The prices in real estate in Rio Rancho, in the New Mexico region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Rio Rancho has had a strong decrease during the last 6 months. In September, the average price per sq.feet was $121. In the following month the price per sq.feet decreased considerably to . The price for the following two months in (November, December) had a considerable increment of 205 %. The price per sq.feet has had a considerable increase of 141 % 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 $92.25 to $130.5 during January, and February.
Based upon to the price in Rio Rancho (cities), this has fallen considerably in the last 6 months. The average price for September is $272,910. During October the price had a considerable reduction till . During the following two months (November, December) the average price had a considerable increase of 199 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 142 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $299,492 they are 63 % more affordable than the average price for Rio Rancho. The properties with the highest average price have 4 bedrooms, Their price is 11 % more costly than the average. After that we have properties with 1 bedroom priced at $327,886.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $114 / sq.feet, with an average $130 / sq.feet price in Rio Rancho. The properties with the highest average prices have 1 bedroom. They are 7 % more expensive than the average followed by properties with 3 bedrooms with a price at $135 / sq.feet.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of $299,492 it is 6 % cheaper than the average price in Rio Rancho. "Office" is seen as the second most affordable property type. The dearest property type is "House" followed by "Duplex". At a price of $308,156 it is 10 % 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 $114 / sq.feet followed by "Duplex" priced at $115 / sq.feet. "House" is the most costly type of property with a $140 / sq.feet cost followed by "Farm" with an average price of $130 / sq.feet.