• Gary Sandler
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    Published 15 September 2017

    LAS CRUCES – Local Realtors sold 173 new and existing homes, townhomes and condominiums in August, up five units from the 168 residential properties sold in July and up 19 units, or 12.3 percent, over the 154 properties sold in August of 2016, according to statistics culled from the archives of the Las Cruces Association of Realtors on Sept. 10.

    Sales of existing homes accounted for 161, or 93 percent, of the 173 sales, representing an 11-unit increase over the 150 existing homes sold in July. August existing-home sales numbers also topped by 14 units, or 10.2 percent, the 137 homes sold in August of 2016. Sales prices also posted impressive gains.

    Local homebuyers paid an average of $198,024 for the 161 previously-owned homes they purchased in August, up $7,481, or 3.9 percent, over the $190,543 average price posted in July. At the same time, August’s average sales price exceed by $26,350, or 15.3 percent, the $171,674 average sales price reported in August of 2016. Last month’s average sales price, which has risen steadily over the past decade, was within just a few hundred dollars of the $198,761 average price reported in August of 2007.

    Local homebuilders sold a total of 12 newly-constructed homes in August, which was a six-unit decline from the 18 units sold in July and a 5-unit decline from the 17 units sold in August of 2016. New-home sales prices posted positive results, however.

    New-home buyers paid an average of $213,144 for the 12 homes they purchased in August, exceeding by $5,154, or 2.5 percent, the average price paid by buyers who purchased in July. August’s average sales price was also a $23,270, or 12.3 percent, improvement over the $189,844 average price paid in August of 2016.

    The current inventory of new and existing homes, townhomes and condominiums remains low at 759 active listings, of which 715 are traditional single-family, free-standing homes. The 295 properties currently under agreement and scheduled to close in the near future has declined slightly over the past month but remains high when compared to the number of pending sales reported at this time last year.

    See you at closing.

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

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      Gary Sandler