Farmington, NM Real Estate Market Update – November 2025

Updated to Include Market Impact of the Federal Shutdown

If you’ve been watching the Farmington real estate market this fall, you’ve probably noticed the steady shift continuing. Inventory is rising, buyers are becoming more selective, and the market is settling into a more sustainable rhythm.
But there’s an important footnote this month: the federal government shutdown played a noticeable role in November’s numbers.

Several loan programs, processing timelines, and federal verifications slowed or paused entirely—adding friction to transactions that otherwise would have closed on time. And based on how busy December has already become, it’s clear that much of November’s slowdown was temporary rather than market-driven.

A Seller’s Market… with a Temporary Dip in Activity

The core structure of the market remains the same: Farmington is still a seller-leaning market, but balance is slowly returning.

In November, the absorption rate was 3.51 months, up from 3.11 a year ago. Anything under four months still favors sellers, though the trend is gradually moving toward neutral ground.

Active listings rose 13.6% year-over-year (225 vs. 198), while sold homes fell 18.5% (44 vs. 54).
On paper, that looks like a meaningful slowdown—but the surge of activity in early December makes it clear that the shutdown pushed several closings into the following month.

Buyers didn’t disappear.
They just couldn’t close.

Prices Remain Steady and Strong

Even with fewer closings, pricing held firm:

• Median sale price: $291,750 (up 6.11% YoY)

• Average sale price: $303,194 (essentially flat YoY)

Year-to-date, the median sale price is up 7.81%, a sign of continued strength in San Juan County’s mid-range market.

Meanwhile, the average active list price rose to $442,686, slightly above last year. That gap between list prices and sale prices continues to widen—a reminder that pricing strategy matters more than ever.

Homes That Are Priced Right Still Perform

Even with administrative delays slowing some transactions, well-presented homes still captured buyer attention.

Market speed shifted slightly:

• Average DOM: 40 days (up from 36)

• Median DOM: 24 days (up from 13)

Homes are still selling—just not at the breakneck pace we saw earlier this year. And again, the shutdown likely inflated days-on-market numbers by delaying closings.

Listings that are clean, bright, and accurately priced continue to move efficiently. The ones that overshoot the market tend to sit longer.

What It Means for Sellers

Despite the noise created by November’s shutdown delays, the underlying fundamentals remain strong.

If you’re considering selling:

• Price using recent sold data, not ambitious active prices.

• Present the home well—buyers respond instantly to listings that show professionally.

• Lean on strong marketing to stand out in a growing inventory environment.

The buyers are still there. Many simply shifted into December because of the shutdown-related backlog.

What It Means for Buyers

For buyers, November’s data shouldn’t be interpreted as a cooling market. It was more of a logistical slowdown than a demand shift.

In reality:

• Inventory is up

• Prices are stable

• Buyer demand remains steady

• December is already demonstrating strong activity

This creates an opportunity for buyers to take their time, compare options, and negotiate more confidently—especially on homes that have been sitting longer than the average DOM.

Final Thoughts

The Farmington real estate market in November 2025 is balancing, but the government shutdown added a temporary wrinkle that makes the month look softer than the underlying demand suggests. With December activity picking up sharply, it’s clear buyers didn’t step away—they were simply delayed.

For homeowners, this remains a strong environment to sell when priced strategically.
For buyers, it’s a chance to step into the market with a bit more breathing room than we’ve seen in recent years.

If you’d like a personalized look at your neighborhood or a custom home-value report, I’d be honored to help. Staying informed is the best way to navigate a shifting market with confidence.