Real-Time Real Estate Market Report
Rio Rancho, NM 87124
Single-Family Homes
Have the Market Insight Before You Buy or Sell
Rio Rancho, NM 87124
Fri Jul 26 2024
This week the median list price for Rio Rancho, NM 87124 is $474,995 with the market action index hovering around 52. This is an increase over last month's market action index of 51. Inventory has increased to 91.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. 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 persistently, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $474,995 | |
| Median Price of New Listings | $385,000 | |
| Per Square Foot | $218 | |
| Average Days on Market | 55 | |
| Median Days on Market | 35 | |
| Price Decreased | 38% | |
| Price Increased | 13% | |
| Relisted | 4% | |
| Inventory | 91 | |
| Median Rent | ||
| Market Action | 52 | |
| Strong Seller's Market | ||
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. 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 persistently, prices are likely to resume an upward climb.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $627,400 | 3,145 | 0.25 - 0.5 acre | 4 | 4 | 2 | 4 | 2 | 59 |
| $515,000 | 2,294 | 6,500 - 8,000 sqft | 3 | 3 | 1 | 1 | 3 | 63 |
| $425,000 | 2,008 | 6,500 - 8,000 sqft | 3 | 2 | 16 | 5 | 7 | 35 |
| $300,000 | 1,453 | 8,000 - 10,000 sqft | 3 | 2 | 40 | 7 | 7 | 7 |