According to the stats on the NM MLS… this is what we did from Jan 1 til Sept 30
Year Homes Sold Dollar Volume Average Price Days on Market
2015 119 $10,320,339 $86,726 207
2016 132 $13,195,594 $99,967 256
2017 126 $11,359,908 $90,158 209
The month was just over so 2017 should have more sales reported. I will update 2017 in a few days.
In the first six months of 2014 we, in the Deming area, sold 40 residential properties for a dollar volume of $3,996,200. The average price was $99,905 and the median price was $100,500. In the first six months of 2015 we sold 32 residential properties for a dollar volume of $3,077,000. The average price was $96,156 and the median price was $96,500.
I know the market is getting stronger in some parts of the country so eventually it will here. When the market improves in the Midwest and Northeast so retirees can sell their homes and make a little money they will begin to come back to the Desert Southwest to retire. You cannot beat the winter weather here…it’s wonderful! And we have plenty of inventory! So…get your home on the market and come join us. We would love to have you!
It’s probably a little premature because more closings could be still pending that actually closed in April but here it is as of this morning. Comparing the first four months of 2015 to the first four months of 2014 in residential sales in the Luna County area:
Number sold $ Value Average Price Median Price Average Days on the market
2014 53 $4,283,550 $80,822 $76,000 199
2015 47 $4,314,669 $91,801 $80,000 229
This is so weird. Fewer sales for more money with a higher average price, a higher median price and longer days on the market??? I know I’m not an statistician but this just seems strange. Guess we will see what the rest of the year brings. I do know there a lot of properties on the market and it looks like prices are starting to go up a little. So hopefully we are continuing an upward climb. Now if we could just get something in the area to bring buyers in to buy houses we would all be in good shape. Or if someone could put a stop to the foreclosures so the retirees could sell their homes in the cold country and come enjoy our mild winters, that would work too!
Mother Nature didn’t receive her calendar this year! It’s April 28th and the high today is 70 degrees! It was pretty cool this morning at 41! We didn’t get snow like many places around did, but we did get a little rain Sunday so it’s worth it and when it does warm up again I’ll probably be whining about that. Cause, that’s what we do, right.
The real estate market has picked up a little in sales and this is the time to do something if you’re thinking about buying. In the Deming-Luna County MLS there are 221 active residential listings. There are 100 listings below $100,000; 63 listings between $100,000 and $150,000; 37 between $150,000 and $200,000 and 18 over $200,000. If for some reason you don’t like any of the houses we have listed and you want to build…we have 465 land listings in the MLS.
The interest rate is still really good (if your credit is good you can get below 4%) and there is a great inventory to chose from. This interest rate can’t stay this way forever…I don’t think. I have been thinking that for a while though. If you haven’t found a lender yet, give us a call. We can tell you about a few. If you’re renting and have decided it’s time to stop that, there are some really great First Time Home Buyer loans available. Ask your lender about them. If they don’t have any available, give us a call.
There are so many great reasons to live in Luna County, New Mexico. We have the best weather (ignore comments above), great water, lots of sunshine, beautiful night skies, friendly people, delicious chile (both green and red!) and
killer sunsets! Come see for yourself. We can sell you a house and you can enjoy it all with us!
Come out! The Deming-Luna County Board of REALTORS will be there!!!
I’m feeling more optimistic than I have for a while about the real estate market in Luna County, New Mexico! According to my calculations, 2014 was 18% better than 2013 in both number of residential listings sold and in $$ value. That’s great! Best news I’ve had in a long time. And…the first quarter of 2015 is about even with the first quarter of 2014, so we’re still doing okay.
We have a more than ample inventory on the market right now…so if you have thought about buying a home…it couldn’t get better than now. Of course no one knows what the interest rates are going to be but they are still very good now. Go to the bank and get pre-qualified and come see us!
Right now there are 212 residential listings in the MLS. We have houses listed from below $20,000 to over $900,000. There are 100 residential properties in the city limits and 53 in the County. There are 18 manufactured homes in town and 41 in the county. One of those residences is the one you’ve been looking for! Come see us!!!
Land sales in the area are different
In 2013 in the first 8 months we sold 10 parcels of land. This does not include farms. We sold 10 parcels of lots and acreage for a total value of $77,850. The average price was $7,785, the Median price was $5,750 and the average Days On The Market was 441.
In 2014 we sold 7 parcels of lots and acreage for a total value of $106,300. The average price was $15,186, the Median Price was $6,000 and the average Days On The Market was 376.
Land sales have been very slow, so if you have land listed for sale, be patient. Especially if these are small parcels in the Deming Ranchettes or Sunshine Valley Ranchettes. At this time we have 234 listings listed between $500 and $10,000. At 10 sales a year that is a 20 year supply. Another thing you need to be aware of is that if you have multiple land listings on one tax bill that will necessitate a “break out” which means you will have to pay the taxes in advance on that tax bill at the time of sale.
This post in no way implies the opinion of any group or organization. These are my interpretations only!
The market seems busier than it did this time last year, and the sales numbers are a little better, but the prices aren’t.
Jan 1 – Apr 30, 2013
46 Residences sold. Dollar amount $4,622,184 with an Average Price of $100,482 and a Median Price of $100,000.
Jan 1- Apr 30, 2014
53 Residences sold. Dollar amount $4,283,550 with an Average Price of $80,822 and a Median Price of $76,000.
There are lots of changes going on in Deming and Luna County this year. By July 1st we will have a new County Administrator, City Administrator, Superintendent of Schools, Deming Mayor and one new City Councilman. By the first of the year we will also have a new Sheriff and possibly more changes. Wonder what all those new people will bring to the table.
We need to do something to stimulate some growth and economic improvement in our area. I realize this is not just our problem, but we certainly have room for improvement. Maybe it’s time for the citizens and business people here to give some ideas to the officials and try to help out. We have had positive things happen here too…a new IHOP Restaurant, Holiday Inn Express, Tractor Supply, Dollar General are fairly recent additions. The Walgreens is coming along quickly as well as the Medical Building near the Mimbres Memorial Hospital. Those things are adding a few jobs but it would be nice to see a larger employer come in. Do you have any ideas??? Now is the time to let them be heard.