Tue Sep 27 2022
This week the median list price for Sandia Park, NM 87047 is $695,000 with the market action index hovering around 40. This is an increase over last month's market action index of 39. Inventory has decreased to 17.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$695,000|
|Median Price of New Listings||$0|
|Per Square Foot||$245|
|Average Days on Market||110|
|Median Days on Market||63|
|Slight Seller's Advantage|
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,712,500||5,953||10 - 20 acres||4||4.5||11||0||0||101|
|$1,047,497||3,532||1 - 2.5 acres||4||3.5||15||0||1||91|
|$537,500||2,621||1 - 2.5 acres||3||3||20||0||2||70|
|$335,000||1,688||0.5 - 1 acre||3||2||44||0||1||28|