Sat Jan 16 2021
This week the median list price for Rio Rancho, NM 87144 is $340,030 with the market action index hovering around 55. This is less than last month's market action index of 56. Inventory has held steady at or around 96.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$340,030|
|Per Square Foot||$158|
|Days on Market||70|
|Strong Seller's Market|
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$466,500||2,900||0.5 - 1 acre||4||3||4||2||3||108|
|$368,495||2,356||4,500 - 6,500 sqft||3||3||1||2||3||70|
|$315,000||2,302||4,500 - 6,500 sqft||4||3||1||5||6||65|
|$251,495||1,527||4,500 - 6,500 sqft||3||2||1||8||12||36|