Should I sell my Santa Fe home this year? The real estate market says an absolute “yes” because there are not enough homes and condos to meet today’s buyer demand for Santa Fe, NM and our Santa Fe lifestyle. Our Santa Fe record low inventory is not even close to all the properties needed for a more balanced real estate market. Right now there still appears to be a backlog of buyers who have discovered they can Work From Anywhere (WFA) and Santa Fe is on their bucket list. The record high mortgage interest rates continue add turbulence to the market for both buyers and sellers too. And now, the Santa Fe City Council added a 3% transfer tax on property sold for over one million. Given these variables, people are still selling and buying in Santa Fe today. For example, the activity for the past week (Aug 30, 2023) in our Santa Fe MLS showed 53 new listings and 62 pending and 66 closed! This means 128 sellers are benefiting from the market you may think can not benefit you. Perhaps, you may want to rethink your situation.
Now, your answer may be closer to “it depends” on what is important to you. Are you tired of maintaining a house and now as want to a more lock-and-go condo? Now that the pandemic has subsided, do you want to travel to more places than your Santa Fe 2nd home? Or do you want to build your dream home and sell when your dream is ready to move in? Or are you stuck and want to simply discuss options and learn more?
Today, the Santa Fe housing market remains a Sellers’ market giving you incredible opportunity to negotiate the best contract including price and terms unlike Sellers’ markets of nearly a decade ago. Even if you are only leaning toward a move, let’s connect and explore options that work for you in our incredible Santa Fe real estate market.
Why not learn more? Call or text Emily Medvec at 505-660-4541. I am available to help you be informed about your next move with more options on the table to consider. Better yet, why not begin with an online estimated value of your home’s worth? Click here for a bench mark value for your property so you can plan for the future. Or if you are thinking about downsizing or just curious about what homes are on the market today in Santa Fe, you can search here for all current active properties in Santa Fe and nearby communties. Thank you for reading. Emily Medvec