Property values appear to be declining with a drop in sales over the winter. For 2 story homes over 45 years of age between 1,300 and 2,700 sq. ft. there is 7 months of inventory in the village of Rio. Sales range from $25,000 to $105,00 with the upper range being extensively updated homes and 72% were bank owned properties. The average sale price is $47,786 and the median sale price is $41,703. 14% were non distressed sales. The median list price is $50,000 and the average list price is $82,354 with listings ranging from $23,000 to $215,000. The odds of selling your home in the 1st month is 15% if priced competitively.
March 7, 2012