Rio Rancho Real Estate Market Update - Detached Homes, November 2011

Rio Rancho Real Estate Market Update - Detached Homes, November 2011

Below you will find six of the most important market statistics for Detached Homes in Rancho, New Mexico. As we compare today’s real estate market to those of six months ago, there has been a decrease in the average price of 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 18% decrease in the amount of homes available for sale. The expected result is a increase in price which maybe reflected in the List Price...however, the Average Price of Sold Homes decreased approximately 7% from $177,670 six months ago to $165,864 in the month of November.

So what does it look like no

The average days on the market for last month:	92
New property listings last month:	154
Total active properties for sale for the month of November:	624
Total number of properties under contract in the last month:	121
Total number of properties sold/closed in the last month:	95
Total number of expired listings last month:	41

Where were we six months ago?

The average days on the market for last month:	97
New property listings last month:	217
Total active properties for sale for the month of June:	758
Total number of properties under contract in the last month:	170
Total number of properties sold/closed in the last month:	115
Total number of expired listings last month:	53