- NEW LISTINGS (Past 7 Days): Unknown @ Time of Release
- ACTIVE LISTINGS: 445
- UNDER CONTRACT: 89 (approx. 20% of total supply)
- # of HOMES SOLD YTD: 53 (Residential Site Built and New Construction ONLY)
- AVG. SOLD PRICE YTD: $143,405
- AVG. DAYS ON MARKET: 133
- MONTHS OF SUPPLY: 8.4 months of supply on the market
As you can see from the statistics, Alamogordo’s Housing Market is trending towards a Buyers Market, as we see a further increase in months of supply on the market. While I don’t anticipate this continuing, Buyers do have a slight advantage in their favor as of the end of January 2019. I expect activity to pick up considerably as we move into February and March, bringing things back to a Neutral Market.
What does this mean for Buyers???
……Buyers are still able to command more in terms of pricing and concessions from Sellers. The more supply on the market, coupled with fewer properties selling each month, favors buyers who are in the market to purchase. That said, I don’t expect sales to remain at current levels. The slow down in activity was likely due to the holiday season and is not uncommon as we move into a new year.
What does this mean for Sellers???
…….Sellers still need to be diligent about who they choose to list their home for sale. They also need to be very mindful of the fact that price, curb appeal and appearance mean everything in getting your home sold quickly. The property needs to be clean and decluttered. Property Photos need to be of professional quality. Video is necessary to grab the attention of buyers. If the marketing of your property doesn’t include doing everything to showcase the property through online platforms (Zillow, Trulia, Realtor.com, Facebook, Instagram, Youtube), then you need to rethink the company you choose to sell your property.
That’s all for this month’s edition of #HousingMarketDataDump, we’ll see you next month!!
Nick Paul – Dei Gratia Real Estate – Owner/Qualifying Broker
ABOUT THE AUTHOR
Nick is a husband, a real estate broker and investor, a friend, a foodie and lover of water (oceans/rivers/lakes). Born in Albuquerque, NM and raised in Alamogordo, NM he has a unique and interesting perspective on local real estate that he can’t wait to share with you. Nick resides in Alamogordo and enjoys getting to meet all the wonderful and vibrant people of Alamogordo and Otero County.