Tue Sep 27 2022
This week the median list price for Albuquerque, NM 87120 is $400,000 with the market action index hovering around 60. This is less than last month's market action index of 64. Inventory has increased to 93.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$400,000|
|Median Price of New Listings||$389,900|
|Per Square Foot||$195|
|Average Days on Market||39|
|Median Days on Market||21|
|Strong Seller's Market|
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its 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|
|$610,000||2,486||8,000 - 10,000 sqft||3||2.5||2||3||2||56|
|$475,000||2,199||6,500 - 8,000 sqft||3||2||12||3||3||21|
|$375,000||2,216||4,500 - 6,500 sqft||4||3||19||5||7||21|
|$279,500||1,585||4,500 - 6,500 sqft||3||2||29||8||6||14|