Tue Jun 06 2023
This week the median list price for Albuquerque, NM 87108 is $370,000 with the market action index hovering around 66. This is less than last month's market action index of 68. 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||$370,000|
|Median Price of New Listings||$389,000|
|Per Square Foot||$190|
|Average Days on Market||49|
|Median Days on Market||35|
|Strong Seller's Market|
Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$687,000||3,275||8,000 - 10,000 sqft||3||3||69||1||0||17|
|$452,000||2,398||6,500 - 8,000 sqft||3||2.5||66||1||2||24|
|$359,750||1,599||4,500 - 6,500 sqft||3||2||73||0||0||45|
|$274,970||1,798||6,500 - 8,000 sqft||2||2||68||1||2||56|