Real-Time Real Estate Market Report
Corrales, NM 87048
Single-Family Homes
Have the Market Insight Before You Buy or Sell
Corrales, NM 87048
Fri Apr 19 2024
This week the median list price for Corrales, NM 87048 is $750,000 with the market action index hovering around 36. This is about the same as last month's market action index of 36. Inventory has decreased to 19.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
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
| Median List Price | $750,000 | |
| Median Price of New Listings | $644,950 | |
| Per Square Foot | $328 | |
| Average Days on Market | 104 | |
| Median Days on Market | 56 | |
| Price Decreased | 37% | |
| Price Increased | 0% | |
| Relisted | 11% | |
| Inventory | 19 | |
| Median Rent | ||
| Market Action | 36 | |
| Slight Seller's Advantage | ||
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.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,900,000 | 8,038 | 2.5 - 5 acres | 4 | 5 | 30 | 0 | 0 | 241 |
| $850,000 | 3,406 | 1 - 2.5 acres | 4 | 4 | 29 | 0 | 0 | 56 |
| $684,900 | 2,062 | 1 - 2.5 acres | 3 | 3 | 31 | 1 | 0 | 21 |
| $599,000 | 2,217 | 1 - 2.5 acres | 3 | 2 | 43 | 1 | 1 | 28 |