Las Cruces Housing Market Update: April 2016
The housing market in Las Cruces, New Mexico continues to show signs of improvement the first quarter through April of 2016. This is good news for both buyers and sellers in our area.
- Good news for sellers because the average Days On Market is down YTD and the average sold price is up YTD.
- Good news for buyers because interest rates are still low and there are great programs available for the purchase of a new home.
Median Sale Price: The Median Sales Price YTD was $161,000. The number of properties in this calculation was 411 with price ranging from $29,000 to $561,000. This is an increase from 2015 of $10,500 or 7.0%.
Current Active Listings: The Current Active Listings YTD was 676 with prices ranging from $39,900 to $1,850,00. This is a decrease from 2015 of 65 units or 8.8%.
Average DOM Sold: The Average DOM (Days On Market) Sold YTD was 117 with price ranging from $29,900 to $649,900. The average DOM sold increased by 4 units or 3.5%.
Number Sold: The Number of Sold YTD units was 411 with $29,000 to $561,000. This is an increase of 20 units or 5.1%.
Under Contract: The Number of Under Contract YTD was 544 with prices ranging from $129,900 to $649,900. This is an increase of 35 units or 6.9%.
Home Buyers in the Las Cruces area: Home Buyers in the Las Cruces area are still finding great deals on homes but are advised to not wait around as well-priced homes in good condition are selling fast. If you are in the market to buy a home in our area, contact a local expert to help you with your real estate dreams.
Home Sellers in the Las Cruces area: Home Sellers in the Las Cruces area are advised to price their homes within market value to insure the property has the best chance of selling in or around the average DOM. In some cases, well-priced properties in good condition are selling within a few weeks.