Real-Time Real Estate Market Report
Corrales, NM 87048
Single-Family Homes
Have the Market Insight Before You Buy or Sell
Corrales, NM 87048
Mon Jun 05 2023
This week the median list price for Corrales, NM 87048 is $1,082,400 with the market action index hovering around 46. This is an increase over last month's market action index of 44. Inventory has increased to 16.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $1,082,400 | |
| Median Price of New Listings | $715,000 | |
| Per Square Foot | $295 | |
| Average Days on Market | 50 | |
| Median Days on Market | 39 | |
| Price Decreased | 44% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 16 | |
| Median Rent | ||
| Market Action | 46 | |
| Strong Seller's Market | ||
Prices in this zip code are bouncing around near term trough. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,825,000 | 9,492 | 2.5 - 5 acres | 5 | 6.5 | 29 | 1 | 0 | 14 |
| $1,449,250 | 4,206 | 1 - 2.5 acres | 4 | 4.5 | 18 | 0 | 0 | 42 |
| $737,000 | 3,122 | 0.5 - 1 acre | 4 | 3 | 26 | 1 | 0 | 35 |
| $584,450 | 2,109 | 0.5 - 1 acre | 3 | 2.5 | 37 | 1 | 2 | 66 |