Corrales, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Corrales Neighborhoods Since 2000




Corrales, NM Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Corrales Housing Market Information

With 8,502 people, 3,432 houses or apartments, and a median cost of homes of $450,101, Corrales house prices are not only among the most expensive in New Mexico, Corrales real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Corrales, accounting for 85.51% of the village's housing units. Other types of housing that are prevalent in Corrales include mobile homes or trailers ( 7.00%), row houses and other attached homes ( 5.30%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.97%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Corrales. Owner-occupied housing accounts for 89.75% of Corrales's homes, and 74.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Corrales built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Corrales built between 2000 and later ( 20.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.91%). There's also some housing in Corrales built before 1939 ( 3.86%).

Corrales Home Appreciation Rates

Corrales's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Corrales during the period has been just -1.34%, which is lower than 80% of US communities.

Over the last year, Corrales appreciation rates have trailed the rest of the nation. In the last twelve months, Corrales's appreciation rate has been 0.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Corrales were at 0.49%, which equates to an annual appreciation rate of 1.99%.

Relative to New Mexico, our data show that Corrales's latest annual appreciation rate is lower than 90% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$450,101

Corrales, NM HOME PRICES

Value Range
> $1,033,000 3.9
$775,001 - $1,033,000 8.7
$516,001 - $775,000 25.3
$413,001 - $516,000 16.4
$310,001 - $413,000 19.9
$206,001 - $310,000 14.7
$103,001 - $206,000 5.6
$51,001 - $103,000 2.6
$0 - $51,000 2.9

Very High for NM
Very High for Nation

Value Relative to Nation Value Relative to State
7.41239892183288 1.72413793103448

Number Of Homes And Apartments:
3,432

Corrales Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NM*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
51.56% 2.44% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$966 / per month

Homeownership Rate

Homeownership
Owners 89.75
Renters 10.25
Vacant 6.15

Housing Market Details

 

Age of Homes

AGE OF Corrales HOMES
2000 or Newer 20.9
1970 - 1999 62.3
1940 - 1969 12.9
1939 or Older 3.9

Types of Homes

TYPE OF Corrales HOMES
Single-Family 85.5
Townhomes 5.3
Small Apt. Buildings 2.0
Apt. Complexes 0.2
Mobile Homes 7.0
Other 0.0

Home Size

SIZE OF Corrales HOMES
No Bedroom 1.48
1 Bedroom 3.99
2 Bedrooms 14.68
3 Bedrooms 50.70
4 Bedrooms 24.17
5 or more bedrooms 4.98

Popular Neighborhoods in Corrales

Zip Codes in Corrales, NM