Elephant Butte, NM Housing Market

$232,652

6.4% 1-yr

The average Elephant Butte, NM home value is $232,652, up 6.4% over the past year.

What is the Zillow Home Values Index?

Zillow Home Value Index (ZHVI), built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types.

Learn more about the Zillow Home Value Index

Elephant Butte Key Takeaways

Typical Home Values: $232,652

1-year Value Change: +6.4%

(Data through July 31, 2025)

Elephant Butte Housing Market Overview

--1-year Market Forecast

20For sale inventory(July 31, 2025)

--New listings(July 31, 2025)

--Median sale to list ratio

--Median sale price(June 30, 2025)

$346,417Median list price(July 31, 2025)

--Percent of sales over list price

--Percent of sales under list price

--Median days to pending

(Metric availability is based on market coverage and data)

How does this data help me?
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.

Neighborhoods in Elephant Butte

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Elephant Butte Rental Market Trends

--Average rent in Elephant Butte

$2,072National average rent(July 31, 2025)

--Month-over-month change

--Year-over-year change

How does this data help me?
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.