When you speak with any of our brokers, they will tell you they have never been busier and that there’s never been more of a desire to own property in and around Santa Fe. It is not unusual in this strong sellers’ market to experience multiple offers shortly after a property appears on the MLS. Buyers are encouraged to come prepared to make well informed decisions and to move quickly once they find the property that most appeals to their desires.
According to our local MLS, 2020’s fast-paced market continued to gain momentum through the first quarter of 2021 resulting in a 17% increase in average sales price, to $581K, and a 16.8% increase in total units sold. Also notable is that available inventory decreased a dramatic 51% from one year ago. Just as dramatic has been the notable increase in sales in the $1M-$2M price category, from 40 homes in Q1 2020 to 78 homes in Q1 2021, an increase of 95% year over year. In addition, sales of homes $2M+ increased a staggering 143%, from seven in Q1 2020 to 17 in Q1 2021.
While our market is brisk and shows signs of continued buyer demand, Santa Fe remains one of the best priced destination markets in the Southwest.
Click here for the First Quarter 2021 Market Update
As always, my goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market. I hope you find it to be a valuable resource, and I look forward to working with you to meet your real estate needs now and in the future. If you have any questions about the Santa Fe market, please do not hesitate to reach out to me.