Are sellers cutting their asking price in Farmington, NM?
In Farmington, NM, 29% of the homes on the market cut their asking price during May 2026 — roughly 3 in every 10 listings. A year earlier it was 32%, so fewer sellers are cutting now.
A price cut means a home was listed, did not sell at that number, and the seller lowered it. It is the clearest sign of the gap between what sellers are asking and what buyers will pay, and it shows up months before it shows up in sale prices.
Cutting is less common than it was a year ago — down about 3 points. Sellers are landing closer to the right number on the first try.
The other side of the same market: 0% of homes here sold for MORE than the asking price. With few homes going over asking and many cutting, buyers here have the stronger hand.
Over the last 36 months the highest this got was 44%, in August 2024.
If you are selling here, the number to take from this is that about 3 in 10 of your competitors got their first price wrong. If you are buying, a home that has already been cut once is a seller who has accepted that the market disagreed with them.
One caution: price cuts are seasonal everywhere. Listings that sit through the summer get cut in the fall. That is why the honest comparison is to the same month a year ago, which is the one we show, rather than to last month.
Source: Redfin's published market data for the Farmington, NM area, through May 2026.
Are you the agent for Farmington, NM?
We build this page's numbers into a one-page report with your name, brokerage and phone on it, for up to three areas you work — emailed to you fresh every month. Forward it to clients. $49 a month, cancel anytime.
See a real sample report first — no email needed.
More about the Farmington, NM market
- When is the best month to sell a house in Farmington, NM?
- How long does it take to sell a house in Farmington, NM?
- Do homes sell above asking price in Farmington, NM?
- Are home prices going up or down in Farmington, NM?
- Is Farmington, NM a buyer's market or a seller's market?
- Is the housing market slowing down in Farmington, NM?
- What is the average home price in Farmington, NM?
- How many homes are for sale in Farmington, NM?
- All Farmington, NM housing numbers
Other markets
- Are sellers cutting prices in Las Cruces, NM?
- Are sellers cutting prices in Santa Fe, NM?
- Are sellers cutting prices in Carlsbad, NM?
- Are sellers cutting prices in Alamogordo, NM?
- Are sellers cutting prices in Hobbs, NM?
- Are sellers cutting prices in Roswell, NM?
- Are sellers cutting prices in Taos, NM?
- Are sellers cutting prices in Clovis, NM?
Figures come from Redfin's published market data for the Farmington, NM area, through May 2026. Neighborhood Numbers is an independent data publisher and is not affiliated with Redfin. We update these pages when Redfin publishes, once a month.