511 E Palace Ave, Hobbs, NM 88240
OFF MARKET

$131,800

Trulia Estimate
  • Studio
  • 978 sqft

511 E Palace Ave, Hobbs, NM 88240

Est. Refi. Payment $902/mo*
Refinance Your Home

Home Value

Trulia Estimate
$132K
Since last month
Decreased$300 (-0.2%)
Since last year
Increased$11K (+9.4%)
Since last sale
Decreased$1M (-89.7%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value decreased by -90% in the last 10 years
MonthEstimated value
2026
September 2026$132K
August 2026$132K
July 2026$136K
June 2026$143K
May 2026$148K
April 2026$136K
March 2026$141K
February 2026$133K
January 2026$122K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
507 E Palace Ave, Hobbs, NM
0.02
Single-Family Home
-
05/18/26
3
1
1,078
1217 S Selman St, Hobbs, NM
0.15
Single-Family Home
-
06/11/26
2
1
872
602 E Mesquite Dr, Hobbs, NM
0.26
Single-Family Home
-
11/17/25
3
1
1,000
1206 S Houston St, Hobbs, NM
0.23
Single-Family Home
-
12/22/25
3
1
1,143
1206 S Starling Dr, Hobbs, NM
0.26
Single-Family Home
-
03/10/26
3
2
1,164
1236 S Short St, Hobbs, NM
0.27
Single-Family Home
-
12/22/25
3
2
1,284
1616 S Turner St, Hobbs, NM
0.40
Single-Family Home
-
01/29/26
3
2
2,072
1603 S Cochran St, Hobbs, NM
0.63
Single-Family Home
-
03/06/26
2
1
1,060
400 W Midwest St, Hobbs, NM
0.72
Single-Family Home
-
08/03/26
2
1
863
610 E Gypsy St, Hobbs, NM
0.75
Single-Family Home
-
06/01/26
3
2
1,175

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
501 E Palace Ave, Hobbs, NM 88240
0.03
$172,000
2
1
998
For Sale
507 E Palace Ave, Hobbs, NM 88240
0.02
-
3
1
1,078
Recently Sold
403 E Temple Ave, Hobbs, NM 88240
0.10
$156,200
3
1
1,364
Off Market
1701 S Houston St, Hobbs, NM 88240
0.10
$82,400
3
1
1,238
Off Market
1412 S Perry Dr, Hobbs, NM 88240
0.12
$114,500
2
1
1,100
Off Market
1217 S Selman St, Hobbs, NM 88240
0.15
-
2
1
872
Recently Sold
1217 S Morris St, Hobbs, NM 88240
0.16
$103,800
2
1
897
Off Market
1212 S Selman St, Hobbs, NM 88240
0.18
$137,300
2
1
812
Off Market
1327 S Perry Dr, Hobbs, NM 88240
0.20
$220,000
2
1
1,208
For Sale
306 E Stanolind Rd, Hobbs, NM 88240
0.24
$177,200
3
2
1,255
Off Market
1206 S Houston St, Hobbs, NM 88240
0.23
-
3
1
1,143
Recently Sold
1236 S Short St, Hobbs, NM 88240
0.27
-
3
2
1,284
Recently Sold

Local Information

  • Map ViewExplore the area around 511 E Palace Ave.
  • Schools1 Preschool School1 Elementary School1 Middle School2 High Schools
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
Built in 1989
978 sqft
$135/sqft

About this House

This single-family home is located at 511 E Palace Ave, Hobbs, NM. 511 E Palace Ave is in Hobbs, NM and in ZIP code 88240. This property has approximately 978 sqft of floor space. This property was built in 1989.
511 E Palace Ave, Hobbs, NM 88240 is a studio, 978 sqft single-family home built in 1989. It was last sold on Jun 13, 2016. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $131,800, with a rent estimate of $1,324/month.

Home Details for 511 E Palace Ave

Interior Features

Levels, Entrance, & Accessibility
Stories: 1

Property Information

Year Built
Year Built: 1989
Property Type / Style
Property Type: Single Family Home

Price and Tax history

DateEventPrice
Jun 13, 2016
Source: N/A
Sold
--

Market trends in Hobbs

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$273K
$14.92KMoM
Sale-to-List Price
98.4%
0.8%MoM
Price per sq ft
$144
$5MoM
Available listings
101
13MoM

Around this home

What Locals Say about Hobbs

At least 122 Trulia users voted on each feature.

  • 84 % Say car is needed

  • 79 % Say there are sidewalks

  • 75 % Say yards are well-kept

  • 71 % Say parking is easy

  • 64 % Say it's dog friendly

  • 62 % Say there's holiday spirit

  • 62 % Say it's quiet

  • 60 % Say kids play outside

  • 54 % Say people would walk alone at night

  • 48 % Say streets are well-lit

  • 40 % Say neighbors are friendly

  • 39 % Say it's walkable to restaurants

  • 38 % Say they plan to stay for at least 5 years

  • 37 % Say it's walkable to grocery stores

  • 34 % Say there's wildlife

  • 24 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Christina Grayson
    "Nothing we live on a busy street with lots of traffic but a lot of people walk in the mornings and later in the afternoon with their children and dogs"
    0
    Flag
  • Christina Grayson
    "Neighbor is great a little busy but overall not a bad place to live close to restaurants and shopping "
    2
    Flag
  • Amber Villalobos
    "Stray dogs wandering around. Stray cats wandering around as well. "
    0
    Flag
  • Myrna S.
    "My neighborhood is quiet and serene and we all feel safe. We have friendly people and we can depend on each other. "
    0
    Flag
  • Jose C.
    "Good people live in this area, my neighborhood is quite and not a lot of traffic. The schools are great in the area also "
    0
    Flag
  • Tolarerica
    "It is insanely difficult to find a decent family home for a reasonable price in a good neighborhood. Cost of living is way too high. "
    1
    Flag
  • Larebilyrag
    "I do not think there are any at all. I just go to work, and sleep after and go to work again and even hardly see my neighbors."
    0
    Flag
  • Nipamgalavez
    "Dog owners would like the fact that we have sidewalks on every street here. People seem to be very friendly on my street in Hobbs. Number one thing that’s great here in Hobbs is that every home in this neighborhood has cinder block fences. So other dogs are put away and won’t be running the streets when you are walking your own dog down the sidewalks. "
    0
    Flag
  • Brittany_gliver
    "I’ve lived in this neighborhood for 8 years and we’ve never had any problems! Neighbors are friendly and give a genuine wave when passing by!"
    0
    Flag
  • Jerrywayneteel
    "oilfield is booming and always hiring great opportunity for anyone and with that it provides for all other business to keep them going and paying well Hobbs has a casino and now built the core center that is awesome for children and adults has a pool with slides a gym and more "
    0
    Flag
  • Jennifer E.
    "it's a nice and peaceful neighborhood, the people are very friendly. i live across the street to a middle school and the children are very nice and polite"
    0
    Flag
  • Mmlionheart
    "Nothing can’t be outside after dark to many drive bys not a good area people steal from your cars yard break In throw rocks throw bottles poison animals and plus neighbors keep yards so dirty junk yards old cars don’t run keep on lawn in kept yards not a good neighborhood at all"
    3
    Flag
  • Jaci L.
    "In my neighborhood people have no concern for anyone else but themselves. Landlord does not care about tenants. Maintenance inn my housing community outs great though when they can actually do their job. "
    0
    Flag
  • Suzy G.
    "I have lived in the area for more than 30 years.....Its a great family oriented area with a highly rated school......."
    3
    Flag

LGBTQ Local Legal Protections

Frequently asked questions about 511 E Palace Ave

  • What is 511 E Palace Ave estimated to be worth?
    Trulia's estimated value for 511 E Palace Ave in Hobbs, NM is $131,800.
  • What is the price history for 511 E Palace Ave?
    511 E Palace Ave in Hobbs, NM last sold in June 2016.
  • Is Hobbs a buyer's or seller's market?
    Hobbs is currently a seller's market, based on recent for-sale activity.
  • What's the median sale price in Hobbs?
    The median sale price in Hobbs is $273K. That is down $14.92K from the prior month.

Explore by feature - Pet Friendly

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