Mon Dec 11 2023
This week the median list price for Albuquerque, NM 87123 is $349,312 with the market action index hovering around 55. This is less than last month's market action index of 57. Inventory has held steady at or around 38.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$349,312|
|Median Price of New Listings||$328,250|
|Per Square Foot||$198|
|Average Days on Market||73|
|Median Days on Market||35|
|Strong Seller's Market|
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$675,000||3,205||0.5 - 1 acre||4||3||50||0||2||35|
|$419,900||2,176||4,500 - 6,500 sqft||3||2.5||27||1||3||70|
|$304,000||1,748||4,500 - 6,500 sqft||3||2.5||35||2||1||28|
|$271,200||1,243||6,500 - 8,000 sqft||3||2||55||1||4||24|