Sat Feb 04 2023
This week the median list price for Albuquerque, NM 87114 is $395,000 with the market action index hovering around 47. This is about the same as last month's market action index of 47. Inventory has decreased to 70.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$395,000|
|Median Price of New Listings||$314,900|
|Per Square Foot||$191|
|Average Days on Market||78|
|Median Days on Market||70|
|Strong Seller's Market|
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$609,990||2,800||0.25 - 0.5 acre||4||3||15||0||4||112|
|$440,000||2,650||6,500 - 8,000 sqft||4||3||17||0||5||91|
|$355,000||2,151||4,500 - 6,500 sqft||3||3||18||3||3||42|
|$309,999||1,684||4,500 - 6,500 sqft||3||2||22||8||8||28|