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Corrales, NM Real Estate Market

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 Q2 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Corrales, NM Housing Market Trends

With 8,584 people, 3,553 houses or apartments, and a median cost of homes of $680,024, 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 87.32% of the village's housing units. Other types of housing that are prevalent in Corrales include row houses and other attached homes ( 6.70%), mobile homes or trailers ( 5.99%).

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 91.27% of Corrales's homes, and 79.37% 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 ( 18.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.83%). There's also some housing in Corrales built before 1939 ( 3.59%).

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 4.68%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Corrales's appreciation rate, at 6.20%, has been at or slightly above the national average. In the latest quarter, Corrales's appreciation rate has been 2.76%, which annualizes to a rate of 11.50%.

Relative to New Mexico, our data show that Corrales's latest annual appreciation rate is lower than 70% of the other cities and towns in New Mexico.

Average Home Values

Median Home Value

$680,024

Corrales, NM Home Prices
> $1,389,000
$1,041,001 - $1,389,000
$694,001 - $1,041,000
$555,001 - $694,000
$416,001 - $555,000
$278,001 - $416,000
$139,001 - $278,000
$70,001 - $139,000
$0 - $70,000
6.1%
6.1%
7.8%
7.8%
24.1%
24.1%
19.8%
19.8%
28.7%
28.7%
10.0%
10.0%
1.5%
1.5%
0.5%
0.5%
1.6%
1.6%
0% 100.0%
% of Homes
Very High

for New mexico

Very High

for nation

Number of Homes And Apartments:

3,553

Corrales Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,202 / per month

Homeownership Rate

Owners
Renters
Vacant
91.3%
91.3%
8.7%
8.7%
9.5%
9.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
18.1%
18.1%
64.4%
64.4%
13.8%
13.8%
3.6%
3.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
87.3%
87.3%
6.7%
6.7%
0.0%
0.0%
0.0%
0.0%
6.0%
6.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.2%
3.2%
0.6%
0.6%
12.0%
12.0%
49.3%
49.3%
30.1%
30.1%
4.9%
4.9%
0% 100.0%
% of Homes

Popular Neighborhoods in Corrales

Zip Codes in Corrales, NM