February 2017 Las Cruces Market Report

February saw 113 homes sold. This is up from February 2016 with 108 homes sold. So that’s about an increase of 5 percent. The average home sold for $174,790 which is also up from February last year at $166,058. As far as list to sales price, that was 96 percent, which is how much sellers got from their asking price. The median days on market was 65 days, which is the amount of time between the homes being listed and actually going under contract for sale. Sonoma West had 12 homes sold. Sonoma West is the area West of Sonoma Ranch and between Highway 70 and Lohman. Las Colinas had the second most sales with 11. Las Colinas is the area North of Highway 70, off of Sonoma Ranch. The most expensive home sold on Lazo Del Norte in Tierra Escondida, and that sold for $598,000. 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.