Tue May 18 2021
This week the median list price for Rio Rancho, NM 87144 is $396,297 with the market action index hovering around 86. This is about the same as last month's market action index of 86. Inventory has increased to 70.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$396,297|
|Median Price of New Listings||$386,195|
|Per Square Foot||$183|
|Average Days on Market||35|
|Median Days on Market||14|
|Strong Seller's Market|
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$539,500||3,012||0.5 - 1 acre||4||3||14||7||3||21|
|$417,840||2,133||8,000 - 10,000 sqft||3||3||0||4||3||42|
|$361,137||1,952||6,500 - 8,000 sqft||4||3||0||5||2||14|
|$291,000||1,713||4,500 - 6,500 sqft||3||3||16||8||6||7|