FARMINGTON Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Farmington averaged 6.41% for the week of 2023-05-25, compared to the national average of 6.57% for the same period.

    The average rate for the prior week (2023-05-18) was 6.43% and one month ago for the week of 2023-04-20, the average rate was 6.23%.

    Farmington's average rate one year ago was 5.09%.

    For refis of the same type during the week of 2023-05-25, the average rate was 5.73%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-05-25 6.57%
    Farmington 30 Year Fixed Rate 2023-05-25 6.41%
    Farmington 30 Year Fixed Rate Refi 2023-05-25 5.73%
    Farmington 15 Year Fixed Rate 2023-05-25 5.77%
    Farmington 15 Year Fixed Rate Refi 2023-05-25 6.47%
    Farmington 30 Year FHA 2023-05-25 6.25%
    Farmington 30 Year FHA Refi 2023-05-25 6.51%
    Farmington 30 Year USDA 2023-05-25 6.43%
    Farmington 30 Year USDA Refi 2023-05-25 6.73%
    Farmington 30 Year VA 2023-05-25 6.06%
    Farmington 30 Year VA Refi 2023-05-25 6.61%
    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    AMCAP MORTGAGE, LTD. 80 5.24% $5,811
    QUICKEN LOANS, LLC 52 4.88% $7,196
    CORNERSTONE HOME LENDING, INC. 51 5.32% $5,523
    UNITED WHOLESALE MORTGAGE, LLC 42 4.95% $4,237
    LEGACY MORTGAGE LLC 35 5.47% $6,427
    MORTGAGE SOLUTIONS OF COLORADO, LLC 34 4.64% $7,235
    Waterstone Mortgage Corporation 23 5.49% $4,813
    Century Mortgage Company DBA Century Lending Company 15 4.66% $5,097
    GUILD MORTGAGE COMPANY 14 5.00% $5,902
    LOANDEPOT.COM, LLC 12 3.39% $5,881
    Wells Fargo Bank 12 5.24% $4,548
    MICHIGAN MUTUAL, INC. 9 5.94% $6,859
    Mr. Cooper ( Nationstar Mortgage ) 9 4.78% $7,456
    SANDIA LABORATORY 8 4.05% $2,510
    AMERISAVE MORTGAGE CORPORATION 7 4.55% $7,875
    ACADEMY MORTGAGE CORPORATION 6 5.35% $6,478
    AMERICAN FINANCING CORPORATION 5 3.95% $5,915
    Bank of America 5 3.95% $4,252
    Ally Bank 5 4.92% $5,151
    BROKER SOLUTIONS, INC. 5 5.22% $5,408
    First Financial Credit Union 5 4.13% $5,092
    JPMorgan Chase Bank 4 3.40% $3,646
    BETTER MORTGAGE CORPORATION 4 4.25% $3,661
    PENNYMAC LOAN SERVICES, LLC 4 4.91% $6,769
    Flagstar Bank, FSB 4 4.62% $4,117
    V.I.P. MORTGAGE, INC. 4 5.25% $3,981
    FREEDOM MORTGAGE CORPORATION 4 4.47% $4,655
    Zions Bancorporation, N.A. 4 6.88% $4,793
    Bank of Colorado 3 6.04% $6,616
    MUTUAL OF OMAHA MORTGAGE, INC. 3 5.21% $5,921
    BOKF 3 5.08% $3,776
    Carrington Mortgage Services, LLC 3 6.17% $6,876
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 4.54% $3,844
    MID AMERICA MORTGAGE, INC. 3 5.63% $9,053
    USAA Federal Savings Bank 2 5.63% $4,631
    Flanagan State Bank 2 5.69% $6,442
    HOME POINT FINANCIAL CORPORATION 2 4.74% $5,039
    Washington Federal Bank 2 3.38% $5,203
    MOVEMENT MORTGAGE, LLC 2 5.53% $5,621
    CHURCHILL MORTGAGE CORPORATION 2 5.06% $4,391
    Loan Simple, Inc. 2 5.75% $7,884
    GUARANTEED RATE, INC. 2 3.54% $5,565
    LAKEVIEW LOAN SERVICING, LLC 2 4.93% $5,822
    CMG MORTGAGE, INC. 2 5.75% $8,166
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.38% $4,406
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 5.44% $6,276
    PENTAGON FEDERAL CREDIT UNION 2 4.06% $4,484
    CALIBER HOME LOANS, INC. 2 5.25% $7,610
    STARBOARD FINANCIAL MANAGEMENT, LLC 2 5.06% $3,405
    The Central Trust Bank 2 3.25% $3,099
    Discover Bank 2 6.99% $0
    NAVY FEDERAL CREDIT UNION 2 7.38% $3,394
    First Home Bank 2 4.56% $6,296
    MEGASTAR FINANCIAL CORP. 1 3.88% $4,111
    Adams Bank & Trust 1 5.50% $3,659
    Amalgamated Bank 1 3.25% $5,124
    Amerifirst Financial, Inc. 1 6.50% $8,961
    Axos Bank 1 4.38% $8,160
    Bell Bank 1 6.63% $1,843
    BMO Harris Bank 1 4.25% $4,327
    BNC National Bank 1 6.00% $3,142
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $13,030
    CARDINAL FINANCIAL 1 4.25% $7,452
    CENTENNIAL LENDING, LLC 1 3.25% $4,663
    CHERRY CREEK MORTGAGE, LLC 1 5.50% $878
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 6.00% $5,585
    CROSSCOUNTRY MORTGAGE, LLC 1 7.00% $4,485
    DEEPHAVEN MORTGAGE LLC 1 4.75% $10,118
    EVERETT FINANCIAL, INC. 1 5.50% $2,659
    FINANCE OF AMERICA MORTGAGE LLC 1 5.38% $2,333
    Financial Funding Solutions, Inc. 1 5.88% $5,226
    FirstBank 1 3.25% $5,449
    First Bank & Trust 1 3.38% $4,473
    FIRST COMMUNITY MORTGAGE, INC. 1 4.63% $5,497
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.63% $11,658
    Goldwater Bank, N.A. 1 7.13% $8,042
    Heritage Bank 1 5.50% $7,384
    INTERCAP LENDING INC. 1 4.88% $4,287
    KeyBank 1 3.75% $5,371
    LADERA LENDING, INC. 1 3.88% $3,815
    LOANPAL, LLC 1 5.38% $3,197
    21ST MORTGAGE CORPORATION 1 6.95% $7,845
    Morgan Stanley Private Bank 1 4.85% $4,952
    NBH Bank 1 5.50% $4,217
    NBKC BANK 1 6.63% $837
    NEWREZ LLC 1 6.63% $6,129
    Priority Bank 1 4.88% $5,154
    RANLIFE, INC. 1 6.25% $2,971
    RELIANCE FIRST CAPITAL, LLC 1 4.63% $10,199
    RESIDENTIAL BANCORP. 1 4.88% $6,869
    S1L, Inc. 1 5.63% $4,128
    The Federal Savings Bank 1 6.63% $810
    The Huntington National Bank 1 6.00% $5,100
    TRIAD FINANCIAL SERVICES, INC. 1 7.75% $6,695
    Truist 1 4.88% $3,971
    U.S. Bank 1 5.00% $3,300
    ZILLOW HOME LOANS, LLC 1 3.50% $3,371

    FARMINGTON Average Closing Costs & Other Stats

    FARMINGTON, NM's 97 lenders originated 1,765 loans during 2022. The total origination value was $352,945,000, with an average loan value of $199,969.

    FARMINGTON's average closing costs are $5,632.

    The top FARMINGTON lender as defined by loan originations is AMCAP MORTGAGE, LTD., with 80 loans originated. Their average total fees are $5,811, which is $1,385 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee FARMINGTON lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($4,237), Wells Fargo Bank ($4,548), Waterstone Mortgage Corporation ($4,813), Century Mortgage Company DBA Century Lending Company ($5,097) and CORNERSTONE HOME LENDING, INC. ($5,523).

    The lowest rate FARMINGTON lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (3.39%), MORTGAGE SOLUTIONS OF COLORADO, LLC (4.64%), Century Mortgage Company DBA Century Lending Company (4.66%), QUICKEN LOANS, LLC (4.88%) and UNITED WHOLESALE MORTGAGE, LLC (4.95%).

    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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    AMCAP MORTGAGE, LTD. $39,420,000 $35,555,000 -9.8% 10.1%
    CORNERSTONE HOME LENDING, INC. $9,535,000 $26,330,000 176.1% 7.5%
    QUICKEN LOANS, LLC $55,465,000 $23,980,000 -56.8% 6.8%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $14,640,000 $22,645,000 54.7% 6.4%
    UNITED WHOLESALE MORTGAGE, LLC $33,630,000 $21,615,000 -35.7% 6.1%
    The Citizens Bank $20,895,000 n/a 5.9%
    LEGACY MORTGAGE LLC $19,115,000 $20,635,000 8.0% 5.8%
    Waterstone Mortgage Corporation $52,715,000 $12,635,000 -76.0% 3.6%
    GUILD MORTGAGE COMPANY $16,370,000 $12,160,000 -25.7% 3.4%
    Century Mortgage Company DBA Century Lending Company $1,835,000 $11,140,000 507.1% 3.2%
    Mortgage Research Center, LLC $12,125,000 $9,570,000 -21.1% 2.7%
    MID AMERICA MORTGAGE, INC. $8,900,000 $7,850,000 -11.8% 2.2%
    LOANDEPOT.COM, LLC $11,360,000 $7,605,000 -33.1% 2.2%
    Wells Fargo Bank $12,095,000 $6,010,000 -50.3% 1.7%
    21ST MORTGAGE CORPORATION $3,725,000 $5,200,000 39.6% 1.5%
    Mr. Cooper ( Nationstar Mortgage ) $6,135,000 $4,825,000 -21.4% 1.4%
    AMERISAVE MORTGAGE CORPORATION $6,625,000 $3,655,000 -44.8% 1.0%
    PENNYMAC LOAN SERVICES, LLC $7,640,000 $3,645,000 -52.3% 1.0%
    Zions Bancorporation, N.A. $5,595,000 $3,630,000 -35.1% 1.0%
    MICHIGAN MUTUAL, INC. $5,290,000 $3,295,000 -37.7% 0.9%
    FREEDOM MORTGAGE CORPORATION $25,730,000 $2,930,000 -88.6% 0.8%
    NAVY FEDERAL CREDIT UNION $2,810,000 $2,600,000 -7.5% 0.7%
    SANDIA LABORATORY $2,305,000 $2,520,000 9.3% 0.7%
    Ally Bank $1,160,000 $2,400,000 106.9% 0.7%
    BROKER SOLUTIONS, INC. $15,800,000 $2,310,000 -85.4% 0.7%
    Bank of America $3,070,000 $2,150,000 -30.0% 0.6%
    AMERICAN FINANCING CORPORATION $4,280,000 $2,110,000 -50.7% 0.6%
    Amerifirst Financial, Inc. $2,085,000 n/a 0.6%
    CMG MORTGAGE, INC. $185,000 $1,910,000 932.4% 0.5%
    NEW DAY FINANCIAL, LLC $1,825,000 $1,730,000 -5.2% 0.5%
    V.I.P. MORTGAGE, INC. $2,525,000 $1,685,000 -33.3% 0.5%
    USAA Federal Savings Bank $1,340,000 $1,670,000 24.6% 0.5%
    ACADEMY MORTGAGE CORPORATION $3,545,000 $1,645,000 -53.6% 0.5%
    Flagstar Bank, FSB $1,260,000 $1,590,000 26.2% 0.5%
    Nations Lending Corporation $1,350,000 $1,515,000 12.2% 0.4%
    VANDERBILT MORTGAGE AND FINANCE, INC. $1,530,000 $1,480,000 -3.3% 0.4%
    The Federal Savings Bank $1,310,000 $1,420,000 8.4% 0.4%
    LAKEVIEW LOAN SERVICING, LLC $5,815,000 $1,380,000 -76.3% 0.4%
    BETTER MORTGAGE CORPORATION $4,740,000 $1,355,000 -71.4% 0.4%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $2,870,000 $1,295,000 -54.9% 0.4%
    Flanagan State Bank $1,490,000 $1,295,000 -13.1% 0.4%
    TRIAD FINANCIAL SERVICES, INC. $215,000 $1,270,000 490.7% 0.4%
    Carrington Mortgage Services, LLC $1,745,000 $1,220,000 -30.1% 0.3%
    KeyBank $1,210,000 n/a 0.3%
    The Central Trust Bank $585,000 $1,210,000 106.8% 0.3%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $1,215,000 $1,170,000 -3.7% 0.3%
    MOVEMENT MORTGAGE, LLC $245,000 $1,130,000 361.2% 0.3%
    First Financial Credit Union $1,120,000 n/a 0.3%
    FINANCE OF AMERICA MORTGAGE LLC $575,000 $1,080,000 87.8% 0.3%
    BOKF $655,000 $1,070,000 63.4% 0.3%
    Bank of Colorado $10,360,000 $1,045,000 -89.9% 0.3%
    JPMorgan Chase Bank $1,825,000 $1,035,000 -43.3% 0.3%
    CALIBER HOME LOANS, INC. $2,345,000 $1,005,000 -57.1% 0.3%
    U.S. Bank $3,520,000 $980,000 -72.2% 0.3%
    CROSSCOUNTRY MORTGAGE, LLC $1,250,000 $970,000 -22.4% 0.3%
    MUTUAL OF OMAHA MORTGAGE, INC. $1,275,000 $960,000 -24.7% 0.3%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $295,000 $880,000 198.3% 0.2%
    Equity Prime Mortgage LLC $165,000 $875,000 430.3% 0.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,305,000 $870,000 -33.3% 0.2%
    CALCON MUTUAL MORTGAGE LLC $545,000 $820,000 50.5% 0.2%
    U.S. EAGLE $2,600,000 $820,000 -68.5% 0.2%
    ZILLOW HOME LOANS, LLC $115,000 $775,000 573.9% 0.2%
    Commerce Home Mortgage, Inc. $765,000 n/a 0.2%
    LIMA ONE CAPITAL, LLC $720,000 n/a 0.2%
    CHERRY CREEK MORTGAGE, LLC $545,000 $650,000 19.3% 0.2%
    Amalgamated Bank $645,000 n/a 0.2%
    TOP FLITE FINANCIAL, INC. $105,000 $615,000 485.7% 0.2%
    Priority Bank $585,000 n/a 0.2%
    NEWREZ LLC $4,695,000 $580,000 -87.6% 0.2%
    PLAZA HOME MORTGAGE, INC. $1,320,000 $580,000 -56.1% 0.2%
    UNION HOME MORTGAGE CORP. $450,000 $575,000 27.8% 0.2%
    Morgan Stanley Private Bank $565,000 n/a 0.2%
    Washington Federal Bank $3,475,000 $565,000 -83.7% 0.2%
    RANLIFE, INC. $115,000 $560,000 387.0% 0.2%
    Heritage Bank $535,000 n/a 0.2%
    MOUNTAIN AMERICA $820,000 $525,000 -36.0% 0.1%
    PENTAGON FEDERAL CREDIT UNION $625,000 $525,000 -16.0% 0.1%
    RELIANCE FIRST CAPITAL, LLC $850,000 $525,000 -38.2% 0.1%
    First Home Bank $510,000 n/a 0.1%
    City National Bank $505,000 n/a 0.1%
    GUARANTEED RATE, INC. $1,025,000 $500,000 -51.2% 0.1%
    DEEPHAVEN MORTGAGE LLC $465,000 n/a 0.1%
    The Huntington National Bank $465,000 n/a 0.1%
    LOANPAL, LLC $460,000 n/a 0.1%
    Gateway First Bank $755,000 $440,000 -41.7% 0.1%
    PLANET HOME LENDING, LLC $1,780,000 $430,000 -75.8% 0.1%
    Glacier Bank $410,000 n/a 0.1%
    FirstBank $285,000 $405,000 42.1% 0.1%
    North American Savings Bank, F.S.B. $395,000 $405,000 2.5% 0.1%
    Paramount Residential Mortgage Group, Inc. $245,000 $405,000 65.3% 0.1%
    PNC Bank $600,000 $405,000 -32.5% 0.1%
    CHURCHILL MORTGAGE CORPORATION $1,470,000 $400,000 -72.8% 0.1%
    USAlliance Federal Credit Union $395,000 n/a 0.1%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $2,495,000 $390,000 -84.4% 0.1%
    RESIDENTIAL BANCORP. $465,000 $390,000 -16.1% 0.1%
    First Guaranty Mortgage Corporation $2,805,000 $365,000 -87.0% 0.1%
    INTERCAP LENDING INC. $355,000 n/a 0.1%
    Loan Simple, Inc. $690,000 $350,000 -49.3% 0.1%
    LONGBRIDGE FINANCIAL, LLC $430,000 $345,000 -19.8% 0.1%
    BNC National Bank $315,000 n/a 0.1%
    HOME POINT FINANCIAL CORPORATION $940,000 $310,000 -67.0% 0.1%
    LADERA LENDING, INC. $310,000 n/a 0.1%
    SIRVA MORTGAGE, INC. $590,000 $305,000 -48.3% 0.1%
    Kirtland Federal Credit Union $60,000 $295,000 391.7% 0.1%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $285,000 n/a 0.1%
    MORTGAGEONE, INC. $285,000 n/a 0.1%
    MEGASTAR FINANCIAL CORP. $275,000 n/a 0.1%
    Sunflower Bank $370,000 $275,000 -25.7% 0.1%
    CREDIT UNION MORTGAGE ASSOCIATION, INC. $175,000 $270,000 54.3% 0.1%
    EVERETT FINANCIAL, INC. $125,000 $265,000 112.0% 0.1%
    Low VA Rates, LLC $810,000 $265,000 -67.3% 0.1%
    NBKC BANK $255,000 $265,000 3.9% 0.1%
    PREMIA MORTGAGE, LLC $265,000 n/a 0.1%
    CLEARPATH LENDING $1,290,000 $255,000 -80.2% 0.1%
    NBH Bank $145,000 $255,000 75.9% 0.1%
    Discover Bank $245,000 n/a 0.1%
    NUSENDA $965,000 $245,000 -74.6% 0.1%
    AMERICAN ADVISORS GROUP $345,000 $240,000 -30.4% 0.1%
    Barrington Bank & Trust Company, N.A. $810,000 $235,000 -71.0% 0.1%
    STARBOARD FINANCIAL MANAGEMENT, LLC $435,000 $220,000 -49.4% 0.1%
    BMO Harris Bank $215,000 n/a 0.1%
    S1L, Inc. $115,000 $215,000 87.0% 0.1%
    Vibrant Credit Union $215,000 n/a 0.1%
    Wyndham Capital Mortgage, Inc. $345,000 $215,000 -37.7% 0.1%
    Adams Bank & Trust $205,000 n/a 0.1%
    Axos Bank $205,000 n/a 0.1%
    Chickasaw Community Bank $575,000 $205,000 -64.3% 0.1%
    Quontic Bank $225,000 $195,000 -13.3% 0.1%
    Figure Lending LLC $85,000 $190,000 123.5% 0.1%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $365,000 $185,000 -49.3% 0.1%
    CENTENNIAL LENDING, LLC $185,000 n/a 0.1%
    FINANCE OF AMERICA REVERSE LLC $195,000 $185,000 -5.1% 0.1%
    First Bank & Trust $1,025,000 $185,000 -82.0% 0.1%
    CREDIT HUMAN FEDERAL CREDIT UNION $180,000 n/a 0.1%
    KELLER MORTGAGE, LLC $1,745,000 $175,000 -90.0% 0.0%
    Goldwater Bank, N.A. $165,000 n/a 0.0%
    HOMESTAR FINANCIAL CORPORATION $165,000 n/a 0.0%
    Mid-Continent Funding, Inc. $680,000 $165,000 -75.7% 0.0%
    EMBRACE HOME LOANS, INC. $285,000 $155,000 -45.6% 0.0%
    THE MONEY SOURCE INC. $145,000 n/a 0.0%
    Truist $395,000 $135,000 -65.8% 0.0%
    Bell Bank $275,000 $125,000 -54.5% 0.0%
    CHEVRON $125,000 n/a 0.0%
    ROYAL UNITED MORTGAGE LLC $450,000 $125,000 -72.2% 0.0%
    Financial Funding Solutions, Inc. $390,000 $115,000 -70.5% 0.0%
    FIRST COMMUNITY MORTGAGE, INC. $1,970,000 $115,000 -94.2% 0.0%
    AMERICAN FINANCIAL RESOURCES, INC. $1,615,000 $105,000 -93.5% 0.0%
    M&T Bank $135,000 $95,000 -29.6% 0.0%
    QUORUM FEDERAL CREDIT UNION $95,000 n/a 0.0%
    AMERICA FIRST $75,000 n/a 0.0%
    COUNTRYPLACE MORTGAGE, LTD. $55,000 n/a 0.0%
    SPRING EQ, LLC $235,000 $55,000 -76.6% 0.0%
    Bethpage Federal Credit Union $35,000 n/a 0.0%
    Stifel Bank and Trust $35,000 n/a 0.0%

    FARMINGTON's top lender by overall market share is AMCAP MORTGAGE, LTD., with 10.1% market share. In second place, with 7.5%, is CORNERSTONE HOME LENDING, INC., having originated $26,330,000 in loans. In third place, with 6.8%, is QUICKEN LOANS, LLC, having originated $23,980,000 in loans. In fourth place, with 6.4%, is MORTGAGE SOLUTIONS OF COLORADO, LLC, having originated $22,645,000 in loans. In fifth place, with 6.1%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $21,615,000 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 $199,697 (-7.1%) $244,515 (-4.9%) 0.00 521
    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%) $248,523 (0.6%) 0.00 445
    2019-02-01 $209,925 (2.4%) $242,284 (-0.6%) 0.00 452
    2019-03-01 $215,000 (4.9%) $251,425 (2.6%) 0.00 446
    2019-04-01 $219,900 (10.1%) $262,145 (7.2%) 0.00 454
    2019-05-01 $219,950 (10.0%) $261,246 (5.1%) 0.00 461
    2019-06-01 $219,900 (5.7%) $260,259 (4.1%) 0.00 480
    2019-07-01 $219,000 (4.6%) $259,488 (3.8%) 0.00 506
    2019-08-01 $218,000 (3.9%) $257,571 (2.0%) 0.00 498
    2019-09-01 $216,875 (3.3%) $260,924 (1.2%) 0.00 472
    2019-10-01 $215,250 (3.0%) $258,068 (1.7%) 0.00 486
    2019-11-01 $215,000 (2.9%) $259,463 (3.0%) 0.00 433
    2019-12-01 $215,000 (0.5%) $261,925 (4.5%) 0.00 398
    2020-01-01 $209,950 (-2.1%) $259,907 (4.6%) 0.00 366
    2020-02-01 $209,650 (-0.1%) $258,307 (6.6%) 0.00 381
    2020-03-01 $209,925 (-2.4%) $257,516 (2.4%) 0.00 394
    2020-04-01 $210,000 (-4.5%) $263,799 (0.6%) 0.00 388
    2020-05-01 $218,000 (-0.9%) $270,178 (3.4%) 0.00 364
    2020-06-01 $209,950 (-4.5%) $260,280 (0.0%) 0.00 353
    2020-07-01 $212,450 (-3.0%) $258,303 (-0.5%) 0.00 375
    2020-08-01 $209,900 (-3.7%) $255,794 (-0.7%) 0.00 370
    2020-09-01 $204,900 (-5.5%) $259,136 (-0.7%) 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
    FARMINGTON's median listing price for 2023-04-01 was $342,000, a difference of $42,100 (14.0%) versus the prior year and $-8,000 versus the prior month.

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

    FARMINGTON's average listing price for 2023-04-01 was $466,954, a difference of $56,121 (13.7%) versus the prior year and $-10,792 versus the prior month.

    For the 2023-04-01 period, FARMINGTON had 69 MLS listings, a difference of 3 listings (5%) versus the prior month and -46 listings (-40%) 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 1,847 sqft
    2019-04-01 0 days 1,890 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 1,858 sqft
    2019-09-01 0 days 1,846 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 2,048 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
    FARMINGTON's median listing age (time on market) for 2023-04-01 was 0 days.

    FARMINGTON's median square footage for active listings during the 2023-04-01 period was 1,995 sqft. One year prior, the average listing was 2,004 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 $860 $870 $1,010 $1,350 $1,570
    87013 Farmington, NM $620 $700 $850 $1,220 $1,460
    87037 Farmington, NM $650 $680 $790 $1,070 $1,260
    87313 Farmington, NM $620 $630 $730 $970 $1,120
    87325 Farmington, NM $620 $630 $730 $970 $1,120
    87328 Farmington, NM $620 $630 $730 $970 $1,120
    87364 Farmington, NM $620 $630 $730 $970 $1,120
    87401 Farmington, NM $770 $790 $910 $1,210 $1,410
    87402 Farmington, NM $950 $970 $1,120 $1,490 $1,740
    87410 Farmington, NM $720 $730 $850 $1,130 $1,320
    87412 Farmington, NM $690 $710 $820 $1,100 $1,280
    87413 Farmington, NM $690 $700 $810 $1,080 $1,260
    87415 Farmington, NM $830 $850 $980 $1,310 $1,530
    87416 Farmington, NM $870 $880 $1,020 $1,360 $1,580
    87417 Farmington, NM $700 $710 $820 $1,090 $1,270
    87418 Farmington, NM $620 $630 $730 $970 $1,120
    87419 Farmington, NM $820 $830 $960 $1,280 $1,500
    87420 Farmington, NM $620 $630 $730 $970 $1,120
    87421 Farmington, NM $880 $890 $1,030 $1,370 $1,600
    87455 Farmington, NM $620 $630 $730 $970 $1,120
    87461 Farmington, NM $620 $630 $730 $970 $1,120
    87499 Farmington, NM $680 $690 $800 $1,060 $1,230

    2022 Average & Median Rent Data Statistics
    FARMINGTON, NM average 1BR rent: $729, median: $700
    FARMINGTON, NM average 2BR rent: $846, median: $815
    FARMINGTON, NM average 3BR rent: $1,131, median: $1,085

    FARMINGTON, NM Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 1,216 $250,620,000 $206,102
    Cash Out Refi 276 $51,850,000 $187,862
    Refi 202 $42,810,000 $211,931
    Other 39 $4,705,000 $120,641
    Home Improvement 32 $2,960,000 $92,500

    Farmington's most frequently cited loan purpose was Home Purchase, with 1,216 originations. The 2nd most popular reason was Cash Out Refi, with 276 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 455 $95,645,000 $210,209
    4-5% 365 $78,995,000 $216,425
    3-4% 317 $64,945,000 $204,874
    6-7% 235 $49,895,000 $212,319
    7-8% 101 $10,305,000 $102,030
    2.5-3% 81 $18,325,000 $226,235
    Over 8% 70 $5,350,000 $76,429
    <2.5% 61 $7,765,000 $127,295

    During 2022, Farmington's most frequently originated rate bucket was 5-6%, with 455 originations.

    Loan Sizing (FARMINGTON, NM MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 728 $110,990,000 $152,459
    $200k-400k 653 $174,345,000 $266,991
    $100,000 or less 282 $13,100,000 $46,454
    $400k-600k 84 $39,710,000 $472,738
    $600k-1000k 17 $11,865,000 $697,941
    $Over $1MM 1 $2,935,000 $2,935,000

    FARMINGTON's loan sizing saw the bucket of loans from $100k-200k with 728 originations, totaling $110,990,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 933 $213,615,000 $228,955
    60-80% 388 $78,190,000 $201,521
    40-60% 120 $18,480,000 $154,000
    Under 20% 120 $1,820,000 $15,167
    20-40% 66 $7,100,000 $107,576
    Over 100% 31 $9,385,000 $302,742

    FARMINGTON's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 933 originations, totaling $213,615,000 in origination value.