Sat Jun 10 2023
This week the median list price for Rio Rancho, NM is $485,000 with the market action index hovering around 56. This is an increase over last month's market action index of 54. Inventory has decreased to 141.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$485,000|
|Median Price of New Listings||$399,450|
|Per Square Foot||$209|
|Average Days on Market||67|
|Median Days on Market||28|
|Strong Seller's Market|
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$640,000||2,848||0.25 - 0.5 acre||4||4||8||7||5||35|
|$535,000||2,584||0.25 - 0.5 acre||4||3||7||4||3||35|
|$440,000||2,119||6,500 - 8,000 sqft||4||3||3||5||5||28|
|$349,999||1,655||4,500 - 6,500 sqft||3||2||16||14||10||21|