Tue Sep 27 2022
This week the median list price for Rio Rancho, NM 87124 is $399,900 with the market action index hovering around 60. This is less than last month's market action index of 66. Inventory has held steady at or around 99.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$399,900|
|Median Price of New Listings||$380,995|
|Per Square Foot||$187|
|Average Days on Market||46|
|Median Days on Market||35|
|Strong Seller's Market|
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$624,950||3,371||0.5 - 1 acre||4||3||6||3||0||59|
|$455,000||2,305||8,000 - 10,000 sqft||4||3||15||5||1||35|
|$375,000||2,027||0.25 - 0.5 acre||3||2||25||3||3||35|
|$299,000||1,552||0.25 - 0.5 acre||3||2||36||7||8||21|