Is Rio Rancho, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$353,538
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rio Rancho have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Rio Rancho was $353,538 in May 2024, up 3.9% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $140K | +3.7% |
| 2 Bedrooms | $225K | $245K | +8.9% |
| 3 Bedrooms | $320K | $331.5K | +3.6% |
| 4 Bedrooms | $403.3K | $420K | +4.1% |
| 5+ Bedrooms | $545.7K | $525K | -3.8% |
Summary: Rio Rancho housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 3.8%.
Median Sold Price Compared To Nearby Cities
| Albuquerque | $317.1K | $339.5K | +7.0% |
| Corrales | $682.5K | $718.5K | +5.3% |
| Bernalillo | $364.9K | $380K | +4.1% |
| Rio Rancho | $340.1K | $353.5K | +3.9% |
| West Bernalillo | $488.9K | $472.4K | -3.4% |
Housing Supply in Rio Rancho, NM
How many homes are available in Rio Rancho, NM?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 619 | 569 | -8.1% |
Summary: The Rio Rancho real estate market had 569 homes for sale in May 2024, a 8.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 59 | 47 | -20.3% |
| 3 Bedrooms | 312 | 274 | -12.2% |
| 4 Bedrooms | 191 | 191 | 0.0% |
| 5+ Bedrooms | 55 | 54 | -1.8% |
Summary: The Rio Rancho housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 20.3%, 3 bedroom homes decreased by 12.2%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 1.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 144 | 151 | +4.9% |
Asking Price vs. Sold Price
58 Homes Were Sold
Under Asking
58 Homes Were Sold
At Asking
35 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. 38.4% of homes here sold below asking price last month.
Summary: A total of 151 homes were sold or pending in Rio Rancho in May 2024, up by 4.9% month-over-month. Of the 151 sold homes, 38% were sold under asking, 38% were sold at asking, and 23% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 32 Days | +4.0% |
Summary: Homes in Rio Rancho had an average of 32 days on market in May 2024, up by 4% compared to last year.
Breakdown of Home Sale Times
108 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
17 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 May 2024, 151 homes were sold in Rio Rancho; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 11% 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.