• Nov 13, 2016 Home-sale production, prices improve in October
    Gary Sandler
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    Published 13 November 2016

    Local Realtors sold more new and existing homes, townhomes and condominiums this October than they did one year ago, according to statistics from the Las Cruces Association of Realtors. Home prices also improved in the year-over-year survey.

    Sales of new and existing single-family, free-standing homes rose 15.7 percent, from 102-units one year ago to 118-units this year. At the same time, this year’s combined average price of $194,135 outpaced last October’s combined average price of $192,233 by $1,902, or about one percent.

    October produced a total of six townhome sales in both 2015 and 2016. This year’s average price of $123,000 exceeded last year’s average price of $109,150 by $13,850, or 12.7 percent. While this year’s higher average price appears to be a significant improvement, the majority of the increase can be attributed to buyers choosing larger, and therefore, higher priced units.

    Condominium buyers were nonexistent in October of 2015, but buyers purchased a total of 5-units this year at an average price of $131,600.

    A total of 1,412 new and existing homes, townhomes and condominiums changed hands during the first ten-months of this year, which is a 158-unit increase over the 1,254 sales booked through October 31st of 2015. Free-standing homes accounted for one hundred forty-five of the 158 additional sales, with condominiums adding an additional 19 sales. Six fewer townhomes sales were recorded this year than last.

    In the end, Las Cruces area home sales and prices continue to post gains, albeit like a snail on Vallium.

    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.

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      Gary Sandler