About Albuquerque's Richland Hills

Richland Hills is a popular neighborhood located in Northwest Albuquerque at the intersection of Paseo del Norte and Golf Course Blvds.

The majority of the homes in Richland Hills were built in the 1990's by popular builder Sivage Thomas. The homes feature elegant floorplans with vaulted ceilings and lots of windows to let in natural light.

Sivage Thomas was a popular builder in Albuquerque until 2003, when they were bought by Pulte Homes.

Here are the Richland Hills home sales stats for 2010:

It's pretty clear that the Richland Hills homes that did not sell were overpriced. If you need to sell your Richland Hills home, consult with a Realtor who knows the stats.

Request a home valuation/market analysis of your Richland Hills home.

Here is a summary of Richland Hills, NM Real Estate over the last 10 years. Richland Hills Subdivision is located in Northwest Albuquerque.



Here is a graph that respresents the number of homes sold in Richland Hills from 1999 to 2009.
As you can see, the number of homes sold peaked in 2002. Home sales have been in decline since 2005 and are at a level that matches the number of sales in 2000.



I have tracked average days on the market (DOM) using total cumulative days from the initial listing to when the house is put into pending status. In 2005 homes were flying off the market, the average DOM was a mere 15 days. This year the DOM is 131.



The average sales price has declined 13% since it's peak on 2006. Average sales price has declined 2% over the last year.

Summary

Although the number of sales has declined considerably (38%) since the 2005/2006 peak, average sales price has only declined 13%.

There have been no short sales, foreclosures or bank owned properties (REO's). The Richland Hills Real Estate Market remains relatively strong.

There has not been much activity since my last report. There were two houses for sale in the neighborhood, one has just changed to "pending" status and another has expired.

Updated October 29, 2009

Active Listings

There are currently no active listings.

Pending Sales

8720 Silvercrest NW

Original List Price: $359,900

Reduced to: $319,900

Square Footage: 3012

Original Price per Square Foot: $119

Final Price per square foot: $106

Beds: 4 Baths: 3.5 Garage: 3

Days on the Market: 193

Listing Provided by Coldwell Banker Legacy

Expired Listings

4201 Beacon Knoll NW

List Price: $285,000

Price per Square Foot: $130

Reduced Price: $274,900

Price per Square Foot:$126

Square Footage: 2191

Beds: 3 Baths: 2.5 Garage: 3

Days on the Market: 489

I hope you have found the information in this report helpful. Please check back at Localism or www.NWAbq.com for updates. In the meantime, please call 750-1846 or e-mail me at Rich.Cederberg@TopProducer.com if you have any questions about this awesome neighborhood.

Click here for last month's report

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Description

Northwest Albuquerque's Richland Hills Subdivision is a beautifully manicured neighborhood of almost all brick homes. The homes are larger and many have lush midwestern-like landscaping. Although the neighborhood is approximately 15 years old, but it is aging well with most homes being in very good condition.

Builders

Richland Hills was developed by Sivage Thomas in the mid to late 1990's. Sivage Thomas enjoys a good reputation and is one of the more popular builders on Albuquerque's Westside. There are a nice variety of floor plans and elevations in the neighborhood. Many buyers say that Sivage Thomas homes have an elegant feel.

Schools

Most of the children of Richland Hills attend Petroglyph Elementary, James Monroe Middle School or Cibola High School. Central New Mexico Community College is also located 4.4 miles away.

Parks

Richland Hills Park is located on Richland Hills Road in the middle of the neighborhood. The large park has play equipment, benches, a covered picnic area, a large grassy area for pets or room to throw a football around.

What's Nearby?

There's plenty of shopping within walking distance (within a approximately a half mile):

• Smiths Grocery Store (.65 miles)
• WalMart Neighborhood Market (.21 miles)
• Walgreens (.3 miles)
• First Community Bank
• Wells Fargo Bank (inside Smith's)
• Ace Hardware
• UPS Store
• Starbucks
• Curves
• Chiropractor
• 2 Gas Stations
• Post Office
• After Hours Pediatric
• Peter Piper Pizza
• 2 Chinese Restaurants
• Canine Country Club

There's is other shopping that's a quick drive away:

• Cottonwood Mall
• Target
• Walmart
• Chow's Asian Bistro
• Red Robin
• Red Lobster
• Olive Garden
  

And soon there will be two hospitals:

• Lovelace Westside Hospital
• The new Rio Rancho Presbyterian Hospital
  

Homeowners Association?

There is a mandatory homeowners association in Richland Hills, but the annual fees are low, approximately $15.

Crime

The neighborhood as served by Albuquerque Police Department's Northwest Area Command.

• Check Crime Stats
• Check Sex Offenders

View NW Albuquerque Homes for Sale from $150,000 to $175,000

View NW Albuquerque Homes for Sale from $175,000 to $200,000

Other nearby Neighborhoods

Northwest Albuquerque Real Estate Reports

Here is my latest Richland Hills Real Estate Report. Richland Hills subdivision was developed by Sivage Thomas in the mid 1990's. The homes are larger, mostly brick, and many have lush midwestern-like landscaping. Although the neighborhood is approximately 15 years old, but it is aging well with most homes being in very good condition with nicely maintained landscaping.

Richland Hills is located very near Paseo del Norte for an easy commute to Kirtland AFB, downtown Albuquerque and Intel in Rio Rancho and is located near local businesses, restaurants and shopping. Everyone should consider buying in Richland Hills, especially if they are relocating to Albuquerque from the midwest.

There has not been much activity since my last report. There have been only two closed sales and there are currently only two houses for sale in the neighborhood.

Updated September 9, 2009

Active Listings

Address: 4201 Beacon Knoll NW

List Price: $274,900

Square Footage: 2190

Price per Square Foot: $126

Beds: 3 Baths: 2.5 Garage: 3

Days on the Market: 464

Listing provided by AllStar Realty

Address: 8720 Silvercrest NW

List Price: $329,000

Square Footage: 3012

Price per Square Foot: $109

Beds: 4 Baths: 3.5 Garage: 3

Days on the Market: 145

Listing Provided by Coldwell Banker Legacy

There are no properties currently in "Pending" Status

Closed Sales since May 25, 2009

Address: 4300 Ridgemont NW

List Price: $250,000/Sales Price: $225,000

Square Footage: 2057

Price per Square Foot: $109

Beds: 3 Baths: 2 Garage: 3

Days on the Market: 81

Sale Date: 09/08/09

Listing Provided by Coldwell Banker Legacy

Address: 8705 Westridge NW

List Price: $259,900/Sales Price: $250,000

Square Footgae: 2190

Price per Sqaure Foot: $114

Beds: 3 Bath: 2.5 Garage: 3

Days on the Market: 310

Sale Date: 08/25/09

Listing Provided by RE/MAX Elite

I hope you have found the information in this report helpful. Please check back at www.Localism.com or www.NWAbq.com for updates. In the meantime, please call 400-5994 or e-mail me at Rich.Cederberg@TopProducer.com if you have any questions about this awesome neighborhood.

Click here for last month's report

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