Market Conditions Report

Corrales, NM 87048

Single-Family Homes

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Corrales, NM 87048

Wed Jun 16 2021
This week the median list price for Corrales, NM 87048 is $750,000 with the market action index hovering around 61. This is an increase over last month's market action index of 57. Inventory has decreased to 13. Click here to stay informed with the Corrales market!

Market Action Index

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

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Corrales, NM 87048

Wed Jun 16 2021
This week the median list price for Corrales, NM 87048 is $750,000 with the market action index hovering around 61. This is an increase over last month's market action index of 57. Inventory has decreased to 13. Click here to stay informed with the Corrales market!

Market Action Index

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

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Corrales market.
Median List Price $750,000
Median Price of New Listings $714,950
Per Square Foot $278
Average Days on Market 37
Median Days on Market 28
Price Decreased 31%
Price Increased 0%
Relisted 8%
Inventory 13
Median Rent
Market Action 61
Strong Seller's Market

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks 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
$1,599,000 3,393 2.5 - 5 acres 4 4 15 0 0 84
$830,000 3,334 1 - 2.5 acres 4 3 23 0 0 35
$679,900 2,442 1 - 2.5 acres 3 3 16 2 1 0
$314,950 2,442 1 - 2.5 acres 3 2 33 0 0 31