Stable Market – A Welcome Sign
During the third quarter of 2014, the real estate market in Santa Fe positioned itself as relatively stable with median prices showing a slight decline and average prices reflecting an ever-so-slight increase, according to the Santa Fe Association of Realtors.
- 77 percent of sales in the market remain under $500,000 while sales at or above that mark remain static as well.
- Average days on market in the upper end of the market ($1M and above) declined rather dramatically even as inventory in the same price ranges increased by more than 12 percent from one year ago.
As the final quarter of 2014 approaches, the catch word to describe the current local real estate market appears to be “stable,” a welcome sign as we prepare to enter the final stretch of the year.
Click here for the 2014 Third Quarter 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!