Did You Know??……
27% of Homes Sold in Alamogordo and Otero County in the last year were sold during the winter (Nov./Dec./Jan./Feb.)
Winter is a Great Time to Buy a Home!
To me, this is what I think of when I think about Winter…..
Winter = Holiday Music + Hot Cocoa + Snowman + Sledding + Holiday Lights + Santa + Family….
Who’d have thought that almost a quarter of people are in the market to buy a home would believe that winter is the best time to buy a home!!
In real estate, the spring is often seen as the ideal time to buy or sell a house. The term “Spring Buyer’s Season” exists for a reason, as renters and those looking to move on from their current home thaw out from the winter and hit the market ready to buy.
According to Bank of America’s annual Home Buyer Insights Report, 41% of renters surveyed agree that spring is the best time to buy a home. The surprising result, however, is that when ranking the seasons, winter comes in second at 24%.
I was very surprised when I read this statistic….I was certain that winter would be dead last. And, well, I was dead wrong. Apparently many people feel that winter is a great time to buy a home. In Alamogordo and Otero County approx. 27% of the homes that sold throughout 2017 were sold in the winter!
In many areas of the country, the spring and summer are the most competitive seasons for buyers. Families with children often want to move over the summer to make sure that their kids are ready for school in the fall. This often leads those families who haven’t found homes to buy to push pause on their search in the fall and winter months.
This creates a great environment for buyers to find a home with less competition. According to moving.com, scheduling a move during the winter months also comes with the best price.
“If you define ‘best’ by cost then, generally speaking, you are more likely to save on a move during the late September to April window. Demand for movers usually slows down during this time frame and rates are low.”
There are also many benefits to listing your house for sale during the winter months as well!
As we recently mentioned, buyers who are out in the winter are serious about wanting to find a home, and there is traditionally less competition on the market which gives you greater exposure to those buyers.
As always, the best time to buy or move all depends on each individual buyer or seller’s goals and needs. If you are one of the many who would like to make a move this winter, let’s get together to create a plan to make it happen!
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.