In the third quarter of 2015, residential sales in Santa Fe continued at a relatively steady pace.
- According to the Santa Fe Association of Realtors Multiple Listing Service, recorded sales in all but one price band increased – with a healthy and welcome uptick of 14.29% in the $1 million to $2 million price range.
- Average days on market declined slightly in all but one price band.
- Although sales were steady, both average and median prices continued their slight downward trend; a good sign for those buyers wishing to enter the market before prices begin to rise. This trend may be nearing an end since listing inventory across the board showed double-digit declines in all but one price category – certainly a call to action for those buyers on the sidelines.
Sotheby’s International Realty ended the third quarter of 2015 by closing the significant sale of Forked Lightning Ranch, formerly owned by Jane Fonda, which had been listed at $19.5 million.
Click here for the Third Quarter 2015 Market Update Report report.
My hope is that you find this update helpful and informative, with links to articles and market trends. If you are in the market to buy or sell or know someone who is, please allow me to be of assistance!