The market in the Enchanted Hills area of the Rio Rancho North region has been fairly consistent over the past 15 months, however many of the market indicators have risen sharply over that time. Sold homes have risen over 28% from March 2012 to May 2013, new listings have risen 33% in that time, homes for sale has risen 9.5% and pending sales have risen over 41%. The price per square foot has ranged from a high of $102 down to a low of $77, with price per square foot between $87 and $91 the last three months. The best news is that the average days on market has dropped from a high of 117 days in March 2012 down to only 76 days in May 2013.
The Enchanted Hills neighborhood is a great area for those who commute to Santa Fe and Albuquerque, and soon construction will begin that will expand the US 550/Interstate 25 interchange to make traffic flow more smoothly through the area.
For a more detailed market report, please contact me and I’ll send it right over!
