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 Jul 26 2024
This week the median list price for Corrales, NM 87048 is $749,000 with the market action index hovering around 35. This is an increase over last month's market action index of 34. Inventory has increased to 33.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $749,000 | |
| Median Price of New Listings | $599,000 | |
| Per Square Foot | $308 | |
| Average Days on Market | 82 | |
| Median Days on Market | 49 | |
| Price Decreased | 61% | |
| Price Increased | 6% | |
| Relisted | 3% | |
| Inventory | 33 | |
| Median Rent | ||
| Market Action | 35 | |
| Slight Seller's Advantage | ||
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,065,000 | 4,573 | 1 - 2.5 acres | 3 | 4 | 32 | 1 | 0 | 115 |
| $824,950 | 2,490 | 1 - 2.5 acres | 3 | 3 | 17 | 1 | 0 | 38 |
| $740,000 | 2,421 | 1 - 2.5 acres | 3 | 2.5 | 37 | 0 | 1 | 59 |
| $545,000 | 1,792 | 0.5 - 1 acre | 3 | 2 | 43 | 3 | 1 | 42 |