Here’s my monthly Corrales Real Estate report.
Corrales February Home Sales
There were 7 closed sales in Corrales during February. One of the sales was a foreclosure home, the other 6 sale were regular sales.
Average Square Footage: 3,042
Price per Square Foot: $158
Days on the Market: 188
Average Sales Price: $475,571
Corrales Homes for Sale
There are only a small handful of distressed properties for sale in Corrales. Out of the 95 available homes only 4 are foreclosure homes and only 7 are short sales. That means that less than 15% of the available homes are distressed properties.
Compare that with some hard hit areas in Albuquerque that have up to 40% distressed properties for sale and you will appreciate that Corrales has been relatively unaffected by foreclosure activity.
95 homes available with only 7 homes closing last month means that there is a 13 month inventory of homes. It’s still a buyer’s market in Corrales!
These statistics were compiled from the Greater Albuquerque Association of REALTORS®data on 03/07/2011.