Saturday, December 16th, 2006
Las Cruces Housing Market
For about a decade, Las Cruces has been an extremely attractive place to move to — housing costs were significantly below the national average and the climate and natural beauty made this area a wonderful place to live.
As a result, a lot of people have moved here.
And they have driven up housing prices enormously.
Here’s the Real Estate Industry data for the average selling price of a house in Las Cruces for the last 6 years:
2001 – $126,000
2002 – $134,000
2003 – $143,000
2004 – $168,000
2005 – $199,000
2006 – $216,000 (10 month average)
As you can see, the average cost of a house has increased by $90,000 since 2001.
This rapid run-up in prices has caused a lot of disquiet in long-term Crucens. The cost of living is going up, traffic is getting worse, and resource demand is growing exponentially.
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