Tue May 18 2021
This week the median list price for Corrales, NM 87048 is $825,000 with the market action index hovering around 56. This is about the same as last month's market action index of 56. Inventory has increased to 14.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$825,000|
|Median Price of New Listings||$520,000|
|Per Square Foot||$256|
|Average Days on Market||32|
|Median Days on Market||32|
|Strong Seller's Market|
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,469,000||3,393||2.5 - 5 acres||3||3||41||1||0||56|
|$935,000||4,036||1 - 2.5 acres||4||5||23||0||0||42|
|$737,500||3,390||1 - 2.5 acres||4||3||29||1||2||31|
|$245,000||1,287||0.5 - 1 acre||2||1||48||2||1||7|