Real-Time Real Estate Market Report

Corrales, NM 87048

Single-Family Homes

Have the Market Insight Before You Buy or Sell



Corrales, NM 87048

Sun Feb 25 2024
This week the median list price for Corrales, NM 87048 is $797,000 with the market action index hovering around 36. This is an increase over last month's market action index of 34. Inventory has decreased to 18. Click here to stay informed with the Corrales market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Corrales, NM 87048

Sun Feb 25 2024
This week the median list price for Corrales, NM 87048 is $797,000 with the market action index hovering around 36. This is an increase over last month's market action index of 34. Inventory has decreased to 18. Click here to stay informed with the Corrales market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Real-Time Market Profile

Never miss important changes in the Corrales market.
Median List Price $797,000
Median Price of New Listings $862,000
Per Square Foot $305
Average Days on Market 105
Median Days on Market 39
Price Decreased 39%
Price Increased 0%
Relisted 6%
Inventory 18
Median Rent
Market Action 36
Slight Seller's Advantage

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$2,840,000 7,049 2.5 - 5 acres 4 5.5 30 1 0 171
$1,324,500 4,632 1 - 2.5 acres 5 5 26 1 0 101
$775,000 2,316 1 - 2.5 acres 4 3 30 1 0 84
$525,000 1,881 1 - 2.5 acres 3 2 29 1 2 21