Rio Rancho Market Stats January 2015
Rio Rancho Market Stats January 2015
2014 was a difficult year for the housing market in Rio Rancho. Most months saw lousy comparisons to 2013 as home sales and home prices declined. It would be nice to see the market rebound in 2015. However, Intel is a major employer in Rio Rancho and has been reducing it's workforce for some time.
The average sales price of Rio Rancho homes declined by 7.39% to $167,995 in January 2015 compared to $181,393 January 2014.
The median sales price of Rio Rancho homes increased by .45% to $163,250 in January 2015 compared to $162,518 in January 2014.
The number of new
listings of Rio Rancho homes for sale increased by 12.41% to 241 in January 2015 compared to 214 in January 2014.
The total inventory of homes for sale in Rio Rancho increased by 4.72% to 665 in January 2015 compared to 635 in January 2014.
The number of days on market to sell a home in Rio Rancho increased by 8.96% to 73 in January 2015 compared to 67 in January 2014.
The number of homes sold in the Rio Rancho housing increased by 8% in January 2015 compared to January 2014.
The number of homes pended in the Rio Rancho housing increased by 10.96% in January 2015 compared to January 2014. 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.
The Rio Rancho market struggled throughout 2014 compared to 2013. Rio Rancho may see an increase in sales and home prices in 2015 compared to 2014. Not because the 2015 market is going to be great, because the comparisons in 2014 are fairly weak.
Finding the right property and purchasing at the right price is the key to any successful real estate transaction. One good place to start is to search foreclosed homes. Not all foreclosures are a good investment. However, foreclosed homes is a good place to start your search. Click here to search for foreclosed homes in Albuquerque NM.
All data is provided by the Greater Association of Albuquerque Realtors January 2015 market statistics.
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