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Market Intelligence · NM / Doña Ana County

Las Cruces, NM home prices and housing market

5 ZIP markets liveData updated September 2026Typical value$292K1-yr changeDown1.2%

The typical home value in Las Cruces, NM is $292K as of September 2026, down 1.2% from a year ago, based on the Zillow Home Value Index. In the typical Las Cruces ZIP code, the median list price is $357K and homes spend a median of 74 days on market as of September 2026 (Realtor.com).

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The coverage

Las Cruces, by the numbers.

Typical home valueZillow ZHVI, September 2026
$292K
1-yr changeMedian across Las Cruces ZIPs
-1.2%
ZIP markets live8 tracked in Las Cruces
5
County
Doña Ana County

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12-month value trend

-1.2% over 12 months

Typical home value in Las Cruces over the last 12 months: $295K in Sep 2025 to $292K in Sep 2026 (-1.2%).

Sep 2025$295K

Sep 2026$292K

Median Zillow home value index across Las Cruces's ZIP codes.

Context

Las Cruces had 670 homes for sale as of September 2026, with a median list price of $357,000. New listings in the month totaled 182, while homes spent a median of 74 days on market. The typical home value in the city stood at $291,821, down 1.2% over the past year. About 15.4% of listings carried a price cut. For homeowners considering a sale, the combination of moderate inventory and extended time on market suggests a measured pace where pricing flexibility may matter more than it has in recent years.

The numbers

What is the housing market like in Las Cruces, NM?

Typical home value

$292K

Down1.2%YoY

Median list price

$357K

Days on market

74

Homes for sale

670

Price cuts

15.4%

New listings

182

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026)

Figures reflect Las Cruces's ZIP codes with market data: values and listing medians take the median across ZIPs; inventory and new listings are summed.

Prices over time

Las Cruces, NM home prices over time

Typical home values in Las Cruces, NM are down 1.2% over the past year, from $295K in September 2025 to $292K in September 2026.

Typical home value in Las Cruces, NM, September of each year
MonthTypical value1-yr change
September 2026$291,821-1.2%
September 2025$295,461No prior year

Typical value is the median Zillow Home Value Index across Las Cruces ZIP codes, taken in September of each year so every row compares the same month.

Market balance

Is Las Cruces, NM a buyer's or seller's market?

Las Cruces, NM leans toward a buyer's market.

Homes are taking longer to sell and homes for sale are building up relative to new listings, which gives buyers more room to negotiate.

Based on a median of 74 days on market and 15% of listings with a price cut in the typical Las Cruces ZIP code, and 182 new listings against 670 active listings across Las Cruces, as of September 2026 (Realtor.com).

The outlook

Las Cruces housing market forecast 2027

+0.9%

Weighted average of Zillow's ZIP forecasts, 12 months to September 2027

A weighted average of Zillow's ZIP forecasts, across 5 Las Cruces ZIP codes, points to typical home values rising 0.9% by September 2027.

Over the 12 months through September 2026, typical home values in Las Cruces fell 1.2%, per the Zillow Home Value Index.

Will home prices drop in Las Cruces?

The forecasts do not call for a drop: a weighted average of Zillow's ZIP forecasts for Las Cruces shows typical home values rising 0.9% by September 2027, after a 1.2% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

How this is calculated: each ZIP code's 12-month Zillow forecast is weighted by its typical home value (Zillow Home Value Index, September 2026). 5 Las Cruces ZIP codes have both figures.

Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

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The markets

Which Las Cruces ZIP codes have the highest home values?

Typical value is the Zillow home value index (ZHVI) for each ZIP, as of September 2026. 1-yr change compares it to the same ZIP a year earlier. We track 8 Las Cruces ZIP codes in total; the remaining 3 publish as their data clears editorial QA.

Zillow ZHVI, September 2026

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Common questions

Questions about Las Cruces, NM home prices.

What is the typical home value in Las Cruces?

The typical home value in Las Cruces is $291,821 as of September 2026, down 1.2% over the past year.

How many homes are currently for sale in Las Cruces?

There are 670 homes for sale in Las Cruces as of September 2026, with 182 new listings added that month.

How long do homes typically stay on the market in Las Cruces?

Homes spend a median of 74 days on market in Las Cruces. About 15.4% of current listings have received a price cut.

Are home prices going up or down in Las Cruces, NM?

Typical home values in Las Cruces, NM are down 1.2% over the past year, based on the Zillow Home Value Index as of September 2026.

Is Las Cruces, NM a buyer's or seller's market?

Las Cruces, NM leans toward a buyer's market. Homes are taking longer to sell and homes for sale are building up relative to new listings, which gives buyers more room to negotiate. Based on a median of 74 days on market and 15% of listings with a price cut in the typical Las Cruces ZIP code, and 182 new listings against 670 active listings across Las Cruces, as of September 2026 (Realtor.com).

Nearby markets

More New Mexico housing markets.

The market is moving

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