Las Cruces Real Estate Market Report for October 2013 Show 88011 is Still A Buyers Market
Real estate market data for Las Cruces, N.M. provided by Jeffrey Stevens of Keller Williams Realty.
Las Cruces (88011) Home Prices
We have seen a decrease in home prices in the 88011 zip code of Las Cruces, N.M. in the past 12 months which would indicate that this area is very much a buyers market. 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. Don’t wait on the sidelines for too long, with interest rates still at record lows, 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 on 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, homes have a median time of 153 days on the market before they sell. This would suggest that buyers are in a great position to make an aggressive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those 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.
Las Cruces Real Estate Market Report Summary for 88011
The median sale price October 2013 for single family homes in the 88011 zip code of Las Cruces is $207,000. This is a decrease from October 2012 of $9,150 or 4.2%.
The number of houses sold in October 2013 was 339 ranging in price from $60,000 to $800,000. This is an increase from last year by 31 units or 10.1%
The average days on market of sold houses was 153 ranging in price from $60,000 to $802,000. This is an increase from this time last year of 12 days or 11.7%
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