The prices in real estate in Rio Rancho, in the New Mexico region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Rio Rancho has increased strongly during the last 6 months. In December, the average price per sq.feet was $128. In the following month the price per sq.feet increased to $135. The price for the following two months in (February, March) had a considerable increment of 252 %. The price per sq.feet has had a considerable increase of 186 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $231.25 to $430.5 during April, and May.
Based upon to the price in Rio Rancho (cities), this has fallen considerably in the last 6 months. The price in December is $250,470, rising in January till $279,842. During the following two months (February, March) the average price had a considerable reduction of 73 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $229,931 to $180,476.5, which means a 78 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $207,147 they are 51 % more affordable than the average price for Rio Rancho. The properties with the highest average price have 4 bedrooms, Their price is 61 % more costly than the average. After that we have properties with 3 bedrooms priced at $252,536.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $85 / sq.feet, with an average $369 / sq.feet price in Rio Rancho. The properties with the lowest average prices have 4 bedrooms. They are 23 % cheaper than the average followed by properties with 1 bedroom with a price at $118 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of $207,147 it is 20 % more expensive than the average price in Rio Rancho. "Office" is seen as the second dearest property type. The dearest property type is "Duplex" followed by "Commercial". At a price of $287,033 it is 47 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of $99 / sq.feet followed by "Duplex" priced at $100 / sq.feet. "House" is the most costly type of property with a $519 / sq.feet cost followed by "Apartment" with an average price of $120 / sq.feet.