$175,000
- 1 Bath
500 & 500 1/2 E Stanolind Rd, Hobbs, NM 88240
Kevin White Empire Real Estate Group, LLC
2
Hobbs, NM Multifamily Homes & Duplexes for Sale
-
500 & 500 1/2 E Stanolind Rd, Hobbs, NM 88240
-
$1,200,000
- 15 Beds
- 15 Baths
210 W Dunnam St, Hobbs, NM 88240
210 W Dunnam St, Hobbs, NM 88240Matthew Smith MVMT REALESTATE
Why Live in Hobbs
Hobbs, located in southeast New Mexico near the Texas border, is the largest city in Lea County and serves as a regional commercial hub. Known for its strong ties to the oil and gas industry since its founding in 1907, Hobbs features a mix of midcentury ranch-style homes and modern subdivisions, with housing options ranging from low-key duplexes to luxury properties. The city experiences a semi-arid climate with hot summers. Hobbs High is renowned for its successful boys' and girls' basketball teams. The city offers a variety of attractions, including the Zia Park Casino and Racetrack, Del Norte Park, McAdams Park, and the CORE Center of Recreational Excellence. Dining options are predominantly Mexican and Tex-Mex, concentrated along Turner Street/Lovington Highway and Marland Boulevard. Annual events such as the Veterans' Day and Christmas Parades, along with the Lea County Fair and PRCA Rodeo in nearby Lovington, add to the community spirit. Major highways like U.S. 62 and 180 connect Hobbs to cities like Carlsbad and Lubbock, while Lea County Regional Airport provides daily flights to Houston and Denver.
Home Trends in Hobbs, NM
On average, homes in Hobbs, NM sell after 88 days on the market compared to the national average of 69 days. The median sale price for homes in Hobbs, NM over the last 12 months is $344,500, up 13% from the median home sale price over the previous 12 months.
Housing Trends
Median Sale Price
$344,500
Median Single Family Sale Price
$355,500
Median Townhouse Sale Price
$148,000
Average Price Per Sq Ft
$168
Number of Homes for Sale
3
Last 12 months Home Sales
214
Months of Supply
0.20
Median List Price
$354,279
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
13%
In Hobbs, there are currently 2 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $175,000 to $1,200,000, there's a range to accomodate every budget. As of July, 2025 the median home price in Hobbs is $354,279, while the average sale price is $341,908, offering insights into the local housing market. On average, multi-family homes spend 88 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Hobbs, NM.
Hobbs Types of Homes for Sale
More About Living in Hobbs
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