Home New mexico real estate Cities with Fastest Growing Home Prices in Metro Las Cruces

Cities with Fastest Growing Home Prices in Metro Las Cruces

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by: Stacker

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LAS CRUCES, NM (Stacker) — It goes without saying that the coronavirus pandemic has unleashed a wave of uncertainty across a myriad of industries, and no other market has felt its impact quite like real estate. The pandemic has become a driving force behind the continued property boom, with strong demand for vacation homes and a limited supply of homes prompting buyers and investors to drive up prices for affordable properties, sending prices skyrocketing houses.

The ability to work remotely played a role in driving demand for vacation homes in mid-2020 as affluent Americans chose to ride out the pandemic with more amenities and space outside of dense urban areas.

Stacker compiled a list of cities with the fastest growing home prices in the Las Cruces metro area using data from Zillow. Cities are ranked by year-on-year price change as of August 2022. The typical value of a home in the United States increased over the past year by +14.1% to $356,054.

The 11 cities and towns for which data is available have been included in the list.

11. Garfield, New Mexico

  • Price change over 1 year: +$18,084 (+12.1%)
  • Price change over 5 years: + $129,657 (data not available)
  • Typical home value: $168,066 (11 most expensive metro city)

10. Mesquite, New Mexico

  • Price variation over 1 year: +$24,500 (+14.8%)
  • Price change over 5 years: +$61,474 (+47.7%)
  • Typical home value: $190,326 (8th most expensive metro city)

9. La Mesa, New Mexico

  • Price variation over 1 year: +$24,872 (+11.5%)
  • Price change over 5 years: +$85,692 (+54.9%)
  • Typical home value: $241,879 (fourth most expensive metro city)

8. Vado, New Mexico

  • Price change over 1 year: +$25,395 (+12.9%)
  • Price change over 5 years: +$71,894 (+48.0%)
  • Typical home value: $221,702 (6th most expensive metro city)

7. Anthony, New Mexico

  • Price change over 1 year: +$27,442 (+15.6%)
  • Price change over 5 years: +$70,451 (+53.0%)
  • Typical home value: $203,456 (7th most expensive metro city)

6. Sunland Park, New Mexico

  • Price variation over 1 year: +$28,761 (+18.4%)
  • Price change over 5 years: +$66,176 (+55.7%)
  • Typical home value: $185,075 (9th most expensive metro city)

5. Chaparral, New Mexico

  • Price change over 1 year: +$28,950 (+20.5%)
  • Price variation over 5 years: +$60,559 (+55.3%)
  • Typical home value: $170,131 (10 most expensive metro city)

4. Mesilla Park, New Mexico

  • Price change over 1 year: +$31,302 (+10.6%)
  • Price change over 5 years: +$98,827 (+43.2%)
  • Typical home value: $327,531 (#1 in most expensive metro city)

3. Mesilla, New Mexico

  • Price variation over 1 year: +$38,848 (+19.7%)
  • Price change over 5 years: +$100,105 (+73.6%)
  • Typical home value: $236,029 (5th most expensive metro city)

2. Las Cruces, New Mexico

  • Price variation over 1 year: +$38,944 (+17.3%)
  • Price change over 5 years: +$88,969 (+50.8%)
  • Typical home value: $264,080 (3rd most expensive metro city)

1. Santa Teresa, New Mexico

  • Price change over 1 year: +$41,409 (+17.0%)
  • Price change over 5 years: +$92,493 (+48.1%)
  • Typical home value: $284,766 (second most expensive metro city)