Single-Family Homes
Thu Feb 06 2025
This week the median list price for Corrales, NM 87048 is $995,000 with the market action index hovering around 41. This is less than last month's market action index of 42. Inventory has increased to 21.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Median List Price | $995,000 | |
Median Price of New Listings | $555,000 | |
Per Square Foot | $312 | |
Average Days on Market | 98 | |
Median Days on Market | 77 | |
Price Decreased | 52% | |
Price Increased | 0% | |
Relisted | 10% | |
Inventory | 21 | |
Median Rent | ||
Market Action | 41 | |
Slight Seller's Advantage |
Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$1,950,000 | 5,005 | - | 5 | 5 | 22 | 1 | 0 | 28 |
$1,199,000 | 3,563 | 1 - 2.5 acres | 4 | 4 | 3 | 0 | 1 | 147 |
$950,000 | 3,245 | - | 4 | 4 | 24 | 0 | 1 | 49 |
$555,000 | 1,756 | 0.25 - 0.5 acre | 3 | 2 | 43 | 3 | 1 | 87 |