Number of Listings in Rio Rancho drop 30% to compared to last year. Now at 643 compared to 905.
Sales continue to reflect stronger market with 68 sold and 97 new pending's. This trend is due in large part to the opening of the Presbyterian Hospital last month. Also the average price increased to $175,000. up from $168,000 last year.
The number of closed homes in Rio Rancho were at 96, 22 more than last November and the average price was $163,000.
Just Call Judy to get it done. Certified Distressed Properties Expert for counseling on options for distressed homeowners and short sales.
For more information link to my video real estate update at http://realtytimes.com/vnc/JudyPierson or my website at http://www.JudyPierson.com and go to Market Snapshot for sales trends. Feel free to call me (505) 220-9193 for more details or click on my name to email me through my website.
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ZIP Codes: 87124, 87144 Approximate Location Boundaries: North of Albuquerque on the way to Santa Fe; west of I-25.
Location Characteristics: WELCOME TO THE CITY OF THE FUTURE! One of the fastest growing cities in the USA, Rio Rancho is on track for growth. For two years in a row, Rio Rancho was been named one of the best places to live in the States. Both Money magazine and CNN rank it 56 out of 100 best cities to live based in part on real estate appreciations.
The city has built up around Intel and aims to be The City of The Future. Big news in Rio Rancho is that Hewlett-Packard opened a technical support center that will employ 1300 people. Additionally, Intel is building facilities to be it's worldwide high tech production center. Presbyterian Hospital opened the first hospital in the area in 2011. Other medical facilities are coming too. Central NM Community College is moving ahead with plans to build a Rio Rancho campus. The schools are highly rated and draw many to the area. The city has three parts. The south which is the oldest, built in the last 15 years. The middle with a golf course community and new projects to the north. And the north which has homes on larger lots often with septic tanks and wells, but lots are available to build custom homes.
In general, Buyers both in town and out of state are attracted by the buzz about the developments in the city. Rio Rancho officially broke ground for its $16 million City Hall. This city of 75,000 has had no traditional downtown or city center but just strip malls. The new City Hall is near Unser and Paseo del Vulcan. A new stadium opened to rave reviews. These developments have stimulated interest in lots available north and west of the current city center.
Link to my video real estate update at http://realtytimes.com/vnc/JudyPierson.
About Judy Pierson:
As one of the top 25 real estate agents in Greater Albuquerque, my reputation is built on being the expert in our market you need so that you can make a wise real estate decision. Winner of a Coldwell Banker customer service award in 2005, my success is dependent upon being knowledgeable and responsive to my customers. ABQ. is a hidden jewel with a steadily growing market that is still underpriced. Call me or check my website for all you want to know about ABQ, the market and buying or selling here. I specialize in relocations and investment properties.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
