Published 6 November 2016
Sales of new and existing homes in Anthony, Chaparral and Santa Teresa, New Mexico produced mixed results through the first ten-months of the year, according to data from the Las Cruces Association of Realtors. New and existing-home sales production and prices varied, depending on location. Here are the nuts and bolts of how the three areas performed.
Anthony. Sales production and prices both showed improvement in the year-over-year survey. New-home sales accounted for six of the 19 closings booked through the first ten-months of the year. The typical new home contained 1,417 square feet and sold for $149,450, or $105.89 per square foot. No new homes were reported sold during the same period in 2015.
The 13 existing-home sales booked through October produced an average sales price of $153,408, or $81.19 per square foot, for homes containing an average of 1,857 square feet of living space. That’s an increase of $3,717, or 2.3 percent, over last year’s average price of $149,641. Last year’s price per square foot was almost identical at $81.04.
Chaparral. No new homes were reported sold through the first 10-months of this year or last, but both years produced six sales of existing homes. This year’s average sales price of $139,683 fell $18,755, or 11.8 percent, below last year’s average sales price of $158,438. While at first-glance the numbers appear to show a decline in prices, the data revealed that the average price per square foot actually rose from $56.96 to $59.70.
The anomaly can be attributed to significant differences in the size of the homes sold. Homes sold during the first 10-months of 2015 contained 2,824 square feet, while the average size of the homes sold this year contained 2,282 square feet of heated and cooled living space.
Santa Teresa. When compared to last year, this year’s 34 new-home sales exceeded last year’s 33-unit tally by just one unit. At the same time, this year’s average selling price of $196,031 fell $15,821, or 7.5 percent, below last year’s average sales price of $211,582. The average price per square foot also declined, falling from $114 in 2015 to $111.02 in 2016.
Sales of existing homes declined significantly in 2016, falling from 33-units last year to 14-units this year. The average sales price and price-per-square-foot also nosedived, declining by $11,243 to $153,012, or $80.02 per square foot, from the $164,255 and $83.64 per square foot posted one year ago.
In the end, sales and prices are up in Anthony and Chaparral, while new and existing-home prices declined in Santa Teresa. As I said, it’s a mixed bag.
See you at closing.