Las Cruces Real Estate | April 2021 Monthly Market Minute
Hi everyone, you know what time it is. We’re back again with the Monthly Market Minute where we look at how the Las Cruces Real Estate Market has been performing over the past month. And what a month it’s been - temperatures are rising and the market is heating up! Here’s hoping that the 60 seconds I’ve got will be enough, you’ll just have to stick around to find out. Let’s get the timer up on the screen, please.
Ready - set - go!
Homes continue to fly off the streets nearly as soon as they come on. Last month there were 250 homes sold which is up 36%, or 66 homes. One stat we don’t often look at in these market minutes is the days on market, which is how quickly homes sell after being listed. Last April homes were on the market for an average of 54 days and this year, they’re moving nearly twice as fast at just 28 days.
The average sales price is elevated as well as that demand continues to grow - this past month’s average was $263,000, which is up nearly $45,000 over this time last year. We also said this last month, but it’s still true that one of the factors driving that average price up is the luxury market. Last month had 27 of those homes sell, which is more than double April of last year, bringing the total of luxury homes sold in 2021 up to 90.
Whether you’re in the market to buy or sell, or if you have any questions, you can reach us here, or you can find our contact info below!
Thanks for watching, we’ll see you next time!