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 6.87% for the week of 2024-12-12, compared to the national average of 6.6% for the same period.

The average rate for the prior week (2024-12-05) was 6.56% and one month ago for the week of 2024-11-07, the average rate was 6.76%.

Farmington's average rate one year ago was 7.3%.

For refis of the same type during the week of 2024-12-12, the average rate was 7.1%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-12-12 6.6%
Farmington 30 Year Fixed Rate 2024-12-12 6.87%
Farmington 30 Year Fixed Rate Refi 2024-12-12 7.1%
Farmington 15 Year Fixed Rate 2024-12-12 5.94%
Farmington 15 Year Fixed Rate Refi 2024-12-12 5.84%
Farmington 30 Year FHA 2024-12-12 5.9%
Farmington 30 Year FHA Refi 2024-12-12 6.48%
Farmington 30 Year USDA 2024-12-12 6.1%
Farmington 30 Year USDA Refi 2024-12-12 6.4%
Farmington 30 Year VA 2024-12-12 5.94%
Farmington 30 Year VA Refi 2024-12-12 6.28%
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
2024-11-01 $385,000 (14.1%) $510,209 (10.9%) 0.00 155
FARMINGTON's median listing price for 2024-11-01 was $385,000, a difference of $47,500 (14.1%) versus the prior year and $-4,350 versus the prior month.

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

FARMINGTON's average listing price for 2024-11-01 was $510,209, a difference of $50,010 (10.9%) versus the prior year and $1,368 versus the prior month.

For the 2024-11-01 period, FARMINGTON had 155 MLS listings, a difference of -2 listings (-1%) versus the prior month and 7 listings (5%) 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
2024-11-01 0 days 2,086 sqft
FARMINGTON's median listing age (time on market) for 2024-11-01 was 0 days.

FARMINGTON's median square footage for active listings during the 2024-11-01 period was 2,086 sqft. One year prior, the average listing was 2,019 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.