Cabezon Real Estate Report: 2013 in Review

2013 was a good real for home sale in Cabezon, Rio Rancho’s popular master planned community.

Cabezon Real Estate Stats

The chart below shows home sales data over the last two years, broken into 6 month segments.

01/01/12 thru 06/30/12 07/01/12 thru 12/31/12 01/01/13 thru 06/30/13 07/01/13 thru 12/31/13
Total Home Sales 63 87 101 115
Low Sale $135,000 $111,690 $110,000 $105,000
High Sale $387,000 $364,000 $355,000 $380,255
Average Sales Price $220,437 $219,408 $219,519 $225,007
Average Square Feet 2,278 2,360 2,350 2,271
Average Price Per Square Foot $98 $95 $95 $101
Average Days on Market 76 58 65 62
% Distressed 29 35 36 21

Five Positive Signs for Cabezon Real Estate Market

  • Total home sales were up dramatically
  • Average sales price is moving in the right direction
  • Average price per square foot on the increase
  • Days on market remain relatively low
  • Distressed sales (short sales and foreclosures) are down

Absorption Rate

Understanding the balance between Sun Mosaic in Cabezonthe number of home buyers and the number of homes on the market is crucial to understanding the pulse of the real estate market in a neighborhood. A surplus of home buyers looking to purchase with a a shortage of homes increases demand and makes for a very competitive market. That’s called a seller’s market. Too few buyers and too many homes available makes for a buyer’s market.

So what’s the current balance between buyers and home inventory right now? Over the last month, there have been 21 closed sales, and currently there are 83 homes for sale. At that rate, it would take less than four months to sell the existing inventory (assuming no new homes were placed on the market). Less than four months of inventory makes it a seller’s market in Cabezon (6 months is a balanced market).

Market conditions can change from month to month. If interest rates increase dramatically and buyers drop out of the market, home inventory can build fast. The same thing is true if home owners decide it’s a good time to sell and they flood the market with home listings.

View Cabezon Homes for Sale in Rio Rancho NM.

The Best Points of Living in Cabezon

Here’s a short list of things that residents of Cabezon appreciate:

  • Newer homes built by a wide variety of popular builders
  • Wide variety of neighborhoods – gated neighborhoods, townhome neighborhoods, brick homes
  • Rio Rancho schools
  • Fun things to do and places to eat nearby – Rio Rancho Aquatic Center, Premier Cinema, Five Guys, Chili’s, etc
  • Close to grocery stores, Starbucks and Cottonwood Mall

Where is Cabezon Located?

Cabezon is located in southern Rio Rancho between Unser and Golf Course Blvd.


View Cabezon Homes in Rio Rancho in a larger map

Albuquerque Homes for Sale

by Albuquerque Real Estate Agent Rich Cederberg. Please call or text me at (505) 803-5012

These Albuquerque real estate statistics were compiled from the Greater Albuquerque Association of REALTORS®data on 01/03/2014. This data is reflective of homes which were listed on the Albuquerque MLS; private sales are not included.

If you appreciate the tie and effort it took to create this article, then please give me a vote of confidence by hitting the like button, the +1 button or by tweeting this article! Thank you.

If you enjoyed this article, Get email updates (It’s Free)

Comments

  1. Sounds like the market is improving for the Cabezone Home sales. Good for everyone involved. Great report Rich!!
    Janis Borgueta recently posted..What to Expect at Your Home Inspection – Selling Your HomeMy Profile

Speak Your Mind

*

CommentLuv badge

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