Wed Sep 22 2021
This week the median list price for Rio Rancho, NM is $421,990 with the market action index hovering around 78. This is less than last month's market action index of 80. Inventory has decreased to 137.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$421,990|
|Median Price of New Listings||$332,710|
|Per Square Foot||$193|
|Average Days on Market||46|
|Median Days on Market||28|
|Strong Seller's Market|
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$528,830||2,873||0.5 - 1 acre||4||3||1||4||5||52|
|$446,403||2,133||0.25 - 0.5 acre||3||3||0||8||4||31|
|$389,319||2,012||4,500 - 6,500 sqft||3||3||0||5||10||31|
|$285,000||1,610||4,500 - 6,500 sqft||3||2||17||24||23||0|