Real Estate Directory - New Mexico

Population: 1,874,614 (all 2003)
Capital city/population: Santa Fe 66,476
Largest cities/population:

  • Albuquerque - 471,856
  • Las Cruces - 76,990
  • Santa Fe - 66,476
  • Rio Rancho - 58,981

New Mexico is the fifth largest state, with a total area of 121,598 square miles.

It has a mostly dry climate due to low humidity, high altitude, and abundant sunshine. Due to these conditions, temperatures in one day can range from 90ºF during the day to 50ºF at night. Annual precipitation varies from 8” – 24”. New Mexico was admitted into the Union on January 6, 1912. The state has 19 Pueblo groups that speak four distinct languages. These people have lived in the same location longer than any other culture in our nation. Also, the Navajo, America’s largest Native American group, have a reservation covering 14 million acres.

HOUSING

Albuquerque – As of the close of 2005, there were over 1,340 homes on the market, at an average price of $307,536. Average price per square foot is $130, which averages slightly higher than earlier in the year. Homes are remaining on the market for approximately 34 days. This is New Mexico’s largest city, and one of the oldest in the nation, founded in 1706. It is a great health resort and vacation spot, with plenty of museums, art, and anthropology. Truly a great place to live.

Las Cruces – As of late 2005, average price for a 1-2 bedroom, single-family home was $134,733. For a 3 – 4 bedroom home, average prices were $196,029 and $294,335. Asking prices for condominiums ranged from $125,250 - $255,764. This town is home to New Mexico State University, a large area employer.

Santa Fe – This community has a great variety of options for home, land, or investment buying. Depending upon location, homes range from $250,000 – above $400,000. Condominiums are gaining in popularity, with an average price of $250,000. Santa Fe is known for its markets, culture, and great scenic opportunities.

Rio Rancho – As of the close of 2005, there were almost 300 homes on the market at an average price of $273,684; median square foot price is $117, with an average stay on the market of 54 days. This is one of New Mexico’s newest communities – it’s anticipated the community will double its population in 20 years. It has a strong manufacturing base, being supported by technology and “call centers.” Great diversity in cultural, arts, and education add to its appeal.

BUSINESS/ECONOMY

Principal industries include government, services, and trade. Primary manufactured goods include foods, machinery, apparel, lumber, printing, electronics, and semi-conductors. Crops include hay, onions, wheat, pecans, corn, cotton, sorghum, and chili peppers. Total state product for 2003 was $57 billion, with a per capita income for that year of $24,995.

SCHOOLS

New Mexico has developed a Public Education Commission, consisting of ten elected commissioners, each serving staggered four year terms. Members are residents of the district from which they are elected, and their role is to advise the Secretary of Education, and to support accountability guidelines for public education. In the public sector, student-teacher ratio for 1994 was 17:2, with an average teachers’ salary for 1995 of $29,349.

State-supported higher education include the University of New Mexico - Albuquerque, with a branch at Gallup; New Mexico State University - Las Cruces, with branches at Alamogordo, Carlsbad, and Grants; Eastern New Mexico University - Portales, with a branch at Roswell; New Mexico Highlands University - Las Vegas; Western New Mexico University - Silver City; New Mexico Institute of Mining and Technology - Socorro; and New Mexico Military Institute - Roswell. Other institutions are the College of Santa Fe and St. John's College, both at Santa Fe.

HISTORY

Settlement of the area dates back to prehistoric times, when early cultures in the Southwest arrived prior to the Pueblos. Many of the Native American Pueblos exist today in conditions similar to those of their ancestors of the 13th century. Word of early Pueblo’s existence reached the Spanish explorers, who combed the area in search of the Seven Cities of Cibola.

The first regular colony was founded at San Juan in 1598. Several years later, Pedro dePeralta founded Santa Fe, a colony which spawned missions and haciendas.

The Mexican War marked the introduction of the American culture to New Mexico. Afterward, the Treaty of Guadalupe Hidalgo ceded New Mexico to the United States. This territory was enlarged by the Gadsden Purchase of 1853.

Ranching had taken over much grassland, but the emergence of the railroad encouraged a cattle boom in the 1880s. Difficulties arose between ranchers and sheepherders, and compounding the problem was the arrival of homesteaders and squatters.

In 1943, the government built Los Alamos as a center for atomic research, with the first atomic bomb exploded in July, 1945. The use of these facilities continued after World War II.

The climate of this state has been an enticement for retirees, writers, and artists.

RELIGION (2004)

  • Christian – 77%
    • Roman Catholic – 41%
    • Protestant – 35%
      • Baptist – 10%
      • Presbyterian – 4%
      • Pentecostal – 3%
      • Mormon – 3%
      • Other Protestant or general Protestant – 18%
    • Other Christian – 1%
  • Other Religions – 1%
  • Non-Religious – 19%

DEMOGRAPHICS (2004)

  • White non-Hispanic - 44.7%
  • Hispanic - 42.1%
  • Native American - 9.5%
  • Black - 1.9%
  • Asian - 1.1%
  • Mixed race - 3.6%