Northern Meadows Real Estate Report for October 2011

Here’s my monthly real estate report for Northern Meadows in Rio Rancho. Northern Meadows is a subdivision of newer homes in Rio Rancho NM.

See Northern Meadows Homes for Sale

Northern Meadows October Home Sales

There were 6 closed sales in Northern Meadows during October. 5 of the sales were regular sales, the other was a HUD home sale.

Here are the stats on the 6 homes that sold:

Average Square Footage:           2109

Price per Square Foot:                 $85

Days on the Market:                     120

Average Sales Price:             $174,983

Northern Meadows Homes for Sale

Currently there are 73 homes for sale in Northern Meadows. 42 are regular sales, 26 are short sales and 5 are bank owned homes.

The high number of short sale homes available is indicative of the general market conditions in Rio Rancho. In October, 32% of all closed sales in Rio Rancho were distressed property sales. If you want to get the best possible deal on a home in Northern Meadows, you’ll most likely need to buy one of these homes.

Search for short sale property in Rio Rancho or foreclosed houses for sale in Rio Rancho today!

All content by Albuquerque Real Estate Agent Rich Cederberg, 505.803.5012, unless otherwise noted. eXp Realty, (505) 750-1846.