Monday, October 23rd, 2006

Las Cruces Real Estate

Las Cruces has seen huge growth in the last few years. The population of the city has increased 8.5% since 2000, to an estimated 83,000. There are an additional 40,000 to 50,000 people living in the surrounding valley, and a total of about 190,000 in the county (Doña Ana).

Real Estate and housing prices have doubled during that period. The local paper reports that the average closing price of a house in Las Cruces last month was $221,000. A year ago it was $176,000.

I think the growth of Las Cruces is just beginning. Las Cruces offers attractions and advantages that are no longer available in states such as Colorado, Arizona, and Nevada. I predict a huge influx of relatively wealthy people, most from the West Coast.

This is going to continue to change Las Cruces in unfortunate ways.

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