Market Conditions Report

Corrales, NM 87048

Single-Family Homes

A Real-Time Look at the Real Estate Marketplace



Corrales, NM 87048

Tue Sep 27 2022
This week the median list price for Corrales, NM 87048 is $775,000 with the market action index hovering around 45. This is less than last month's market action index of 47. Inventory has held steady at or around 21. 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.

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.

Corrales, NM 87048

Tue Sep 27 2022
This week the median list price for Corrales, NM 87048 is $775,000 with the market action index hovering around 45. This is less than last month's market action index of 47. Inventory has held steady at or around 21. 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.

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.

Real-Time Market Profile

Never miss important changes in the Corrales market.
Median List Price $775,000
Median Price of New Listings $1,600,000
Per Square Foot $270
Average Days on Market 77
Median Days on Market 63
Price Decreased 62%
Price Increased 0%
Relisted 0%
Inventory 21
Median Rent
Market Action 45
Strong Seller's Market

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

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
$1,299,000 4,878 1 - 2.5 acres 4 4 26 1 1 98
$875,000 3,029 1 - 2.5 acres 3 3 20 0 0 49
$715,000 3,340 0.5 - 1 acre 4 4 34 0 0 98
$510,000 1,984 0.5 - 1 acre 3 2 42 0 1 63