORPORATION 1 7.50% $5,547
Bank of America 1 6.38% $5,600
Bank of Colorado 1 7.63% $5,117
BAY EQUITY LLC 1 6.88% $6,674
BELEM SERVICING LLC 1 6.63% $5,053
BETTER MORTGAGE CORPORATION 1 6.00% $8,309
BROKER SOLUTIONS, INC. 1 7.13% $6,464
CALCON MUTUAL MORTGAGE LLC 1 7.13% $5,215
Charles Schwab Bank, SSB 1 6.80% $3,774
CMG MORTGAGE, INC. 1 6.99% $9,620
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 5.25% $8,196
DEEPHAVEN MORTGAGE LLC 1 11.25% $19,462
DIRECTORS MORTGAGE, INC. 1 7.13% $12,434
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.38% $3,976
Farm Credit Mid-America, ACA 1 6.75% $13,680
FIRST COLONY MORTGAGE CORPORATION 1 6.13% $9,354
First Federal Bank 1 7.38% $3,788
Gateway First Bank 1 6.63% $6,166
GUARANTEED RATE AFFINITY, LLC 1 6.25% $68
HOMETRUST MORTGAGE COMPANY 1 7.38% $10,065
Morgan Stanley Private Bank 1 6.30% $3,870
Mortgage Research Center, LLC 1 6.13% $1,989

FARMINGTON Average Closing Costs & Other Stats

FARMINGTON, NM's 65 lenders originated 1,426 loans during 2024. The total origination value was $278,420,000, with an average loan value of $195,245.

FARMINGTON's average closing costs are $6,192.

The top FARMINGTON lender as defined by loan originations is QUICKEN LOANS, LLC, with 50 loans originated. Their average total fees are $7,155, which is $450 higher than the next largest lender, V.I.P. MORTGAGE, INC..

The lowest fee FARMINGTON lenders (with over 10 loans originated) are CORNERSTONE HOME LENDING, INC. ($6,158), V.I.P. MORTGAGE, INC. ($6,705), GUILD MORTGAGE COMPANY ($6,837), UNITED WHOLESALE MORTGAGE, LLC ($6,912) and QUICKEN LOANS, LLC ($7,155).

The lowest rate FARMINGTON lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.66%), UNITED WHOLESALE MORTGAGE, LLC (6.81%), Wells Fargo Bank (6.86%), CORNERSTONE HOME LENDING, INC. (6.88%) and V.I.P. MORTGAGE, INC. (6.96%).

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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
UNITED WHOLESALE MORTGAGE, LLC $14,555,000 $25,465,000 75.0% 9.1%
QUICKEN LOANS, LLC $14,595,000 $22,065,000 51.2% 7.9%
V.I.P. MORTGAGE, INC. $290,000 $21,375,000 7,270.7% 7.7%
GUILD MORTGAGE COMPANY $15,625,000 $19,245,000 23.2% 6.9%
CORNERSTONE HOME LENDING, INC. $27,480,000 $18,685,000 -32.0% 6.7%
The Citizens Bank $10,285,000 $16,010,000 55.7% 5.8%
Waterstone Mortgage Corporation $7,760,000 $15,920,000 105.2% 5.7%
MORTGAGE SOLUTIONS OF COLORADO, LLC $12,495,000 $13,550,000 8.4% 4.9%
Mortgage Research Center, LLC $8,210,000 $9,245,000 12.6% 3.3%
21ST MORTGAGE CORPORATION $4,575,000 $6,920,000 51.3% 2.5%
CROSSCOUNTRY MORTGAGE, LLC $530,000 $6,085,000 1,048.1% 2.2%
Century Mortgage Company DBA Century Lending Company $4,120,000 $5,465,000 32.6% 2.0%
SANDIA LABORATORY $3,335,000 $5,165,000 54.9% 1.9%
CMG MORTGAGE, INC. $575,000 $4,620,000 703.5% 1.7%
Zions Bank $2,590,000 $4,525,000 74.7% 1.6%
FREEDOM MORTGAGE CORPORATION $1,150,000 $4,500,000 291.3% 1.6%
Wells Fargo Bank $3,590,000 $4,415,000 23.0% 1.6%
PENNYMAC LOAN SERVICES, LLC $1,400,000 $3,770,000 169.3% 1.4%
NAVY FEDERAL CREDIT UNION $2,640,000 $3,395,000 28.6% 1.2%
Bank of the Southwest $2,215,000 $3,205,000 44.7% 1.2%
PRIMELENDING, A PLAINSCAPITAL COMPANY $355,000 $3,005,000 746.5% 1.1%
MUTUAL OF OMAHA MORTGAGE, INC. $350,000 $2,770,000 691.4% 1.0%
Bank of Colorado $2,445,000 $2,530,000 3.5% 0.9%
Mr. Cooper ( Nationstar Mortgage ) $1,450,000 $2,490,000 71.7% 0.9%
U.S. EAGLE $1,530,000 $2,475,000 61.8% 0.9%
LOANDEPOT.COM, LLC $2,945,000 $2,330,000 -20.9% 0.8%
NEW DAY FINANCIAL, LLC $500,000 $2,280,000 356.0% 0.8%
VANDERBILT MORTGAGE AND FINANCE, INC. $1,775,000 $1,590,000 -10.4% 0.6%
VILLAGE CAPITAL MORTGAGE $1,495,000 n/a 0.5%
GUARANTEED RATE, INC. $380,000 $1,450,000 281.6% 0.5%
NEWREZ LLC $1,195,000 $1,420,000 18.8% 0.5%
Flanagan State Bank $565,000 $1,375,000 143.4% 0.5%
MID AMERICA MORTGAGE, INC. $2,655,000 $1,310,000 -50.7% 0.5%
Discover Bank $395,000 $1,265,000 220.3% 0.5%
MICHIGAN MUTUAL, INC. $1,930,000 $1,155,000 -40.2% 0.4%
The Federal Savings Bank $430,000 $1,065,000 147.7% 0.4%
MOUNTAIN AMERICA $130,000 $1,060,000 715.4% 0.4%
TOP FLITE FINANCIAL, INC. $285,000 $1,020,000 257.9% 0.4%
LOANPAL, LLC $990,000 n/a 0.4%
Bank of America $540,000 $975,000 80.6% 0.4%
AMERICAN FINANCING CORPORATION $510,000 $965,000 89.2% 0.3%
NBKC BANK $395,000 $940,000 138.0% 0.3%
USAA Federal Savings Bank $620,000 $825,000 33.1% 0.3%
POLARIS HOME FUNDING CORP. $770,000 n/a 0.3%
NUSENDA $205,000 $755,000 268.3% 0.3%
JPMorgan Chase Bank $1,100,000 $735,000 -33.2% 0.3%
LAKEVIEW LOAN SERVICING, LLC $510,000 $695,000 36.3% 0.2%
PENTAGON FEDERAL CREDIT UNION $405,000 $685,000 69.1% 0.2%
Barrington Bank & Trust Company, N.A. $465,000 $650,000 39.8% 0.2%
Glacier Bank $640,000 n/a 0.2%
AmeriHome Mortgage Company, LLC $630,000 n/a 0.2%
PNC Bank $495,000 $625,000 26.3% 0.2%
CALCON MUTUAL MORTGAGE LLC $620,000 n/a 0.2%
DIRECTORS MORTGAGE, INC. $620,000 n/a 0.2%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,515,000 $620,000 -59.1% 0.2%
SUN WEST MORTGAGE COMPANY, INC. $760,000 $610,000 -19.7% 0.2%
Carrington Mortgage Services, LLC $635,000 $600,000 -5.5% 0.2%
Farm Credit Mid-America, ACA $575,000 n/a 0.2%
Northpointe Bank $225,000 $570,000 153.3% 0.2%
First Federal Bank $560,000 n/a 0.2%
Washington Federal Bank $200,000 $545,000 172.5% 0.2%
VERITAS FUNDING, LLC $245,000 $540,000 120.4% 0.2%
BOKF $890,000 $535,000 -39.9% 0.2%
GUARANTEED RATE AFFINITY, LLC $315,000 $520,000 65.1% 0.2%
GARDNER FINANCIAL SERVICES, LTD. $515,000 n/a 0.2%
Wilmington Savings Fund Society, FSB $505,000 n/a 0.2%
Truist $950,000 $490,000 -48.4% 0.2%
FINANCE OF AMERICA REVERSE LLC $140,000 $460,000 228.6% 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $460,000 $455,000 -1.1% 0.2%
AMERISAVE MORTGAGE CORPORATION $1,280,000 $440,000 -65.6% 0.2%
CREDIT HUMAN FEDERAL CREDIT UNION $95,000 $425,000 347.4% 0.2%
Gateway First Bank $415,000 n/a 0.1%
PRIMARY RESIDENTIAL MORTGAGE, INC. $975,000 $410,000 -57.9% 0.1%
FIRST COLONY MORTGAGE CORPORATION $385,000 n/a 0.1%
CREDIT UNION MORTGAGE ASSOCIATION, INC. $75,000 $375,000 400.0% 0.1%
BROKER SOLUTIONS, INC. $1,215,000 $370,000 -69.5% 0.1%
DEEPHAVEN MORTGAGE LLC $365,000 n/a 0.1%
HOMEXPRESS MORTGAGE CORP. $365,000 n/a 0.1%
Stifel Bank and Trust $315,000 n/a 0.1%
LADERA LENDING, INC. $305,000 n/a 0.1%
DIRECT MORTGAGE, CORP. $295,000 n/a 0.1%
ENVOY MORTGAGE, LTD $295,000 n/a 0.1%
Figure Lending LLC $210,000 $280,000 33.3% 0.1%
SPRING EQ, LLC $130,000 $280,000 115.4% 0.1%
FIRST COMMUNITY MORTGAGE, INC. $265,000 n/a 0.1%
HOMETRUST MORTGAGE COMPANY $265,000 n/a 0.1%
The Central Trust Bank $335,000 $265,000 -20.9% 0.1%
AMERICA FIRST $150,000 $255,000 70.0% 0.1%
UNION HOME MORTGAGE CORP. $255,000 n/a 0.1%
HOMESIDE FINANCIAL, LLC $245,000 n/a 0.1%
MASON MCDUFFIE MORTGAGE CORPORATION $200,000 $245,000 22.5% 0.1%
BAY EQUITY LLC $235,000 n/a 0.1%
BELEM SERVICING LLC $235,000 n/a 0.1%
SWBC MORTGAGE CORPORATION $235,000 n/a 0.1%
OCMBC, INC. $230,000 n/a 0.1%
SOUTHWEST STAGE FUNDING, LLC $230,000 $225,000 -2.2% 0.1%
TBK BANK, SSB $225,000 n/a 0.1%
AMERICAN FINANCIAL RESOURCES, INC. $215,000 n/a 0.1%
MOVEMENT MORTGAGE, LLC $215,000 n/a 0.1%
Morgan Stanley Private Bank $75,000 $205,000 173.3% 0.1%
LONGBRIDGE FINANCIAL, LLC $165,000 $200,000 21.2% 0.1%
Nations Lending Corporation $260,000 $195,000 -25.0% 0.1%
M&T Bank $165,000 n/a 0.1%
NEXERA HOLDING LLC $165,000 n/a 0.1%
BETTER MORTGAGE CORPORATION $215,000 $155,000 -27.9% 0.1%
CLEARPATH LENDING $345,000 $135,000 -60.9% 0.0%
RANLIFE, INC. $125,000 n/a 0.0%
RESIDENTIAL BANCORP $125,000 n/a 0.0%
Ally Bank $115,000 n/a 0.0%
Charles Schwab Bank, SSB $105,000 n/a 0.0%
COUNTRYPLACE MORTGAGE, LTD. $85,000 $105,000 23.5% 0.0%
CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION $105,000 n/a 0.0%
QUORUM FEDERAL CREDIT UNION $105,000 n/a 0.0%
STAR ONE CREDIT UNION $105,000 n/a 0.0%
U.S. Bank $1,015,000 $85,000 -91.6% 0.0%
ROYAL UNITED MORTGAGE LLC $265,000 $75,000 -71.7% 0.0%
BMO Harris Bank $595,000 $65,000 -89.1% 0.0%
SUN AMERICAN MORTGAGE COMPANY $165,000 $65,000 -60.6% 0.0%
EVERENCE FEDERAL CREDIT UNION $45,000 n/a 0.0%
PLANET HOME LENDING, LLC $690,000 $35,000 -94.9% 0.0%
Coastal Community Bank $240,000 $25,000 -89.6% 0.0%
Kirtland Federal Credit Union $15,000 n/a 0.0%

FARMINGTON's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 9.1% market share. In second place, with 7.9%, is QUICKEN LOANS, LLC, having originated $22,065,000 in loans. In third place, with 7.7%, is V.I.P. MORTGAGE, INC., having originated $21,375,000 in loans. In fourth place, with 6.9%, is GUILD MORTGAGE COMPANY, having originated $19,245,000 in loans. In fifth place, with 6.7%, is CORNERSTONE HOME LENDING, INC., having originated $18,685,000 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 (-0.6%) $247,120 (-1.2%) 0.00 487
2018-02-01 $204,919 (-2.2%) $243,690 (-3.2%) 0.00 481
2018-03-01 $204,900 (-2.9%) $245,070 (-2.9%) 0.00 486
2018-04-01 $199,694 (-7.1%) $243,662 (-5.2%) 0.00 520
2018-05-01 $199,900 (-7.0%) $248,491 (-3.2%) 0.00 537
2018-06-01 $208,000 (-3.3%) $250,099 (-2.0%) 0.00 548
2018-07-01 $209,350 (-2.6%) $249,946 (-3.1%) 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 $218,583 (4.2%) $261,022 (3.4%) 0.00 503
2019-09-01 $216,708 (3.2%) $260,005 (0.8%) 0.00 496
2019-10-01 $215,125 (2.9%) $257,932 (1.6%) 0.00 487
2019-11-01 $215,000 (2.9%) $259,377 (3.0%) 0.00 435
2019-12-01 $215,000 (0.5%) $261,754 (4.4%) 0.00 399
2020-01-01 $209,950 (-2.1%) $259,727 (4.2%) 0.00 367
2020-02-01 $209,400 (-0.3%) $258,134 (5.9%) 0.00 382
2020-03-01 $209,900 (-2.9%) $257,353 (1.3%) 0.00 395
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 (-0.3%) 0.00 335
2020-10-01 $205,375 (-4.5%) $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 (-2.3%) 0.00 273
2021-01-01 $205,000 (-2.4%) $253,691 (-2.3%) 0.00 245
2021-02-01 $208,000 (-0.7%) $263,302 (2.0%) 0.00 252
2021-03-01 $213,500 (1.7%) $265,077 (3.0%) 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 $382,750 (14.6%) $524,099 (12.8%) 0.00 104
2024-06-01 $377,450 (14.4%) $493,345 (8.1%) 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
2024-11-01 $385,000 (14.1%) $510,209 (10.9%) 0.00 155
2024-12-01 $382,500 (15.1%) $509,946 (8.8%) 0.00 149
2025-01-01 $381,995 (13.8%) $502,206 (10.8%) 0.00 142
2025-02-01 $378,250 (8.1%) $515,142 (10.8%) 0.00 140
2025-03-01 $390,000 (11.5%) $545,252 (20.9%) 0.00 131
FARMINGTON's median listing price for 2025-03-01 was $390,000, a difference of $40,100 (11.5%) versus the prior year and $11,750 versus the prior month.

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

FARMINGTON's average listing price for 2025-03-01 was $545,252, a difference of $94,119 (20.9%) versus the prior year and $30,110 versus the prior month.

For the 2025-03-01 period, FARMINGTON had 131 MLS listings, a difference of -9 listings (-6%) versus the prior month and 25 listings (24%) 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 1,849 sqft
2019-10-01 0 days 1,828 sqft
2019-11-01 0 days 1,837 sqft
2019-12-01 0 days 1,881 sqft
2020-01-01 0 days 1,883 sqft
2020-02-01 0 days 1,837 sqft
2020-03-01 0 days 1,811 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 2,048 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 2,080 sqft
2024-06-01 0 days 2,027 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
2024-11-01 0 days 2,086 sqft
2024-12-01 0 days 2,021 sqft
2025-01-01 0 days 2,016 sqft
2025-02-01 0 days 2,016 sqft
2025-03-01 0 days 2,080 sqft
FARMINGTON's median listing age (time on market) for 2025-03-01 was 0 days.

FARMINGTON's median square footage for active listings during the 2025-03-01 period was 2,080 sqft. One year prior, the average listing was 2,005 sqft.

FARMINGTON, NM Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 894 $190,780,000 $213,400
Cash Out Refi 234 $42,930,000 $183,462
Other 128 $11,030,000 $86,172
Refi 118 $28,870,000 $244,661
Home Improvement 52 $4,810,000 $92,500

Farmington's most frequently cited loan purpose was Home Purchase, with 894 originations. The 2nd most popular reason was Cash Out Refi, with 234 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 532 $122,500,000 $230,263
7-8% 287 $60,655,000 $211,341
Over 8% 255 $22,955,000 $90,020
5-6% 184 $46,770,000 $254,185
<2.5% 55 $785,000 $14,273
4-5% 9 $2,105,000 $233,889
2.5-3% 2 $520,000 $260,000
3-4% 1 $155,000 $155,000

During 2024, Farmington's most frequently originated rate bucket was 6-7%, with 532 originations.

Loan Sizing (FARMINGTON, NM MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 584 $161,240,000 $276,096
$100,000 or less 404 $16,720,000 $41,386
$100k-200k 350 $53,130,000 $151,800
$400k-600k 71 $32,365,000 $455,845
$600k-1000k 13 $8,725,000 $671,154
$Over $1MM 4 $6,240,000 $1,560,000

FARMINGTON's loan sizing saw the bucket of loans from $200k-400k with 584 originations, totaling $161,240,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 629 $161,305,000 $256,447
Under 20% 262 $6,800,000 $25,954
60-80% 215 $48,965,000 $227,744
20-40% 93 $9,285,000 $99,839
40-60% 74 $14,790,000 $199,865
Over 100% 29 $9,105,000 $313,966

FARMINGTON's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 629 originations, totaling $161,305,000 in origination value.