Tue May 18 2021
This week the median list price for Albuquerque, NM 87113 is $490,000 with the market action index hovering around 56. This is less than last month's market action index of 59. Inventory has held steady at or around 17.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$490,000|
|Median Price of New Listings||$457,000|
|Per Square Foot||$187|
|Average Days on Market||106|
|Median Days on Market||21|
|Strong Seller's Market|
The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$889,900||3,722||6,500 - 8,000 sqft||4||4||0||0||0||472|
|$597,900||2,991||6,500 - 8,000 sqft||3||3||12||3||0||0|
|$432,500||2,207||4,500 - 6,500 sqft||3||3||18||0||0||38|
|$359,900||2,045||0.25 - 0.5 acre||3||2||57||3||3||0|