Sun Aug 01 2021
This week the median list price for Rio Rancho, NM 87124 is $417,000 with the market action index hovering around 88. This is less than last month's market action index of 90. Inventory has increased to 44.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$417,000|
|Median Price of New Listings||$342,500|
|Per Square Foot||$178|
|Average Days on Market||26|
|Median Days on Market||7|
|Strong Seller's Market|
While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$522,000||2,873||0.5 - 1 acre||4||3||1||3||1||35|
|$450,000||2,374||0.25 - 0.5 acre||3||3||1||5||2||7|
|$350,000||2,306||8,000 - 10,000 sqft||3||3||16||7||8||0|
|$249,900||1,504||8,000 - 10,000 sqft||3||2||37||7||7||0|