How is new construction selling in Las Cruces?  We have compiled the following 12 month absorption rate report as of November 13th, 2008 (12 months data):

 

Price Range # Active Listings # Sales Avg. # Sales/Month # Months to Absorb Current Inventory
 
$100,000 - 129,999 27 13 1.1 24.9
$130,000 - 139,999 4 21 1.8 2.3
$140,000 - 149,999 8 10 0.8 9.6
$150,000 - 159,999 6 8 0.7 9
$160,000 - 169,999 22 36 3 7.3
$170,000 - 179,999 18 18 1.5 12
$180,000 - 189,999 8 21 1.8 4.6
$190,000 - 199,999 16 10 0.8 19.2
$200,000 - 249,999 57 60 5 11.4
$250,000 - 299,999 16 27 2.3 7.1
$300,000 - 349,999 20 24 2 10
$350,000 - 399,999 34 18 1.5 22.7
$400,000 - 449,999 10 8 0.7 15
$450,000 - 499,999 16 7 0.6 27.4
$500,000 - 599,999 13 8 0.7 19.5
$600,000 - 699,999 9 5 0.4 21.6
$700,000 - 799,999 6 6 0.5 12
$800,000 - 899,999 4 2 0.2 24
$900,000 - 999,999 1 0 0 n/a
$1,000,000 + 2 1 0.1 24

 

We will be performing an analysis comparing residential resale absorption versus new construction and post to this blog with detailed analysis.

 
Posted by John Hummer, Owner & Broker on 11/15/2008 08:43 PM   Comments (0)  
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Hummerjohn_08

John Hummer, Owner & Broker

Las Cruces, NM

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Steinborn Inc. REALTORS

Address: 141 Roadrunner, Suite 141, Las Cruces, NM, 88011

Office Phone: (575) 532-2300

Cell Phone: (575) 496-7272

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