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.
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.