Why Live in Madrid
Madrid, a neighborhood in Cerrillos, is nestled along the scenic Turquoise Trail, featuring homes primarily consisting of miner’s cabins from the 1870s to 1930s. These brightly painted homes often include wraparound porches, pitched metal roofs, and board and batten exteriors, situated on quarter-acre lots with gardens and artist studios. The area is surrounded by desert hills with undeveloped parcels available for those looking to build, though water sourcing can be costly. Madrid is known for its vibrant community and unique attractions, including the Mine Shaft Tavern and Cantina, Refinery 14, and Java Junction. Art enthusiasts can explore local galleries like Indigo Gallery and Belle of the West. The neighborhood lacks a grocery store, with the nearest Walmart Supercenter located 20 miles away in Santa Fe. Residents enjoy outdoor activities at nearby Cerrillos Hills State Park, which offers over 1,100 acres of trails and historic mines. The Oscar Huber Memorial Ballpark hosts local baseball games and special events. Community events, such as the Madrid Christmas Parade, foster a strong sense of local pride. The Turquoise Trail provides picturesque commutes to Santa Fe, 28 miles north, and Albuquerque, 46 miles south. Public transportation is available via North Central Regional Transit District buses. For education, local children attend Santa Fe Public Schools, with Santa Fe High being highly rated. The area has a low crime risk compared to the national average, contributing to its appeal for potential home buyers.
Home Trends in Madrid, NM
On average, homes in Madrid, Cerrillos sell after 151 days on the market compared to the national average of 51 days. The median sale price for homes in Madrid, Cerrillos over the last 12 months is $295,000, down 15% from the median home sale price over the previous 12 months.
Median Sale Price
$295,000
Median Single Family Sale Price
$414,500
Average Price Per Sq Ft
$345
Number of Homes for Sale
6
Last 12 months Home Sales
6
Median List Price
$444,000
Median Change From 1st List Price
14%
Median Home Sale Price YoY Change
-15%