Sat Jun 10 2023
This week the median list price for Albuquerque, NM is $485,000 with the market action index hovering around 60. This is less than last month's market action index of 61. Inventory has increased to 415.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$485,000|
|Median Price of New Listings||$400,000|
|Per Square Foot||$214|
|Average Days on Market||67|
|Median Days on Market||28|
|Strong Seller's Market|
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$845,000||3,480||0.25 - 0.5 acre||4||3||28||14||7||56|
|$566,948||2,577||6,500 - 8,000 sqft||4||3||21||16||11||28|
|$422,000||2,105||6,500 - 8,000 sqft||4||3||27||28||31||17|
|$295,000||1,511||4,500 - 6,500 sqft||3||2||50||42||34||14|