Thu Sep 21 2023
This week the median list price for Rio Rancho, NM is $439,000 with the market action index hovering around 58. This is less than last month's market action index of 59. Inventory has increased to 247.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$439,000|
|Median Price of New Listings||$376,945|
|Per Square Foot||$213|
|Average Days on Market||47|
|Median Days on Market||28|
|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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$599,985||2,646||0.25 - 0.5 acre||4||3||5||8||7||42|
|$469,000||2,199||6,500 - 8,000 sqft||4||3||3||7||10||35|
|$392,672||1,909||4,500 - 6,500 sqft||4||2||1||9||8||21|
|$333,500||1,581||4,500 - 6,500 sqft||3||2||18||20||16||14|