Mon Dec 11 2023
This week the median list price for Albuquerque, NM 87106 is $492,000 with the market action index hovering around 49. This is an increase over last month's market action index of 45. Inventory has increased to 22.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$492,000|
|Median Price of New Listings||$418,000|
|Per Square Foot||$230|
|Average Days on Market||77|
|Median Days on Market||56|
|Strong Seller's Market|
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$667,000||2,680||6,500 - 8,000 sqft||3||3||73||0||1||56|
|$549,900||2,421||6,500 - 8,000 sqft||3||3||58||0||1||49|
|$472,000||1,843||6,500 - 8,000 sqft||3||2||65||0||3||77|
|$371,000||1,821||6,500 - 8,000 sqft||3||2||74||1||4||63|