Tue May 18 2021
This week the median list price for Rio Rancho, NM is $388,645 with the market action index hovering around 91. This is less than last month's market action index of 92. Inventory has increased to 106.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$388,645|
|Median Price of New Listings||$379,000|
|Per Square Foot||$179|
|Average Days on Market||37|
|Median Days on Market||14|
|Strong Seller's Market|
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. 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, 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|
|$529,749||3,005||0.5 - 1 acre||4||3||13||8||5||38|
|$423,342||2,320||8,000 - 10,000 sqft||3||3||1||9||6||21|
|$349,000||1,967||6,500 - 8,000 sqft||4||3||0||9||4||7|
|$275,000||1,607||6,500 - 8,000 sqft||3||2||16||13||11||7|