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.
Cabezon Home Sales
There were 10 closed home sales in November, ranging in price from $148,000 to $314,000. This is the lowest number of sales over the last 6 months, but it’s not unusual to see a decline in sales this time of the year as we approach the Holidays.
Here are the stats on the 10 home sales that closed in November.
|Average square footage||2,393|
|Average price per square foot||$89|
|Average days on the market||43|
|Average Sales Price||$208,600|
|Median Sales Price||$195,000|
As you can see, homes in the area selling quickly but sales prices are still down. One of the reasons for this is the number of distressed properties (short sales and foreclosures) on the market.
Short Sales and Foreclosures
Short sales and foreclosure sales still make up a considerable portion of the real estate market in Cabezon. During November, 40% of the closed real estate sales were either short sales or foreclosure (bank owned) homes. What’s the difference between short sales 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.
Never sold a home before? Watch this one minute video the explains more about the costs of selling a home:
Cabezon Real Estate 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 76 homes for sale in Cabezon. 59 are regular sales, the remaining 17 are short sales or foreclosure homes. That’s means about 22% of the properties on the market right now are distressed properties.
Thanks for reading, and remember, Cabezon real estate is selling fast, don’t miss your opportunity to buy before prices start heading back up!
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 12/06/2012. This data is reflective of homes which were listed on the Albuquerque MLS; private sales are not included.