- NEW LISTINGS (Past 7 Days): 17
- ACTIVE LISTINGS: 532
- UNDER CONTRACT: 105 (about 16.5% of total supply)
- # of HOMES SOLD YTD: 657
- AVG. SOLD PRICE YTD: $164,459 (up 3.53% from 2017)
- AVG. DAYS ON MARKET: 114 (up 1.75% from 2017)
- MONTHS OF SUPPLY: 6.8 months of supply on the market (cusp of buyers market)
As you can see from the statistics, Alamogordo’s Housing Market is trending towards a Buyers Market. There is a lot of supply on the market and not as much demand to absorb the number of homes available for sale.
What does this mean for Buyers???
……Buyers are able to command more in terms of pricing and concessions from Sellers. When there is more supply in the market than there is demand, it puts buyers in the drivers seat and gives them a stronger position to negotiate from, with Sellers. If you’ve been thinking about buying, now is a great time to do so, as there are plenty of homes to choose from and one is sure to fit your needs.
What does this mean for Sellers???
…….Sellers need to be even more diligent about who they choose to list their home for sale. They also need to be very mindful of the fact that curb appeal and appearance mean everything in getting your home sold quickly. The property needs to be clean and decluttered. Pictures need to be of professional quality. Video is necessary grabs 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