Mon Dec 11 2023
This week the median list price for Albuquerque, NM 87120 is $469,900 with the market action index hovering around 44. This is less than last month's market action index of 46. Inventory has increased to 99.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$469,900|
|Median Price of New Listings||$525,000|
|Per Square Foot||$204|
|Average Days on Market||65|
|Median Days on Market||42|
|Slight Seller's Advantage|
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$699,499||3,384||0.25 - 0.5 acre||4||4||9||3||2||66|
|$525,000||2,516||6,500 - 8,000 sqft||3||3||6||6||1||49|
|$430,000||2,199||6,500 - 8,000 sqft||4||2||18||1||2||49|
|$335,000||1,704||6,500 - 8,000 sqft||3||2||32||5||6||21|