I am partially repeating yesterdays information because localism did not recognize it as a market analysis. I have added information about the current state of the market (January & February 2007) and included links to the Las Cruces Chamber of Commerce and the Mesilla Valley Economic Development Alliance.
The attached .pdf document is an analysis that I have prepared showing the data for the 2006 Real Estate Market for Las Cruces, NM, and then compares that data against previous years. It contains the sales data and average and median price data overall, and also sales data by price ranges and determines consumption rates of the inventory of active listings as of 12/31/2006. CLICK HERE TO SEE THE ENTIRE DOCUMENT.
What you will find is despite a slow down in the number of homes sold in the 4th quarter of 2006, prices did not fall for either re-sales or new construction, and we had a record year overall in sales numbers, and prices still appreciated approximately 7-8%. Like everywhere else, our sales and price increases did not reach the double digits of the 2 previous years. But we continue to grow as a community, and our housing market is vibrant.
The number of homes sold during January and February of 2007 was more similar to 2005 than 2006. This is not seen as a significant problem. We historically have the lowest sales figures during the first quarter of every year, with peak sales in the second and third quarters, and a leveling off during the 4th quarter. Despite decreased number of sales versus January and February of 2006, the average and median price of homes sold increased 25% compared to January and February of 2006 and increased by 11% over the 2006 average and median price. These increases in the average and median prices show that our market is still active and growing versus many other areas that are experiencing receding numbers of sales and falling prices. In Las Cruces, New Mexico we are look forward to 2007 being another record year of growth in the Real Estate Market.
For those who want to see how great the economy and quality of life is in Las Cruces I refer you to the 2 websites. The Las Cruces Chamber of Commerce: http://www.lascruces.org, and the Mesilla Valley Economic Development Alliance (MVEDA). MVEDA is a combined public and private sector economic development partnership that serves the Las Cruces MSA, including Doña Ana County. MVEDA is a major data center. The MVEDA Website: http://www.mveda.com/provides virtually everything you need to know about businesses and business development in Las Cruces. You will find information about the Las Cruces area, our resources, and all of the demographic and economic data that you could possibly want to know.
I hope that this market report is helpful to local residents as well as those of you who are out of town, considering retiring or relocating and to all of the Realtors out there who are interested in our market or have clients planning a visit or a move to this wonderful area.
If I can provide any further information about the Real Estate Market or the Community please feel free to contact me at any time.
Your Las Cruces, E-pro Certified, Internet Professional, Evelyn Evelyn Bruder, CRS, GRI, ABR, E-PRO
Visit "THE SITE FOR LAS CRUCES REAL ESTATE INFORMATION" http://www.homesforsaleinlascruces.com
email: evelyn@lascruces.com CALL ME: 505-650-7224 TOLL FREE direct line: 1-888-532-9069 OFFICE Direct Line: 505-532-2211
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