Mon Sep 21 2020
This week the median list price for Rio Rancho, NM 87144 is $326,872 with the market action index hovering around 54. This is about the same as last month's market action index of 54. Inventory has held steady at or around 136.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$326,872|
|Per Square Foot||$154|
|Days on Market||52|
|Strong Seller's Market|
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$458,600||2,980||0.5 - 1 acre||4||3||13||2||5||70|
|$353,500||2,278||6,500 - 8,000 sqft||4||3||1||1||4||61|
|$300,000||1,958||6,500 - 8,000 sqft||3||2||4||10||10||52|
|$250,107||1,576||4,500 - 6,500 sqft||3||2||8||8||9||22|