Market Conditions Report

Cedar Crest, NM 87008

Single-Family Homes

A Real-Time Look at the Real Estate Marketplace



Cedar Crest, NM 87008

Thu Dec 08 2022
This week the median list price for Cedar Crest, NM 87008 is $464,450 with the market action index hovering around 51. This is less than last month's market action index of 52. Inventory has held steady at or around 4. Click here to stay informed with the Cedar Crest market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Cedar Crest, NM 87008

Thu Dec 08 2022
This week the median list price for Cedar Crest, NM 87008 is $464,450 with the market action index hovering around 51. This is less than last month's market action index of 52. Inventory has held steady at or around 4. Click here to stay informed with the Cedar Crest market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Real-Time Market Profile

Never miss important changes in the Cedar Crest market.
Median List Price $464,450
Median Price of New Listings $0
Per Square Foot $183
Average Days on Market 61
Median Days on Market 49
Price Decreased 50%
Price Increased 0%
Relisted 0%
Inventory 4
Median Rent
Market Action 51
Strong Seller's Market

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$889,900 4,481 5 - 10 acres 3 3 40 0 0 126
$589,900 3,195 2.5 - 5 acres 4 4 27 0 0 42
$339,000 1,858 0.5 - 1 acre 2 2 43 0 1 56
$299,000 1,798 1 - 2.5 acres 3 2 NaN 0 0 21