Rio Rancho Housing Market Statistics June 2015

Rio Rancho Housing Market is Shifting

The Rio Rancho housing market is finally catching up to the rest of the southwest.  Sellers do not dominate the market but they are taking control of the housing market.  There used to be a ton of foreclosed homes and short sales in the Rio Rancho market.  There are still some good deals to find for investors, you have to work a lot harder to find the deals.  The banks are not as willing to negotiate like the recent past.

The number of foreclosed homes in Rio Rancho NM is declining along with the general decline in inventory.

It is going to take more creativity to find the great deals  Good luck and good investing!

Rio Rancho Housing Market Home Pricing June 2015

Rio Rancho real estate market experienced a decrease in the average sales price of homes in Rio Rancho by 7.67% to $192,051 in June 2015 compared to $178,375 in June 2014. The average sales price of Rio Rancho homes in May 2015 was $182,370.

Rio Rancho housing market experienced an increase in median sales price of Rio Rancho homes by 8.68% to $173,000 in June 2015 compared to $159,181 in June 2014. The median sales price of Rio Rancho homes in May 2015 was $161,632.

Rio Rancho Housing Market Homes Sales June 2015

Rio Rancho housing market experienced an increase in the number of Rio Rancho New Mexico homes sold by 15.75% to 169 homes in June 2015 compared to 146 homes in June 2014. The number of Rio Rancho homes sold in May 2015 was 170.

Rio Rancho housing market experienced an increase in the number of Rio Rancho New Mexico homes pended by 30.25% to 223 in June 2015 compared to 166 homes in June 2014. The number of Rio Rancho homes pended in May 2015 was 211. Pended homes is defined as the buyer and seller have agreed to terms on the sale of the home. However, the transaction is not complete and is an indicator to future home sales in Rio Rancho.

Rio Rancho Housing Market Home Inventory June 2015

Rio Rancho housing market experienced a decrease in the total inventory of homes for sale in Rio Rancho by 19.01% to 656 in June 2015 compared to 810 in June 2014. The inventory of Rio Rancho homes for sale in May 2015 was 685.

Rio Rancho housing market experienced a decrease in the number of new listings of Rio Rancho NM homes for sale by 11.93% to 251 in June 2015 compared to 285 in June 2014. The number of new listings of Rio Rancho homes for sale in May 2015 was 278.

Rio Rancho housing market experienced a decrease in the number of days on market to sell a home in Rio Rancho by 6.78% to 55 days in June 2015 compared to 59 days in June 2014. The number of days on the market in Rio Rancho in May 2015 was 58.

All data is provided by the Greater Association of Albuquerque Realtors June 2015 market statistics.