Today, the Santa Fe market is shifting in part due to the lag effect of consistently high mortgage interest rates and the expectation of a future interest rate cut. Over the past several months, the inventory of homes, condos and townhomes have increased. Due to the high mortgage interest rates, many buyers have not been able to afford a Santa Fe property. This continues to have inventory rise giving buyers MORE choice. Now with the expectation of lower mortgage interest rates, more buyers are in the market. At the same time, Sellers are also lowering their home price giving more buyers an opporuntity. Today, there are 919 homes, condos and townhomes on the market for sale in Santa Fe. Now nearly 50% of the Sellers have adjusted their prices with a price drop. This means opportunity. Looking for one today? Then simply click here. By the way, this link is updated continously and the percentages do change. Why not bookmark the link to always be informed?
Bottom Line:
If you are a Seller sitting on the fence because you believe there is no inventory in the Santa Fe market, then you are missing opportunities. For example, if you current home is not the right fit and you have been waiting to upsize or downsize, more inventory is a solution. Likewise, if you have been a buyer who only focuses on the mortgage interest rate, you have been missing the homes with lower prices because you are on the fence. To those of you on the fence, remember you can not time the market. What you can do is be more informed as information gives you leverage in the market. I am available for a conversation to discuss your options. Just call or text me at 505.660.4541 to be more informed. Or email me here. There is no fee or obligation and all consultations are confidential. Thank you for reading. I look forward to hearing from you. Emily Medvec