Enchanted Hills Market Report February 2015

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Enchanted Hills is primed for a good year in real estate in 2015.  The year of 2014 showed mostly small gains in the market for one story homes, but sold prices did edge slightly higher on average.  That means property values for owners of one story homes was a little bit higher.  The last six months has shown that one story homes have sold within three months at a little over $88 per square foot on average, with pending homes (under contract, not yet closed) around the same price per square foot.

 

The market for two story homes in Enchanted Hills picked up in many categories from 2013 to 2014.  Two story homes sold 16 days quicker on average and sold for over $2 more per square foot in 2014 ($78.98 compared to $76.61) versus 2013.  Within the most recent six months, the price per square foot has averaged even higher at over $81 per square foot.  Two stories have sold for over 99% of listing price, which is higher than most areas.

 

In my opinion, due to many factors, the overall Rio Rancho market and the Enchanted Hills market in particular, should be in for a strong spring into summer.  FHA has made it easier for buyers to afford home payments and interest rates continue to be low, which should equate to more buyers in the market.  If you need a more detailed price estimate for your home, you can email me at paul@bluedoorhomes.net.