Is Rio Rancho, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Rio Rancho has remained a Seller's Market.
Housing Prices in Rio Rancho, NM
How much do homes in Rio Rancho, NM cost?
Median Sold Price
$352,183
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Rio Rancho was $352,183 in April 2024, up 3.7% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $140K | +7.7% |
2 Bedrooms | $225K | $243K | +8.0% |
3 Bedrooms | $319.8K | $330K | +3.2% |
4 Bedrooms | $401K | $420K | +4.7% |
5+ Bedrooms | $545K | $526K | -3.5% |
Summary: Rio Rancho housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 3.5%.
Median Sold Price Compared To Nearby Cities
Albuquerque | $316.3K | $335.6K | +6.1% |
Rio Rancho | $339.7K | $352.1K | +3.7% |
Bernalillo | $370K | $371.5K | 0.4% |
Corrales | $707K | $693K | -2.0% |
West Bernalillo | $495K | $472.4K | -4.6% |
Housing Supply in Rio Rancho, NM
How many homes are available in Rio Rancho, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
566 | 524 | -7.4% |
Summary: The Rio Rancho real estate market had 524 homes for sale in April 2024, a 7.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 49 | 50 | +2.0% |
3 Bedrooms | 275 | 247 | -10.2% |
4 Bedrooms | 193 | 177 | -8.3% |
5+ Bedrooms | 48 | 48 | 0.0% |
Summary: The Rio Rancho housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 2%, 3 bedroom homes decreased by 10.2%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
142 | 136 | -4.2% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
46 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Summary: A total of 136 homes were sold or pending in Rio Rancho in April 2024, down by 4.2% month-over-month. Of the 136 sold homes, 38% were sold under asking, 34% were sold at asking, and 28% were sold over asking.
Days on Market for Rio Rancho, NM
How long does it take to sell a home in Rio Rancho, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
27 Days | 37 Days | +36.4% |
Summary: Homes in Rio Rancho had an average of 37 days on market in Apr 2024, up by 36.4% compared to last year.
Breakdown of Home Sale Times
97 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Summary: During April 2024, 136 homes were sold in Rio Rancho; 71% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.