Here’s my monthly real estate report for Enchanted Hills. Enchanted Hills is a subdivision of newer homes in Rio Rancho NM.
Enchanted Hills October Home Sales
There were 8 closed sales in Enchanted Hills during October. Only 1 of the sales was a regular sale, the other 7 were distressed property sales.
Here are the stats on the 8 homes that sold:
Average Square Footage: 2016
Price per Square Foot: $76
Days on the Market: 69
Median Sales Price: $141,000
Distressed properties made up a whopping 88% of the sales activity in Enchanted Hills.
Enchanted Hills Homes for Sale
Currently there are 74 homes for sale in Enchanted Hills. 38 are regular sales, 32 are short sales and 4 are bank owned homes.
The high number of short sale homes available is indicative of the general market conditions in Rio Rancho. In fact, 32% of all October closed sales in Rio Rancho were distressed property sales. At 88% the percentage of distressed properties in Enchanted hills was even higher.