How is the Las Cruces market? Great and Getting Better!

By
Real Estate Agent with Steinborn & Associates Real Estate

September 2014 has seen record home sales that are the highest since 2008


(Click to Expand)

(Click to Expand)

The Year-to-Date Sales total for 2014 has been best since the marked peak in 2006-2007.

Inventory levels are low, only 1130 homes are actively listed for sale. Historically, this has hovered between 1,200 and 1,300 over the past 5+ years.

Overall Absorption Rate is only 9 months so it's still a buyer’s market, but past three years moving toward balance (6-7 Months)

The Median Price of homes sold in the first 3 quarters of 2014 is $151,525. This represents an increase of 2.3% over 2013 and an increase of 8% over 2012

The 4th quarter of 2013 Sales were up 14% over 2012, the highest since 2010, and the Median Prices of homes sold was up 6.8% over 2012. If there were to be an equivalent 4th quarter in 2014 than this could be an amazing year.

While this report is not a Comprehensive Annual Market Analysis and does not evaluate the strengths and weakness of specific segments of the Market, all these signs are extremely positive.

So how is the market? I would say it is great, and it is getting better every day!

For info on buying a home in Las Cruces, visit our Buyer's Resources. On this website you can find tons of information for buying a home as well as Tips and Tricks for buying a home.

Have questions? Email me at evelyn@homeslascruces.com or download our free in-depth home buyers guide!

Home Buyer's Guide - Bruder Real Estate Team of Las Cruces

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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
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Very nice market update for the Las Cruces area of New Mexico.  Its always interesting to see how other areas are doing.

Oct 16, 2014 03:06 AM #1
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Evelyn Bruder

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