Las Cruces NM real estate sales have declined this year over last. Not a big surprise, the down market just took a little longer to reach us here in Las Cruces NM.
Las Cruces Realtors only sold 485 homes during the third quarter of 2008. That is 214 fewer than last year. I have seen many Realtors making career moves to a completely different field. Those of us who are continuing to make home sales feel bad for our fallen coworkers and wish them well. It is interesting, for a while everyone and their brother became a Realtor or a builder, but now only the serious full time Realtor remains.
The largest decline came from new homes. New home sales were down 46.2 percent over last year third quarter. Existing homes did better but were still down 20% from last year or 88 fewer from the 426 sold in third quarter of 2007.
The average home price in Las Cruces NM is down 4.1 % over last year and the median price is down 4 %. Remember the median price is where half the homes sold for more and half sold for less. With declining prices we are seeing longer days on the market. New homes days on market are now about 6 months and existing homes days on market is 141 days.
So what do all these facts and figures mean?
If you are selling your home in Las Cruces NM, you better role up your sleeves and be ready for a long haul. You would be wise to pick a Realtor who is going to flood the Internet with your listing since 84% of all home buyers start their search online.
If you are a buyer, WooooooHooooooo! Now is the perfect time to buy in Las Cruces NM. Selection is great, prices haven’t been this low in years. Sales are still taking place in this market although at a slower pace but homes are being sold.
