Is Corrales, NM 87048 a buyer’s or seller’s market?

The Corrales housing market right now

In the three months ending August 31, 2026, 21% of homes in Corrales, NM 87048 sold above their list price, the typical home went under contract in 29 days and there were 4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 34 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 10%, homes sold faster (60 days then) and the median sale price rose 8% to $764,669. Overall, Corrales is more competitive than a year ago, so tougher for buyers.

Within Sandoval County, homes here sell faster than in any other ZIP code in the county, and sell more often over asking than in 90%. On our competition score, Corrales ranks #16 of 51 NM ZIP codes with enough sales (score 51 out of 100).

Nearby, buyers who want less competition could look at Cochiti Lake 87083 (0% sold over asking) or Sandia Park 87047 (0% sold over asking), while Los Alamos 87544 (34% sold over asking) is even more competitive.