Las Cruces Real Estate Market Report for September 2017 YTD - Increase in Median Home Prices
Las Cruces, New Mexico Home Prices
Real estate market data for Las Cruces, N.M. provided by Jeff Stevens, Associate Broker Berkshire Hathaway HomeServices New Mexico Properties.
In September, we have seen another Year To Date increase in median home prices in Las Cruces, NM. If you are considering buying a home you can find deals on a house in Las Cruces but having a good real estate agent who understands the market is a must. Click here to contact me now.
Don’t wait on the sidelines for too long, with interest rates still at record lows but rising, now is the time to purchase the home of your dreams. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Las Cruces home of which you are making an offer.
If you are interested in current inventory in Las Cruces, NM you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently, in the Las Cruces area, single-family homes have a median time of 79 days on the market before they sell.
Sellers should make sure to price their home near the market value if they expect to get an offer from interested buyers. I wouldn't expect home prices to increase to record levels like we've seen in the past, as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse.
Market Report Summary YTD
The median Sell Price YTD September 2017 for single family homes in Las Cruces, NM is $176,000. This is an increase from September 2016 of $8,868 or 5.3%.
The number of homes Under Contract YTD September 2017 was 1,346. This was an increase from September 2016 of 150 or 12.5%
The number of homes Sold YTD September 2017 was 1,228. This is an increase from September 2016 of 88 units or 7.7%
The average Days On Market YTD of sold houses in September 2017 was 79. This is a decrease from September 2016 of 17 days or 17.7%
Data derived from SNMMLS