As of today February 1, 2012, Realty Times reports that the average interest rate nationally for a 30 year fixed interest rate loan is 3.98% compared to 3.95% last month. The number of Corrales homes that closed during January 2012 was 5 compared to 5 homes that closed during January 2011. As of close of business on January 31st there were 88 Corrales homes on the market compared to 99 on the market at the same time last year. There were also 10 homes in pending status compared to 18 at the same time last year.
To best understand the market you need to see what the trend has been over the last few years. That information, displayed below is: year, homes sold; average sales price, sales price per square foot; and days on market.
As of close of business on January 31, 2012 there were 88 homes of all classes on the market in Corrales averaging 3287 square feet in size including 11 priced between $1,000,000 and $1,770,000. The average asking price for Corrales homes was $609,003 with a median price of $499,500. The average per square foot asking price is $185. Additionally 10 homes averaging 2436 square feet are in pending status meaning they have sold but not closed. The average asking price for these pending homes was $381,420 and the median price $297,450. The average days on the market was 179. The average per square foot asking price was $157. During the month 5 homes averaging 2847 square feet closed in Corrales at an average price of $430,780, and a median price of $525,000. The average days on the market was 92 and the average per square foot price was $151. To best understand the market these numbers should be compared with those for last year and years past.
As my report shows the market continues to change. The continuing historic low interest rates put a lot of homes within reach of people who could not have afforded them in the past. I've had to totally change the way I market real estate. However, there are great opportunities out there for both buyers and sellers. If you are in the market to buy or sell you want to put your trust in someone who knows the market conditions in this area. Please contact us by phone (505-922-0622) or email (landjsalas@msn.com) if you are interested in buying or selling in Corrales or elsewhere in the region or just in knowing the market conditions in a particular area of town or subdivision.
ZIP Code: 87048 Location Characteristics: Corrales is an historic country village bordering Albuquerque's north west side and located just west of the Rio Grande River. Corrales has family farms and orchards and many of its residents own horses. Corrales is also known for its fine restaurants and its shops and art galleries. A recent "Money" magazine looked at 300 small towns and then chose the 100 best small towns in America and Corrales is pleased to be recognized as the 19th best. The average home price is over $450,000 and most homes are on 1 acre of land or more.
About Larry and Judy Salas:
Both Larry and Judy are graduates of the University of New Mexico. Larry has a Master's Degree in Business Administration from the George Washington University and is a native New Mexican. With the Salas team you can expect: - Over 20 years of real estate experience. - Someone who will work tirelessly in your behalf. - Honesty and integrity above all.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
