Cabezon is a popular master planned community in Rio Rancho NM. Located in southern Rio Rancho near the Rio Rancho/Albuquerque border, Cabezon is a large neighborhood built of many smaller subdivisions which feature a nice mixture of home styles. You can find everything there from townhomes to custom homes on larger lots with RV garages and everything in between.
November Home Sales
There were 14 closed home sales in November, ranging in price from $104,000 to $380,255. The median sales price was $225,920.
Here are the stats on the 14 home sales that closed in November 2013, compared to November 2012.
|Average square footage||2,335||2,394|
|Average price per square foot||$101||$93|
|Average days on the market||81||39|
|Average Sales Price||$225,920||$219,343|
As you can see, all indicators are positive (average square footage was essentially the same)!
Short Sales and Foreclosures
Short sales and foreclosure sales still make up a considerable portion of the real estate market in Cabezon. Over the last three months, 31% of the closed real estate sales were short sales or foreclosure (bank owned) homes. What’s the difference between a short sale and foreclosure?
If you are considering selling your Cabezon home, you’ll need to keep in mind that short sales and foreclosures are impacting house values and that you will be competing against them, even if you are not underwater on your home.
Fair Market Sales
The good news is that 69% of the sales during that same time period were fair market or equity sales. The sales price was higher for these homes, averaging $108 per square foot. The average size home was 2,155 square feet and sold for $225,896. Average market time was 51 days. If we look at November sales only, the picutre gets even better. Average sales price was $258,610 or $114 per square foot.
Homes for Sale
Are you thinking about buying a house in Rio Rancho? Then you should consider Cabezon. The homes are newer and slightly more expensive than the older homes in Rio Rancho, but newer houses are considerably more energy efficient and you will save on your utility bills every month.
Today there are 92 homes for sale in Cabezon. 78 are regular sales, 10 are short sales and only 4 are foreclosure homes. That means about 15% of the properties on the market right now are distressed properties.
Thanks for reading, and remember to check back soon for another update.
Call or Text me, Rich Cederberg, at (505) 803-5012, if you need expert real estate advice.
These statistics were compiled from the Greater Albuquerque Association of REALTORS®data on 12/08/2013. This data is reflective of homes which were listed on the Albuquerque MLS; private sales are not included.