Is Rio Rancho, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Rio Rancho has remained a Seller's Market.
Key Takeaway
Rio Rancho is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rio Rancho, NM
How much do homes in Rio Rancho, NM cost?
Median Sold Price
$352,366
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Rio Rancho have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Rio Rancho was $352,366 in March 2024, up 4.5% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | $142.5K | +11.3% |
| 2 Bedrooms | $225K | $240K | +6.7% |
| 3 Bedrooms | $318.3K | $329.9K | +3.7% |
| 4 Bedrooms | $400K | $420K | +5.0% |
| 5+ Bedrooms | $545.7K | $528K | -3.3% |
Summary: Rio Rancho housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 3.3%.
Median Sold Price Compared To Nearby Cities
| Albuquerque | $314.9K | $335.6K | +6.6% |
| Rio Rancho | $337K | $352.3K | +4.5% |
| Bernalillo | $372.5K | $369K | -0.9% |
| West Bernalillo | $496.3K | $488K | -1.7% |
| Corrales | $725K | $685K | -5.5% |
Housing Supply in Rio Rancho, NM
How many homes are available in Rio Rancho, NM?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 553 | 493 | -10.8% |
Summary: The Rio Rancho real estate market had 493 homes for sale in March 2024, a 10.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 48 | 39 | -18.8% |
| 3 Bedrooms | 274 | 238 | -13.1% |
| 4 Bedrooms | 185 | 178 | -3.8% |
| 5+ Bedrooms | 44 | 37 | -15.9% |
Summary: The Rio Rancho housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 18.8%, 3 bedroom homes decreased by 13.1%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes decreased by 15.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 122 | 137 | +12.3% |
Asking Price vs. Sold Price
61 Homes Were Sold
Under Asking
47 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rio Rancho, you may be able to get a good deal. 44.5% of homes here sold below asking price last month.
Summary: A total of 137 homes were sold or pending in Rio Rancho in March 2024, up by 12.3% month-over-month. Of the 137 sold homes, 45% were sold under asking, 34% were sold at asking, and 21% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 38 Days | -1.8% |
Summary: Homes in Rio Rancho had an average of 38 days on market in Mar 2024, down by 1.8% compared to last year.
Breakdown of Home Sale Times
84 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rio Rancho are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 137 homes were sold in Rio Rancho; 61% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. 
The data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.