Ledes from the Land of Enchantment

Areas with the most expensive homes near Las Cruces

(STACKER) Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of May 4, 2022, the 30-year fixed mortgage rate sits at 5.73%. As a result of higher mortgage rates across the board, home prices have risen significantly. According to the National Association of Realtors, the national median home price is $375,300—up from just over $356,000 this time last year.

Areas with the most expensive homes near Albuquerque

Although home prices have inflated all across the US, there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it’s good to educate yourself on the market in different cities.

Stacker compiled a list of cities with the most expensive homes in Las Cruces using data from Zillow. Cities are ranked by the Zillow Home Values ​​Index for all homes as of March 2022. Cities with at least three years of historical data were included. The charts in this story were created automatically using Matplotlib.

#10. Chaparral, NM

– Typical home value: $160,943
– 1-year price change: +18.3%
– 5-year price change: +49.9%

#9. Sunland Park, NM

– Typical home value: $171,482
– 1-year price change: +16.4%
– 5-year price change: +46.9%

#8th. Mesquite, NM

– Typical home value: $177,369
– 1-year price change: +16.3%
– 5-year price change: +42.9%

#7. Anthony, NM

– Typical home value: $189,069
– 1-year price change: +17.1%
– 5-year price change: +46.0%

#6. Vado, NM

– Typical home value: $204,738
– 1-year price change: +14.9%
– 5-year price change: +43.6%

#5. Mesilla, NM

– Typical home value: $208,541
– 1-year price change: +17.1%
– 5-year price change: +60.2%

#4. La Mesa, NM

– Typical home value: $228,130
– 1-year price change: +15.1%
– 5-year price change: +50.9%

#3. Las Cruces, NM

– Typical home value: $244,057
– 1-year price change: +17.2%
– 5-year price change: +42.7%

#2. Santa Teresa, NM

– Typical home value: $264,404
– 1-year price change: +16.7%
– 5-year price change: +36.4%

#1. Mesilla Park, NM

– Typical home value: $315,233
– 1-year price change: +15.4%
– 5-year price change: +41.5%

Comments are closed.