Tue May 11 2021
This week the median list price for Sandia Park, NM 87047 is $765,000 with the market action index hovering around 45. This is less than last month's market action index of 49. Inventory has increased to 17.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$765,000|
|Median Price of New Listings||$650,000|
|Per Square Foot||$215|
|Average Days on Market||77|
|Median Days on Market||21|
|Strong Seller's Market|
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$2,012,500||6,538||10 - 20 acres||4||4||15||1||0||80|
|$882,000||2,949||5 - 10 acres||3||3||6||0||0||45|
|$707,450||3,495||2.5 - 5 acres||3||3||17||2||1||28|
|$529,000||2,500||5 - 10 acres||4||3||11||2||1||14|