Tue Sep 27 2022
This week the median list price for Albuquerque, NM 87111 is $419,000 with the market action index hovering around 64. This is less than last month's market action index of 65. Inventory has increased to 57.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$419,000|
|Median Price of New Listings||$372,000|
|Per Square Foot||$201|
|Average Days on Market||49|
|Median Days on Market||28|
|Strong Seller's Market|
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$995,000||4,278||0.25 - 0.5 acre||4||4||32||2||2||35|
|$485,000||2,396||8,000 - 10,000 sqft||4||3||43||3||1||35|
|$378,500||2,001||6,500 - 8,000 sqft||3||2||51||5||4||31|
|$330,000||1,742||6,500 - 8,000 sqft||3||2||40||4||2||14|