Market Conditions Report
Corrales, NM 87048
Single-Family Homes
A Real-Time Look at the Real Estate Marketplace
Corrales, NM 87048
Tue Aug 09 2022
This week the median list price for Corrales, NM 87048 is $857,000 with the market action index hovering around 48. This is an increase over last month's market action index of 47. Inventory has held steady at or around 24.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.
Real-Time Market Profile
| Median List Price | $857,000 | |
| Median Price of New Listings | $817,950 | |
| Per Square Foot | $253 | |
| Average Days on Market | 62 | |
| Median Days on Market | 32 | |
| Price Decreased | 33% | |
| Price Increased | 0% | |
| Relisted | 4% | |
| Inventory | 24 | |
| Median Rent | ||
| Market Action | 48 | |
| Strong Seller's Market | ||
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,293,000 | 4,749 | 1 - 2.5 acres | 4 | 4 | 23 | 0 | 0 | 38 |
| $998,400 | 3,474 | 1 - 2.5 acres | 4 | 3 | 30 | 1 | 0 | 35 |
| $799,950 | 3,649 | 1 - 2.5 acres | 4 | 3.5 | 35 | 3 | 2 | 49 |
| $514,500 | 2,324 | 1 - 2.5 acres | 3 | 2 | 49 | 2 | 3 | 21 |