About Rio Rancho's Enchanted Hills

Here's my monthly real estate report for Enchanted Hills. Enchanted Hills is a subdivision of newer homes in Rio Rancho NM.

Enchanted Hills September Home Sales

There were 8 closed sales in Enchanted Hills during September. 4 of the sales were regular sales, the other 4 were distressed property sales.

Here are the stats on the 8 homes that sold:

Sq Feet	Beds	Baths	Sales Price	DOM	$ Per Sq	Type
2766	5	2.5	121,000	115	44	REO
1384	3	1.5	126,000	7	91	REO
1659	3	2.0	132,155	13	80	HUD
1550	3	2.0	150,000	68	97	Regular
2423	3	2.0	190,000	26	78	REO
2859	4	2.0	240,000	99	84	Regular
2376	4	2.0	258,500	407	109	Regular
3022	4	3.0	2752,500	473	90	Regular

DOM=Days on the market
$ Per Sq=Price per square foot
Type=REO (Real Estate Owned or bank owned)

Enchanted Hills Homes for Sale

Currently there are 72 homes for sale in Enchanted Hills. 39 are regular sales, 29 are short sales and 4 are bank owned homes.

The high number of short sale homes available is indicative of the general market conditions in Rio Rancho. In fact, 44% of all September closed sales in Rio Rancho were distressed property sales. If you want to get a good deal on a home in Enchanted Hills, you'll most likely need to buy one of these homes.

Search for short sale property in Rio Rancho or foreclosed houses for sale in Rio Rancho today!

Here's my November 2009 Enchanted Hills Real Estate Report.


There are currently 72 homes for sale in Enchanted Hills.

51 of the available homes are regular sales.

Average list price: $230,884
Average Square Footage: 2185
Average price per square: $109

17 of the available homes are short sales, and 4 are bank owned properties.


13 homes closed in November 2009.

11 were regular sales.

Average list price: 205,646
Average Square Footage: 2241
Average price per square: $94

1 short sale and 1 bank owned property.

Days on the Market in Enchanted Hills

Average DOM: 86
Quickest Sale: 5 days
Slowest Sale: 468 days


Enchanted hills is located in Northern Rio Rancho near the intersection of 528 and 550.

View Enchanted Hills in a larger map

This information should not be used to determine the price of a house.

The price per square foot of a home will vary depending upon how large or how small the home is, the condition and the upgrades inside the home.

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Enchanted Hills is located in northern Rio Rancho. The neighborhood is west of NM 528 and south of US 550.

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Let's start with a look at the overall market in the area over the last 30 days.

As you can see from the graphic to the left the number of closed sales over the last 30 days was very low. 6 to be exact.

However, the number of pending sales is quite high. This suggest two possible things. First that the market is picking up, or second, that there are a lot of short sales in pending status that are not making it to closing.

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A closer look at the curent pending sales shows that most of the transactions are regular homes, and that short sales and REO's (bank owner properties) make up only a small percentage of the pending sales.

This indicate a reasonaly healthy market without much forclosure activity.

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Short sale and REO's make up only a small percentage of the homes currently for sale.

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There were not many closed sales over the last 30 days in Enchanted Hills.

However, the transactions that did close were mostly regular sales, with a slightly higher percentage of short sales but with no REO sales.

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Although the number of closed sale seemed low in September, it was an increase over the last two years.

The peak of sales was in September of 2006.

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The average sales price continues to decline.

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Average days on the market has continued to increase significantly.

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Average Sales Price/List Price Ratio continues to decline.

This means the average amount that sellers are negotiating off of price is 4%.

It's crucial to understand market conditions when you are planning to buy or sell. You should work with a Realtor who understand and can help you interpret these numbers.

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