August 2020 | Las Cruces Monthly Market Minute
Hi everyone, it’s Kayla here with Z Real Estate. We’re back again for our Monthly Market Minute for August of 2020.
We’ve got a lot to go over in a short amount of time, so let’s get started. 60 seconds on the clock, please.
Ready - set - go!
So we’ve been talking a lot over the past few months about how strong our local market has been even during the pandemic, and this month is no exception.
We’re up 9 new home listings from this time last year, which means we’re pretty close to being on track with the number of homes sold last year, and with everything going on, is a pretty great statement.
The number of homes sold is up, too, with 24 more closings last month compared to August of 2019 - that’s up nearly 12 percent.
Another thing that’s up this month is the average sales price, which is up nearly thirty-two thousand dollars. Now, Zane’s a bit more competitive and gets to have time-outs, but I can quickly say that that’s a decent chunk of money, which shows that inventory is still low and prices continue to be on the rise. We’re definitely still in a seller’s market.
Our top-performing areas were, as always, Las Colinas with 39 homes sold followed by Sonoma East with 19. The most expensive home sold for a cool 1.2 million off of Snow Road.
Remember, real estate is local, neighborhood by neighborhood and price range by price range. If you’re considering selling, let us analyze your home specifically. And if you’re looking to buy, every real estate market has opportunity in it, you just have to know where to find it.
Thanks for checking out this month’s market report. If you haven’t already, be sure to like our page so you can stay up to date with our market stats and new listings we’ve got coming soon.