• Jul 14, 2017 June home sales in Las Cruces best in a decade
    Gary Sandler
    No Comments | 0 likes | 1,650 Viewers

    Published 14 July 2017

    LAS CRUCES – Local Realtors have been busy.

    Sales of new and existing homes, townhomes and condominiums rose in June to the highest level seen in the past 10 years, according to a July 11 report from the Las Cruces Association of Realtors. The 195 sales reported last month outpaced May’s 193 sales by two units, and exceeded by 12 units the 183 sales booked in June of 2016. Sales production wasn’t the only measurement that enjoyed year-over-year gains.

    June’s average sales price of $199,451 was the highest price posted since June of 2010, when buyers paid an average of $195,222 for their homes. Prices at that time were on the decline and continued their downward trend until hitting $171,213 in June of 2013. Prices hovered in the $177,000 range during the following three years, after which an influx of buyers and a shortage of inventory began pushing prices skyward.

    The average time required to sell a Las Cruces-area home has also improved over the past few years, falling to 74 days from the 143 average days on the market reported in June of 2012. Last year at this time, it took an average of 94 days to sell a home.

    With mortgage interest rates and home inventories still hovering at near-record lows, prospects for continued sales and price gains remain optimistic, at least through the summer. Buyers who have been waiting for an opportune time to make their purchase should seriously consider putting their wheels in motion.

    See you at closing!

    Gary Sandler is a full-time Realtor and president of Gary Sandler Inc., Realtors in Las Cruces. He can be reached at 575-642-2292 or Gary@GarySandler.com

    About author

    • About Author

      Gary Sandler