Alamogordo Home Sales Solid Per Local Professionals and a Look Back to 2020 to Present

Alamogordo Home Sales Solid Per Local Professionals and a Look Back: 2020 to Present with Meike Schwarz and Sharon Carr Welcome Home RealtyPhoto by2nd Life Media Alamogordo Town News KALHRadio.org

The real estate market in Alamogordo is one that has seen a lot of activity and an upward spiral in home prices since the days of the pandemic. We hear reports of a tight market and there is the never ending concerns about interest rates and inflation. However, the fact remains that Alamogordo remains a “sellers market.” Even with higher interest rates, than in years past, real estate is being sold and prices are ever increasing well over 2020 prices and well over the $200k threshold of years past.

We interviewed, Meike Schwarz and Sharon Carr, of Welcome Home Realtors, to get their insight into what is happening in the local market.

Meike and Sharon were thrilled to show us their new offices which are bright, airy and very welcoming located at 1106 Tenth Street, Alamogordo, New Mexico.

Before we dig into the numbers for this month, let’s look back a few years and see how the market has shaken out…

During the pandemic year of 2020 sales were up 26.6 percent over 2019 nationwide, according to the National Association of REALTORS.

“This (real estate) market is hotter than I’ve seen it since Tonopah sent the stealth in 1992 and the Germans came. I’ve not seen a market this hot,” Welcome Home Realty Associate Broker Claudia Powell said to the Alamogordo Daily News in an interview in 2020, “Completely unexpected.”

Welcome Homes Realty Sign For Sale and Sold in AlamogordoPhoto by2nd Life Media Alamogordo Town News KALHRadio.org

“During 2020 a 30 year fixed mortgage rate was at 2.789 percent while a 15-year fixed mortgage is 2.289 percent and you could purchase a home around $140k,” said Sharon Carr a partner broker of Welcome Home.

Step forward to 2022, and the market shifted some, as interest rates began to increase, but so did home selling prices.

Meike Schwarz pointed out that “by 2022, the median sales price for a single-family home in Otero County during November was $196,000. That's an increase of 24.5% compared with November 2020, a significant increase.” That price increase in homes sold held steady though-out the year in spite of fixed rates for a 30 year mortgage of 5.53%.

Now we move forward to 2024 and on the day we spoke with Meike and Sharon interest rates adjusted that very morning to 7.14%

We asked Meike and Sharon if they were concerned with the interest rates and if the election might have an impact on local real estate sales

Both acknowledged that “a very few people have mentioned the election but they still are moving forward with purchasing.” Meike said, “interest rates while high, compared to recent standards, are more normalized to what historic rates have been over her several decades in real estate.”

Both agree Alamogordo is a “sellers market” Proof is in what prices are today verses a few years back. According to the local board a realtor reports prices in March 2024, were a median sales price of $260,000 with 41 homes sold.

And in April the median sales price for a home was $246,500 a dip but not a huge concern. The dip was the result on fewer home sold in April on the highest end of the scale verses March.

For April there were 155 homes available to purchase with 115 priced at $200,000 and above, with 106 listed over $300,000.

In May there are over 153 homes available and 138 homes listed over $200,000 with 105 listed over $300,000.

The real estate market in Alamogordo is ever evolving, but one thing remains constant few homes are sold under $200,000 this days unlike 4 years ago.

March verses April Sales as per Otero County Association of Realtors and Welcome Home RealtorsPhoto by2nd Life Media Alamogordo Town News KALHRadio.org