Single-Family Homes
Sun Mar 07 2021
This week the median list price for Corrales, NM 87048 is $836,500 with the market action index hovering around 50. This is an increase over last month's market action index of 47. Inventory has held steady at or around 12.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Median List Price | $836,500 | |
Per Square Foot | $227 | |
Days on Market | 77 | |
Price Decreased | 50% | |
Price Increased | 0% | |
Relisted | 0% | |
Inventory | 12 | |
Median Rent | ||
Most Expensive | $1,949,000 | |
Least Expensive | $419,000 | |
Market Action | 50 | |
Strong Seller's Market |
While this week the median price in this zip code didn’t fluctuate much, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$1,300,000 | 3,353 | 2.5 - 5 acres | 4 | 4 | 7 | 0 | 0 | 147 |
$965,000 | 4,036 | 1 - 2.5 acres | 4 | 5 | 18 | 1 | 0 | 35 |
$639,000 | 2,848 | 0.5 - 1 acre | 4 | 3 | 27 | 2 | 0 | 0 |
$439,000 | 2,900 | 1 - 2.5 acres | 4 | 3 | 27 | 0 | 0 | 77 |