Market Conditions Report

Corrales, NM 87048

Single-Family Homes

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Corrales, NM 87048

Sun Aug 01 2021
This week the median list price for Corrales, NM 87048 is $850,000 with the market action index hovering around 59. This is less than last month's market action index of 65. Inventory has increased to 14. 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

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Corrales, NM 87048

Sun Aug 01 2021
This week the median list price for Corrales, NM 87048 is $850,000 with the market action index hovering around 59. This is less than last month's market action index of 65. Inventory has increased to 14. 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

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Corrales market.
Median List Price $850,000
Median Price of New Listings $894,000
Per Square Foot $286
Average Days on Market 52
Median Days on Market 39
Price Decreased 36%
Price Increased 0%
Relisted 14%
Inventory 14
Median Rent
Market Action 59
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
$1,599,000 3,393 2.5 - 5 acres 4 4 15 0 0 133
$1,299,000 3,850 1 - 2.5 acres 4 5 30 1 2 7
$772,000 2,585 1 - 2.5 acres 3 3 18 0 0 56
$674,950 2,634 1 - 2.5 acres 3 3 33 1 0 31