Market Conditions Report

Corrales, NM 87048

Single-Family Homes

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Corrales, NM 87048

Wed Sep 22 2021
This week the median list price for Corrales, NM 87048 is $1,199,000 with the market action index hovering around 51. This is less than last month's market action index of 52. Inventory has increased to 17. 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

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.

Corrales, NM 87048

Wed Sep 22 2021
This week the median list price for Corrales, NM 87048 is $1,199,000 with the market action index hovering around 51. This is less than last month's market action index of 52. Inventory has increased to 17. 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

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.

Real-Time Market Profile

Never miss important changes in the Corrales market.
Median List Price $1,199,000
Median Price of New Listings $924,950
Per Square Foot $259
Average Days on Market 24
Median Days on Market 7
Price Decreased 18%
Price Increased 0%
Relisted 12%
Inventory 17
Median Rent
Market Action 51
Strong Seller's Market

Price trends in this zip code continued their recent uptrend this week. While still below the market's high point, we've seen a nice run recently.

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
$1,772,500 6,135 1 - 2.5 acres 4 4 19 1 0 14
$1,410,000 3,824 1 - 2.5 acres 4 3 15 1 1 35
$1,090,000 3,704 1 - 2.5 acres 3 4 22 1 3 31
$625,000 2,507 1 - 2.5 acres 4 3 41 3 3 0