Tue Sep 27 2022
This week the median list price for Albuquerque, NM 87123 is $400,000 with the market action index hovering around 69. This is an increase over last month's market action index of 66. Inventory has decreased to 37.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$400,000|
|Median Price of New Listings||$352,450|
|Per Square Foot||$191|
|Average Days on Market||67|
|Median Days on Market||35|
|Strong Seller's Market|
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$725,000||3,344||0.5 - 1 acre||4||4||42||0||1||56|
|$468,990||2,065||6,500 - 8,000 sqft||4||3||12||1||1||84|
|$375,000||2,088||4,500 - 6,500 sqft||4||3||26||3||4||28|
|$260,000||1,524||6,500 - 8,000 sqft||3||2||46||2||6||14|