Continued Stability
The Santa Fe real estate market closed out the final quarter of 2014 relatively unchanged— continuing the stability it had experienced during the preceding two quarters.
- According to the Santa Fe Association of Realtors, when compared to one year ago, units sold, average days on market and average sales price remained only slightly changed with a slight increase in number of units sold (99).
- As one examines the breakdown of closed sales, a clearer picture emerges showing double-digit or near double-digit percentage increases in four of six price categories, with healthy increases in the $750,000 to $999,999 ranges (+14.15%) and the all-important ranges of $1M to $2M (+8.88%).
- Average days on the market remains relatively stable in most price categories with an impressive decline in days on market found in residences priced above $2M, a reflection of the fact that sellers in this price category were pricing homes more realistically from the point of view of active buyers.
- Seventy-six percent of all Multiple Listing Service recorded sales were under $500,000, a mere two percent decline in that price category from one year ago.
As we enter the first quarter of 2015, it appears that the stability achieved throughout 2014 will continue to be the trend at least for the not-too-distant future.
Click here for the 2014 Fourth 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!
Warmest regards,
