Mon Dec 11 2023
This week the median list price for Belen, NM 87002 is $285,000 with the market action index hovering around 40. This is an increase over last month's market action index of 39. Inventory has decreased to 53.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$285,000|
|Median Price of New Listings||$276,900|
|Per Square Foot||$185|
|Average Days on Market||111|
|Median Days on Market||70|
|Slight Seller's Advantage|
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|
|$575,000||2,424||2.5 - 5 acres||3||3||36||1||2||105|
|$299,900||1,841||6,500 - 8,000 sqft||4||2||2||0||2||70|
|$276,900||1,362||6,500 - 8,000 sqft||3||2||0||2||2||28|
|$223,500||1,457||0.25 - 0.5 acre||3||2||58||2||0||59|