There are currently 4,583 real estate properties in Lovington, NM, with a median automated valuation model (AVM) price of $163,176.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Lovington, NM, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Lovington, NM, is $215,502.00, with the most expensive house in Lovington, NM, topping out at $3,660,916.00 and the cheapest home in Lovington, NM, clocking in at $28,194.00. In other words, there’s something for every potential homebuyer or savvy investor in Lovington, NM!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Lovington, NM, is on a rollercoaster ride. The average rent price in Lovington, NM, is $897.00. Indeed, when looking to rent in Lovington, NM, you can expect to pay as little as $580.00 or as much as $2,000.00, with the average rent median estimated to be $870.00. The good news is that finding an affordable and desirable property to rent in Lovington, NM -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Lovington is located in Lea, New Mexico, with an estimated municipal population of 11,489 residents. All of the best foreclosed homes for sale in Lovington are located in the following zip code areas on Foreclosure.com: 88260. The estimated population per square kilometer (.62 miles) in Lovington is 390.
So, about how much do homes cost in Lovington? The most recent median value of resident-owned homes in Lovington is 113,994. An estimated 71.3 percent of households in Lovington own their homes, with an average family size of 3.68. The median household income in Lovington is 51,620, with19.1 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Lovington, the median commute time of resident workers (in minutes) is 24.6. And last, but certainly not least, are you looking for homes to rent in Lovington? If so, the average rent price paid by renters in Lovington is 824, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Lovington, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Lovington is 30.7, split between 49.1 percent male versus 50.9 female. The percentage of residents who report being married in Lovington is 50.7, with an average family size of 3.68.
The percentage of residents who report their race in Lovington is as follows:
|Black / African American
|American Indian / Alaskan Native
|Native Hawaiian / Other Pacifc Islander
Looking for family-friendly neighborhoods in and/or near Lovington? Or maybe you are searching for 55+ active adult communities in and/or near Lovington?
The percentage of residents who report their age in Lovington is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Lovington with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Lovington.
How do you know that living in -- or moving to -- Lovington is right where you need to be? Perhaps you grew up in Lovington or already live nearby; therefore, the decision to buy a home in Lovington is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Lovington for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Lovington:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Lovington.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Lovington can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Lovington, meanwhile, can field multiple offers from more qualified buyers.
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