Is Corrales, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Corrales has remained a Seller's Market.
Key Takeaway
Corrales is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Corrales, NM
How much do homes in Corrales, NM cost?
Median Sold Price
$718,500
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Corrales have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Corrales was $718,500 in May 2024, up 5.3% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $600K | - | N/A |
| 2 Bedrooms | $355K | $520K | +46.5% |
| 3 Bedrooms | $631.7K | $630K | -0.3% |
| 4 Bedrooms | $760K | $906.2K | +19.2% |
| 5+ Bedrooms | $1.4M | $1.2M | -9.7% |
Summary: Corrales housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 46.5%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes decreased by 9.7%.
Median Sold Price Compared To Nearby Cities
| Albuquerque | $317.1K | $339.5K | +7.0% |
| Corrales | $682.5K | $718.5K | +5.3% |
| Rio Rancho | $340.1K | $353.5K | +3.9% |
Housing Supply in Corrales, NM
How many homes are available in Corrales, NM?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 54 | +3.8% |
Summary: The Corrales real estate market had 54 homes for sale in May 2024, a 3.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 34 | 34 | 0.0% |
| 4 Bedrooms | 9 | 13 | +44.4% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Corrales housing inventory by bedroom type for May 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 increased by 44.4%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Corrales, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Corrales in May 2024, up by 33.3% month-over-month. Of the 12 sold homes, 75% were sold under asking, 17% were sold at asking, and 8% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 66 Days | +20.6% |
Summary: Homes in Corrales had an average of 66 days on market in May 2024, up by 20.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Corrales has remained consistent over time.
Summary: During May 2024, 12 homes were sold in Corrales; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. 
The data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.