We hope everyone had a beautiful Mother's Day weekend! The Las Cruces Real Estate Market took no time to relax, in fact, it mixed things up about as much as a dust devil does!
Despite going in opposite directions, New Listings and Homes Sold were our biggest movers this week! This week, we had 70 New Listings, which is an increase of almost 23% compared to last week! Even with that stat on the rise, Pending Sales and Homes Sold experienced a somewhat significant decrease. Pending Sales were down almost 13% compared to last week, meaning that only 62 homes were under contract. The number of Homes Sold was our other big mover with over a 20% drop from last week, making the number of homes sold only 54. This is interesting to see, especially since the number of new listings saw such an increase!
There was no change with Active Listings, which means that we are still hovering a little over 200 homes on the market! Days to Contract was another stat that didn't move from last week. Right now homes are averaging just shy of 2 months on the market, or 54 days. Let's keep our fingers crossed that this time frame doesn't grow any in the coming weeks. Our sellers are still fairing pretty well and continuing to earn over 98% of their original list price. Finally, the Average Sales Price saw a small 2% increase from last week, making it around $274,000.
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