Is Corrales, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Corrales was a Seller's Market.
Housing Prices in Corrales, NM
How much do homes in Corrales, NM cost?
Median Sold Price
$685,000
$283/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Corrales was $685,000 in March 2024, down 5.5% from last year, and the median price per square foot was $283.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $572.5K | - | N/A |
2 Bedrooms | $360K | $430K | +19.4% |
3 Bedrooms | $633K | $624.5K | -1.3% |
4 Bedrooms | $806K | $883.5K | +9.6% |
5+ Bedrooms | $1.2M | $1.1M | -7.3% |
Summary: Corrales housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.4%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes decreased by 7.3%.
Median Sold Price Compared To Nearby Cities
Albuquerque | $314.9K | $335.6K | +6.6% |
Rio Rancho | $337K | $352.3K | +4.5% |
Corrales | $725K | $685K | -5.5% |
Housing Supply in Corrales, NM
How many homes are available in Corrales, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
43 | 40 | -7.0% |
Summary: The Corrales real estate market had 40 homes for sale in March 2024, a 7.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 21 | 21 | 0.0% |
4 Bedrooms | 13 | 10 | -23.1% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Corrales housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 4 | -42.9% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Corrales in March 2024, down by 42.9% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Corrales, NM
How long does it take to sell a home in Corrales, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
162 Days | 23 Days | -85.4% |
Summary: Homes in Corrales had an average of 23 days on market in Mar 2024, down by 85.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Corrales; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.