The Las Cruces market continues to be a buyer's market except in the price range under $150,000 where it is almost balanced. There are significant over-inventory conditions at the higher price ranges. At the end of April, the year-to-date sales were 343 with a median price of $144,000 compared to 311 sales with a median price of $155,900 for the same period in 2011. There were 889 active listings and 104 pending at the end of April. These numbers include properties in Las Cruces, Mesilla, and Mesilla Park.
It should be noted that these figures only represent properties sold through the Southern New Mexico Multiple Listing Service. There are a substantial number of new homes sold directly and not reported through the SNMMLS. The estimate for these is approximately an additional 10%.
Location Characteristics: Las Cruces is the second largest city in New Mexico and is home to New Mexico State University. It is located approximately 45 miles north of El Paso, Texas and is in close proximity to White Sands Missile Range and Spaceport America.
With 350+ days of sunshine per year, it is an exceptional place to live and work.
