It is January 2012 and already there are some new signs of life in our local Santa Fe real estate market. It looks like the answer to if not now, when? to buy, might just be now or very soon. After three years of the average home sale price steady at near $400,000, there does appear to be a trend of balance in play. In the last quarter of 2011, there were 22 home sales of over one million. And there were 3 sales of over three million. These were not new record numbers, but they have been a solid pattern. Home sales in the price range of below $150,000 have been consistently above average.
The stable sales in the high price range tell me confidence has returned to the Santa Fe real estate market. A second factor is always the number of homes sold in each quarter. Here again, there is balance and consistency through 2011 with an average of over 425 sales for each quarter. At the same time, our inventory of homes on the market is the lowest now since early 2006. Given the attraction of Santa Fe has not changed, it appears there is still pent up demand for the Santa Fe lifestyle from retiring baby boomers.
If not now, when is the question on every Santa Fe home buyer’s mind who is still sitting on the fence. As supply and demand come back into play in a more balanced market, the inventory of deals and good buys will be reduced. And over time, prices will change too if this is the start of new upward trend. So, if not now, when? is the question today for Santa Fe real estate buyers to answer.
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The Santa Fe real estate market is a local one. Real estate news reports and trends in other communities does not apply here. If you are thinking about selling your home or considering a lifestyle change in relocating to Santa Fe, I suggest you give us a call at 505-660-4541 to schedule a real estate consultation. No one has time or money to waste in this new landscape of real estate. We are available to help you and make a positive difference in your real estate experience. Remember, dreams can be made a reality when you act on them. Emily Medvec
Today, I work as a team with Ulla Allyn. Together we represent buyers and sellers in all price ranges in Santa Fe and throughout northern New Mexico. All Listings on this site are represented by both of us. Our mission is to save you time and money whether you are buying or selling any form of Santa Fe real estate, including homes, land, town homes, condominiums, ranches and commercial property.
[Disclaimer Notice: If this post includes a listing, the listing information is deemed reliable from the Santa Fe Association of Realtors as of the date it is written. After that date, the listing may be sold, listed by another brokerage, cancelled, pending or taken off the market or the price could be changed without notice. All opinions expressed are solely those of the author and not Active Rain or Santa Fe Properties, Inc. unless otherwise specified.]
In old movies and television shows, families are portrayed as having strong ties between parents, children, aunts, uncles and grandparents. Relatives seem to join together in close-knit unity, sharing their prosperity and giving each other emotional and financial support.
