Market Conditions Report

Corrales, NM 87048

Single-Family Homes

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Corrales, NM 87048

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. 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

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.

Corrales, NM 87048

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. 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

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.

Real-Time Market Profile

Never miss important changes in the Corrales 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
Price Decreased 29%
Price Increased 0%
Relisted 0%
Inventory 14
Median Rent
Market Action 56
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.

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
$1,469,000 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