The Santa Fe City and County home inventory remains LOW at 373 properties but with a slight increase from 317 properties a year ago. The median sales prices between Sept 23 – Sept 29, 2021 is what it is at $680,000 from ($575,000) a year ago but with a drop of only 31 home sales (from 47) from a year ago in both the city and county. There is still steady buyer demand due to our Santa Fe, New Mexico destination. At the same time, you will see fluctuation and changes within the Seller market due to Low Inventory and now rising mortgage rates. Next is the by area detail snapshot with number of homes sold and median price.
[Note Black color means Increase and Red color means decrease from a year ago.]
- Northeast City – 1 sold – $1,100,000 median price
- Southeast City – 5 sold – $680,000 median price
- Northwest City – 0 sold – N/A median price
- Southwest City – 12 sold – $445,000 median price
- Eldorado S/D – 3 sold – $693,000 median price
- Northeast County – 1 sold – $2,375,000 median price
- Southeast County – 2 sold – $557,500 median price
- Northwest County – 5 sold – $1,350.000 median price
- Southwest County – 2 sold – $559,400 median price
- Far South County – 0 sold – N/A
All above data is from the Multiple Listing Report of Santa Fe Association of Realtors for the period of Sept 23 – Sept 29, 2021.
Today, the Santa Fe housing market appears to be a slipping from a steady Sellers’ market for both Santa Fe city and county. This means days on market under 90 days. Yet, if you are a Seller, historically mortgage interest rates above 6.5 % are NOT in your favor anymore. Why? Buyers are looking for MORE home value even in a low inventory market. And more days on market, gives Buyers more choice.
Why not learn more? Now is not the time to miss any opportunity for yourself and family. Are you thinking about selling your Santa Fe NM property? It is time for a home value check. Click here for one. What are some solutions to selling a still finding a home you can afford? Being complacent is never a choice. It is best to be more informed about the market, trends, neighborhoods and other information you need to know before your next move or even the value of your home today.
What if you are a Buyer? Does it make sense to continue renting? What are some solutions to buying in a SHIFTING market? Are Sellers negotiating now that competition is less? The bottom line is let’s connect soon and talk about what is important to you and your situation. Time is money!
By the way, if you want to search our community or specific neighborhoods by zip code, click here and add one of these zip coded (87501, 87505, 87506, 87507, 87508) for a list of current properties and a map. This will give you a sense of what is happening in neighborhoods for inventory and to area home prices.