I am pleased to provide you with the Santa Fe real estate market report for the second quarter of 2016. As you will see from the graphs in the link below to the Second Quarter 2016 Market Update, current market conditions remain positive, no doubt supported by the continuation of historically low interest rates combined with the fact that Santa Fe remains a well-priced, attractive destination market for buyers.
- According to The Santa Fe Association of Realtors MLS, both median and average sales prices, while showing modest increases from one year ago, remain, nonetheless, below peak prices achieved in 2007, allowing the Santa Fe market to remain attractive to buyers from a number of other higher priced markets.
- Total units sales remained stable while sales in the $250,000 to $499,999 and $1M to $2M price bands increased rather significantly, 17% and 20% respectively.
- Listing inventory, an important indicator of market conditions, declined in all price categories with the exception of $1M and above, which recorded a moderate increase of 3.7%, making the second quarter of 2016 the third consecutive year of gradual quarterly inventory contractions.
The market trends achieved in the first two quarters of 2016 appear indicative of a stable, healthy environment for both buyers and sellers. As we enter an exhilarating summer season of world renowned opera performances, art markets, and cultural festivals, we invite those of you who haven’t already made plans for a summer visit to do so now. We are looking forward to welcoming you to all we have to offer in the City Different.
Click here for the Second Quarter 2016 Market Update 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!