Updated July 2026Zillowmonthly
88240 Real Estate Market Update: Hobbs, NM, July 2026
The latest housing-market numbers for ZIP code 88240 in Hobbs, New Mexico, for July 2026: a $246K median sale price, straight from Zillow Research. ZIP-level figures are monthly figures, smoothed over three months by Zillow.
| Metric | Value | MoM | YoY |
|---|---|---|---|
| Median sale price | $246K | ▼ -2.5% | n/a |
| Homes for sale | 72 | ▼ -1.4% | ▲ +20.0% |
| New listings | 26 | ▼ -7.1% | ▼ -16.1% |
Figures from Zillow Research (monthly figures, smoothed over three months by Zillow). Verify against your MLS before posting. Not a valuation for a specific home.
What the 88240 numbers say
The 88240 ZIP in Hobbs is leveling off. The median sale price is $245,667, roughly flat year over year. Sellers here are getting close to list price.
With 72 homes for sale and 26 new listings this month, 88240 is currently an active market.
What this means if you sell in 88240
Use these figures to set expectations early with each client. Lead a listing appointment with the $246K median price, show the year-over-year direction, and frame 88240 as an active market. A buyer or seller client trusts an agent who knows their exact ZIP, not just the metro average.
How we track the 88240 market
We built LOKAL to pull 88240's numbers straight from Zillow Research, so an agent and a client read from the same source. For July 2026 we recorded a $246K median sale price and a -2.5% month-over-month move with 72 homes for sale. We refresh every ZIP monthly from Zillow Research, which only publishes a smoothed median once a ZIP has enough transactions, so the median stays reliable instead of noisy. Both sources have published ZIP-level series for years, which is what lets us show month-over-month and year-over-year change here in 2026. LOKAL is independent and not affiliated with Zillow; always verify against your MLS before you publish.
ZIP-code areas follow U.S. Postal Service boundaries; for complementary demographics on 88240 (population, median household income, owner-occupancy), see the U.S. Census Bureau profile for this ZIP Code Tabulation Area. LOKAL covers price and pace; the Census covers who lives there.
Turn these 88240 numbers into a finished post.
Open LOKAL with ZIP 88240 already loaded, not a nearby city. You'll get a carousel, story and square graphic carrying these exact figures, ready to export in seconds.
Build the 88240 post →Frequently asked: the 88240 housing market
- What is the median home price in ZIP 88240 (Hobbs, NM)?
- As of July 2026, the median sale price in ZIP 88240 is $245,667, per Zillow Research. Figures are monthly figures, smoothed over three months by Zillow for this ZIP code.
- Is ZIP 88240 a buyer's or seller's market right now?
- ZIP 88240 is currently an active market for July 2026.
- How long do homes take to sell in ZIP 88240?
- Zillow does not publish a days-on-market figure for 88240 this period. Verify pace against your local MLS.
- Where does this 88240 market data come from?
- All figures for 88240 come from Zillow Research: monthly figures, smoothed over three months by Zillow. LOKAL turns them into a ready-to-post carousel, story and square graphic. LOKAL is not affiliated with Zillow.
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Data credited to its source on every update. LOKAL is independent.
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Data from Zillow Research (ZIP-level market data, monthly figures, smoothed over three months by Zillow), not a valuation for a specific home.