December 2018 Las Cruces Market Report
This month, the number of homes sold is down from a year ago. Last year there were 175 sales in December while this year produced 150. 150 homes sold is actually the lowest in December since 2015. The average home price has also fallen some from a year ago from $190,162 to $183,835. The real estate market is not all doom and gloom however, one of the most expensive sales of the year closed in December at 1.25 Million in Tierra Escondida.
The area of Las Cruces which saw the most homes sold is Las Colinas with 20 homes, followed by Santa Teresa with 13 homes sold and then Sonoma West with 12 homes sold.
7 of the 150 homes sold were luxury homes. That’s homes that close for over $400,000. That brings us to 115 luxury homes for the year.
Now it's easy to say that the market has slowed down based on the December numbers but overall 2018 was a banner year for real estate in the Mesilla Valley. Keep an eye out for our complete report of the 2018 real estate market.
And remember, real estate is local, neighborhood by neighborhood, price range by price range. If you are considering selling, let us analyze your home specifically. And if you are looking to buy, every real estate market has opportunity in it you just have to know where to find it.