Real Estate Gazette

Las Cruces NM Home Sales Statistics

Las Cruces NM Home Sales Statistics

The Las Cruces Real Estate market has remained resilient in the first 6 months of 2011.  The area’s economy remains stronger than many other areas of the country but Las Cruces and Dona Ana County are far from being immune to the recession.  The first six months of 2010 witnessed 682 home sales.  Over that same time frame in 2011, the Las Cruces Real Estate market produced 559 home sales, a drop in sold homes by 18%.  Average price of homes sold has also declined.  A year ago the average sales price in Las Cruces was $192,612.  For the same time period in 2011 the average sales price is $186,859, down 3% showing values have not dropped significantly when looking at the market as a whole.

 There is a large disparity between the average sold price and the average active price which is currently $259,550. This disparity can be attributed to the lack of high end homes being sold but also a lack of effective pricing by many home sellers.  The average days on the market for homes sold are roughly 126 days.  The average active home has been on the market 158 days.  Some things in real estate never change; pricing homes correctly improves the chances of any particular home selling. 

Sales of real estate can vary by price range or neighborhood so for any true indication of a specific market, a professional home analysis is in order. While the overall market may be performing a certain way, there are definitely sectors that are outperforming the rest of the market.  One of the best ways to determine a certain part of the market can be local absorption reports.  For those reports CLICK HERE. Connie and Zane would be happy to look at your home and provide an in-depth analysis for you.

Construction Spending in Las Cruces, NM Growing!

Great article written by John Hummer, President and Qualifying Broker at Steinborn & Associates Real Estate here in Las Cruces NM.  I wanted to share this, I believe it is very interesting and revealing of what is currently happening in Las Cruces Real Estate.

 

Invest In Las Cruces and Dona Ana County, New Mexico!

by:  John L. Hummer

Las Cruces, Dona Ana County, New Mexico:   For the first 10 months of 2010, annualized, the following is a quick diagnosis of the health of the local construction spending in our community.

New Single Family Home Permits:

# Permits Over/Under 2009:  -5%

Value of Permits:  + 29% or $44,237,400

New Commercial Building Permits:

# Permits Over / Under 2009:  + 89%

Value of Permits:  + 127% or $3,440,676

All Permits Combined:

This includes new residential / commercial structures, remodels, demolition, churches, barns, metal buildings, rock walls, storage structures, garages, carports, swimming pools, expansions

# Permits Over / Under 2009:  + 1%

Value of Permits:  + 30% or $70,628,441

We expect this growth to continue well into the future based on, but not limited to, the following key factors:

1.  Growth of Ft. Bliss, TX (45 minutes to the south).  Ft. Bliss is undergoing a $5 Billion expansion.  Ft. Bliss has a shortage of 2,200 homes to house the 70,000 increase in soldiers and family members.  Add another 30,000 population from the increase in service industry spinning off to support this growth.  Las Cruces continues to be an attractive bedroom community to accommodate this growth.

2.  Our Reputation.  Las Cruces continues to grow based on its own merits as evidenced by the continued national recognition.  A few examples of such are:

• Projected 2009 - 2001 Employment Growth: 5th in US. Strengths: low business costs, population growth, military/govt.employment.
• Milken 2010 Best Performing Cities: Ranking #8.
• Money Magazine 2010 Ranking: 14th Best County in the nation for job growth over the last 9 years.
• Where to Retire / AARP: Over the past decade, Las Cruces has consistently ranked in the top 10 of best places to retire.

3.  City of the Future.  

a. Spaceport America.  The world's first purpose built commercial spaceport will open its launch pads and runways to the world in 2011.  Virgin Galactic, Armadillo Aerospace and UP Aerospace are but a few of the burgeoning companies who have called our community home.   

b. White Sands Missile Range, New Mexico State University's Physical Science Laboratory (PSL) and Arrowhead Research Park.  These entities in concert with the Department of Defense, NASA, Honeywell, Raytheon and many others are leading efforts in the testing and design of unmanned aviation technology.

c. Alternative Energy.  Dona Ana County is ground zero for the future growth of solar energy and biofuels.    Sapphire Energy (biofuel) and Edison Solar are two new companies that speak to such growth.

d. Diversity, The Great Outdoors & The Arts. Las Cruces has to be one of the most tolerant, diverse communities in the nation.  Its proud Spanish heritage combined with pioneering spirit of the Wild West has blended one of the most inviting communities.                 

Hiking, biking, horseback riding and nature trails are in abundance throughout our fertile Mesilla Valley or at the base of the majestic Organ Mountains. Our community also boasts outstanding and growing art, theatre, symphony and recreational activities.

Las Cruces, New Mexico is a vibrant city whose maximum potential is yet to be realized.  Come grow with us!

 

Las Cruces Home Sales for first six months of 2010 higher than same period in 2009

Results for the Las Cruces real estate market for the first 6 months of 2010 show a 9% increase in sales over the same period in 2009.  A strong showing in May (147 homes sold) and June (140 homes sold) boosted the first six months of 2010 total.  The total of 147 homes sold in Las Cruces in May was the best month of home sales since August 2007.  Last October came close with 145 homes sold. The 2010 sales year started slow with only 62 homes sold in the month of January, the lowest home count in recent history, but seems to be heating up.  Sales have improved and finished the first half of 2010 on a strong note. 

There is little doubt Las Cruces has a good real estate market but the real determining factor in selecting the best home always comes down to neighborhoods.  This is an area where only a strong Las Cruces Realtor can provide the correct information.  Connie and Zane are always happy to help you compare homes and  neighborhoods.  Call Zane Fikany and Connie Hettinga for all of your real estate needs.

Want Las Cruces NM and Mesilla Real Estate Information?

Real Estate Gazette Soon to be Mailed!

For all of you in the internet world that doesn’t know www.RealEstateGazettLC.com originally came from our Newsletter that is mailed out to approximately 2,000 people.  These are our friends, our family, our clients and our future clients.  As the popularity of our Newsletter increased and the lack of quality information for the public became overwhelming obvious we decided we must have a venue in which we could provide more information and do it in a format that allowed us to get information out immediately.  Now we have created a new group of followers online that we could have never reached otherwise.  So if you are not currently getting our Newsletter mailed to you or you would like to make sure your friends and family are getting the newsletter please drop us a line.  The Newsletter has become one of the strongest marketing materials for our clients.  After every Newsletter our clients get valuable exposure to their home and we are able to provide a little information on Las Cruces Real Estate.  We cannot wait to continue adding valuable information to anyone that finds information the key. 

To look at all of Las Cruces and Mesilla MLS Listings please go to www.LasCrucesNMProperties.com

Connie Hettinga Lends Expertise to Local Paper

Not only are home owners realizing the strength of the local Real Estate Market in Las Cruces and the Mesilla Valley but so has the local media.  Our community has long been a great place to live and work.  The local economy has been very resilient.  Connie was recently asked about our real estate market by the Las Cruces Sun News.  While the article does not get into detail it is nice to finally see the media seeing the real estate market as we do.

Article below:

http://www.lcsun-news.com/las_cruces-business/ci_14864563

To search all of Las Cruces Homes:  www.LasCrucesNMProperties.com

December 2009 Home Sales, Las cruces NM

　 December Home Sales

　

1169　　　　　　　　Homes for Sale

56　　　　　　　　　　　　Manufactured Homes for Sale

136　　　　　　　　　　Average Days on the Market

　

95　　　　　　　　　　　　　Homes Sold in Dec

1　　　　　　　　　　　　　　 Manufactured Sold in Dec

82　　　　　　　　　　　　 Average Days on the Market

　

$167,425.　　 Median Price of Sold Homes

$219,000.　　 Median Price of Active Homes

　

71　　　　　　　　　　　　　 Homes Sold in Dec 08

6　　　　　　　　　　　　　　　　Manufactured Sold in Dec 08

　

12　　　　　　　　　　　　　Homes for Sale for 1 Million or more

Las Cruces Home Sales Statistics

Active 　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 　　　　　　1386

Site Built Homes 　　　　　　　　　　　　　　　　　　　　　 　　　　　　1331

Manufactured Homes 　　　　　　　　　　　　　 　　　　　　　　　　55

　

Median Price　　　　　　　　　　　　　　　　　　　　　　　　　　　 $221,700.

　

Homes Under Contract 　　　　　　　　　　　 　　　　　　　　236

　

Sold in August 2009　　　　　　　　　　　　　　　　 　　　　　　　124

Median List Price 　　　　　　　　　　　　　　　　　　　 $165,900.

Median Sales Price 　　　　　　　　　　　　　　　　　 $162,900.

　

Sold in August 2008 　　　　　　　　　　　　　　　 　　　　　　　　　132

Median List Price 　　　　　　　　　　　　　　　　　　　 $169,900.

Median Sales Price 　　　　　　　　　　　　　　　　　 $163,500.

First appeared in the September 2009 Real Estate Gazette.  Read Here.

Las Cruces Sales Scoreboard

  The following are the statistics from 11/11/08 to 11/18/08.  They are a moment in time but will give you an approximate idea of the

Las Cruces

market. 

  Active Homes 1543

  Average Days on Market     167

  Average List Price    $282,853.

  Sold year to Date      1466

  Average Days on Market     154

  Average List Price    $222,582

  Average Sales Price     $211,692

  Sold This Week     10

  Average Days on Market     211

  Average List Price    $165,904

  Average Sales Price     $158,065

Las Cruces Home Sales Scoreboard

Stats are taken in a moment in time on Nov. 4, 2008.  Overall Las Cruses is still strong in many regards.  We have seen a slow decline in Active listings over the last few weeks.  We look to see the new year bring more listings on the market as many sellers prefer to sale after the holidays.

For More Information:  www.LasCrucesNMProperties.com

Las Cruces Area Scoreboard