New Construction Absorption Rate Report

By
Real Estate Broker/Owner with Steinborn Inc. REALTORS

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.

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John Hummer

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