Rio Rancho Real Estate Market Update

August 2011

Below you will find six of the most important market statistics for Detached Homes in Rio Rancho, New Mexico.  As we compare today’s real estate market to those of six months ago, a marked increase in the averag priceof homes.  By understanding today’s real estate market, we will be prepared to price your home appropriately to sell for the highest possible price in the shortest amount of time.

The data indicates that more homes are entering the market than are being sold, so we are in a still in a "buyers market." There has been a 3.5% decrease in the amount of homes available for sale. The expected result is a increase in price...Average Price of Sold Homes increased appoximaely 0.6% from $177,000 six months ago to $178,000 in the month of August.  


So what does it look like now?

·         The average days on the market for last  month:                                 88

·         New property listings last month:                                                      221

·         Total active properties for sale for the month of August:                     745

·         Total number of properties under contract in the last month:              104

·         Total number of properties sold/closed in the last month:                   113
           

·         Total number of expired listings last month:                                        33


Where were we six months ago?

·         The average days on the market for our area last month:                     90

·         New property listings last month:                                                     193

·         Total active properties for sale for the month of March:                     772

·         Total number of properties under contract in the last month:              465

·         Total number of properties sold/closed in the last month:                   123
           

          Total number of expired listings last month:                                        48

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C. Lloyd McKenzie, MBA

7001 Prospect Place NE Suite 200
Albuquerque NM 87110

Phone: (505)750-8552
Email: Info@LloydMcKenzie.com

 
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Areas Served: Albuquerque Metro/ Algodones/ Bernalillo/ Cedar Crest/ Corrales/ Edgewood/ Los Lunas/ Los Ranchos de Albuquerque/ Placitas/ Rio Rancho/ Sandia Park/ Tijeras

 
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3 Comments on Rio Rancho Real Estate Market Update - August 2011

SEP
30
2011
538,118 Points 6 Featured Posts Outside Blog Called Shot Master

Good Morning C Lloyd, very interesting input on the market in Rio Rancho.  It is always interesting to review market reports from other areas, they provide a better picture of the overall market.
5:40am • #1
OCT
02
2011
355,728 Points 19 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

C Lloyd, Is Rio Rancho one of the most desireable areas of your county?
10:23pm • #2
492,317 Points 10 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Good Evening Gentlemen:

I appreciate your commenting on on my post. 

Wayne, Rio Rancho, Sandoval County, NM is the Home of Intel and Hewlett-Packard.  It is a very desirable area.  The schools, from K -12 are very well regarded. Homes there are more affordable than those in Albuquerque, Bernalillo Counym NM.  Rio Rancho was considered one of the fastest growing cities in the US back in 2005-2006.   

11:13pm • #3

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C. Lloyd McKenzie, MBA - ALLSTAR REALTY -- Your Home Sold in 59 Days or Less...

Albuquerque, NM

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Empowering Buyers & Sellers in Albuquerque and Rio Rancho NM

Address: 7001 Prospect Place NE Suite 200, Albuquerque, NM, 87110

Office Phone: (505) 888-1700

Cell Phone: (505) 750-8552

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Albuquerque and Rio Rancho, New Mexico are among the most stable real estate markets in the United States. This has caught the attention of the national media. As such, it is incumbent on local Realtors to provide information about our cities for those interested in investing, relocating, or visiting. My goal with this blog is to highlight issues or topics in real estate, and where appropriate apply them to the local markets.


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