Most people are aware that the spring and summer months are considered the “high season” for real estate sales. In most areas of the country, sales peak in April and May and remain brisk well into the summer months. The scenario isn’t much different here in Las Cruces. Warm weather, summer vacation and income tax refunds combine to make a great time for buyers and sellers to make their moves.
What about the winter months? Do sales take a significant dip in the “off season”? According to statistics from the Las Cruces Association of Realtors, the answer is yes – but not much. Take last year for example.
During the winter of 2015/2016, which fell between December 21, 2015 and March 20, 2016, the 322 successful sales of new and used Las Cruces area homes, townhomes and condominiums accounted for 18.9 percent of the year’s total number of closings. Sales hit their high point in the March 21 to June 20 spring selling season, when the 473 closed sales booked during the period made up 27.8 percent of our annual production.
The 482 sales closed during the June 21st to September 21st summer time-frame represented 28.3 percent of our annual total. The remaining 25.0 percent of our 2016 sales took place during the September 22nd to December 20th fall window, when 427 new and used homes changed hands.
If you haven’t already done the math, here’s what the totals look like: The 955 spring and summer closings accounted for 56.1 percent of the 1,704 homes sold. On the flip side, 43.9 percent of our annual sales were booked over the fall and winter months. Even though the numbers are a bit leaner on the flip side, buying and selling in the “off season” has its benefits.
Buyers can benefit from lower prices, less competition, motivated sellers, favorable mortgage terms, and the possibility of taking a tax deduction for interest paid on closings that take place before the end of the year.
Sellers can also benefit during the winter months. Less competition from other sellers, fewer but more serious local buyers, an influx of snowbirds, and lower interest rates often combine to bring about an impressive number of successful sales.
So, does it really matter whether you buy or sell during the “on” or “off” seasons? Not really. Unlike other areas of the country, where winter weather causes a significant dip in sales, Las Cruces enjoys a steady stream of buyers and sellers year-round.
From a real estate perspective, Las Cruces area residents are fortunate to live in a market that’s conducive to success no matter when they choose to buy or sell.
See you at closing.
Gary Sandler is a full-time Realtor and president of Gary Sandler Inc., Realtors in Las Cruces. He can be reached at (575) 642-2292 or Gary@GarySandler.com