- NEW LISTINGS (Past 7 Days): 11
- ACTIVE LISTINGS: 468
- UNDER CONTRACT: 109 (approx. 18.8% of total supply)
- # of HOMES SOLD YTD: 813
- AVG. SOLD PRICE YTD: $167,350 (up 4.6% from 2017)
- AVG. DAYS ON MARKET: 112 (down 1.75% from 2017)
- MONTHS OF SUPPLY: 6.43 months of supply on the market (cusp of neutral market, decrease in supply from October 2018)
As you can see from the statistics, Alamogordo’s Housing Market is trending towards a Neutral Market, as we see a further decrease in months of supply on the market.
What does this mean for Buyers???
……Buyers are still able to command more in terms of pricing and concessions from Sellers. It appears we are moving towards a Neutral Market though, which is a sign that Buyers may not have as much negotiating power as was the case months prior. We’ll continue to watch the months of supply as we close out the year to see if we slip more into a Neutral Market.
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 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.