Thu Sep 21 2023
This week the median list price for Albuquerque, NM 87111 is $509,900 with the market action index hovering around 61. This is an increase over last month's market action index of 59. Inventory has decreased to 45.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$509,900|
|Median Price of New Listings||$514,950|
|Per Square Foot||$224|
|Average Days on Market||49|
|Median Days on Market||35|
|Strong Seller's Market|
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,175,000||4,004||0.25 - 0.5 acre||4||4||27||2||3||42|
|$585,000||2,365||8,000 - 10,000 sqft||4||3||30||4||1||35|
|$445,000||1,958||6,500 - 8,000 sqft||4||2.5||56||3||4||35|
|$378,500||1,928||8,000 - 10,000 sqft||3||2||51||3||5||14|