Las Cruces Real Estate | May 2021 Monthly Market Minute
We're back once again for the Las Cruces Real Estate Monthly Market Minute. I know what you’re thinking - just how crazy has the past month been for our local real estate market? Well, do you have 60 seconds to stick around and find out? I thought so.
If you’ve been following along with our weekly market stats every week - which if you aren’t by the way, be sure to do so - you’ve seen how bonkers the market has been lately. This past month saw 221 homes sell which is nearly 40% more than the 159 that sold in May of 2020. The average sales price is elevated, too, with a $56,000 increase to $267,000. That’s up over 26%, which shows just how much the luxury sector of the market has been growing.
Those $400,000+ homes are continuing to raise the bar. Last month saw 23 luxuries sell, a whopping 16 more homes than May of 2020. And remember, even with the COVID-19 lockdown, last May still had 8 luxury sales which was on par with 2019, so it’s fair to say that the luxury market is on fire.
Continuing on with some big news from last month - our reigning champion neighborhood Las Colinas has been defeated in sales, falling to second place with 30 homes sold. The new champion neighborhood is Sonoma East with 33 homes sold! The most expensive home was sold for $870,000 off of Via Estrella with some gorgeous views out in Las Alturas.
If you’ve got questions about the real estate market, leave a comment below, reach out to us here, or you can find our contact info below! Also, be sure to follow us on Facebook and Instagram for not only our week-by-week snapshots of the market statistics, but also real estate tips, and spotlights on businesses and events happening right here in Las Cruces. Thanks for watching, we’ll see you again soon!