Santa Fe Real Estate: If Not Now, When?

By
Real Estate Broker/Owner with eXp Realty LLC NM Broker License 16161

EmilyMedvec_Realtor_Photography

It is January 2012 and already there are some new signs of life in our local Santa Fe real estate market. It looks like the answer to if not now, when? to buy, might just be now or very soon. After three years of the average home sale price steady at near $400,000, there does appear to be a trend of balance in play. In the last quarter of 2011, there were 22 home sales of over one million. And there were 3 sales of over three million. These were not new record numbers, but they have been a solid pattern. Home sales in the price range of below $150,000 have been consistently above average.

The stable sales in the high price range tell me confidence has returned to the Santa Fe real estate market. A second factor is always the number of homes sold in each quarter. Here again, there is balance and consistency through 2011 with an average of over 425 sales for each quarter. At the same time, our inventory of homes on the market is the lowest now since early 2006. Given the attraction of Santa Fe has not changed, it appears there is still pent up demand for the Santa Fe lifestyle from retiring baby boomers.

If not now, when is the question on every Santa Fe home buyer’s mind who is still sitting on the fence. As supply and demand come back into play in a more balanced market, the inventory of deals and good buys will be reduced. And over time, prices will change too if this is the start of new upward trend. So, if not now, when? is the question today for Santa Fe real estate buyers to answer.

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Our Santa Fe real estate market is a local one. Search All Santa Fe Listings Here and get results in both an easy list or map search. If you want to see a SOLD sign on your property or you want to make a lifestyle change by moving here, call me at 505-660-4541 to schedule a real estate consultation. No one has time or money to waste in this new landscape of real estate online. I am available to help you and make a positive difference in your real estate experience. Remember dreams are made a reality only when you act on them. Emily Medvec

Today, I represent Sellers and Buyers in all price ranges in Santa Fe and throughout northern New Mexico. My focus is to use my experience, vision and strategies to find you opportunities and solutions. My goal is always to save you time and money whether you are selling or buying any type of Santa Fe real estate, including homes, land, town homes, condominiums, ranches and commercial property. Here are recent reviews from my past clients about my know-how and service. Until you are ready to Buy or Sell, let's connect and learn more about each other on Facebook or Twitter

Emily Medvec Copyright 2019 All Rights Reserved 2007-2019

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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Good to hear, Emily. We are seeing this sort of general news in lots of areas, mine included here in SoCal. I hope it is a trend that will continue.

Jeff

Jan 27, 2012 12:26 PM #1
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

We never did hit a slow season this winter. I thought things might taper off after the first of the year, but it hasn't. This is great to see. Higher end properties are still sitting on the market.

Jan 27, 2012 12:32 PM #2
Rainer
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Marge Piwowarski
Phoenix AZ Horse Property - Phoenix, AZ
Phoenix AZ Horse Property, LLC

Sounds like good news for not only Santa Fe but for all of us! 

Jan 27, 2012 12:38 PM #3
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982,170
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Emily, real estate recovery is on the way, number of units sold have been increased and home prices are inching up in our area. After reading your post it seems like it is happening in your area too.

Jan 27, 2012 02:08 PM #5
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Emily Medvec
eXp Realty LLC - Santa Fe, NM
Realtor | Serving Santa Fe & Northern NM

Jeff, stability beats volatility. From the inquires we are getting here from SoCal it does appear the stability is beginning to take hold in different local markets.

Debbie, for our team, nothing has been slow. We are also seeing new interest in land. Today, we showed property to a spec builder. Something has shifted. It is all about balanced market now.

Marge, agree. Patterns turn into trends when confidence returns. Each market is different, but confidence makes a difference in every one.

Kwee, balance and a stable market will be the best recovery for the short term. Glad to hear your FL market is showing signs of recovery too.

Jan 27, 2012 02:53 PM #6
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Sue Ellett
Coldwell Banker Realty - Austin, TX
Austin, TX, Lake Travis, Dripping Springs

Excellent News!  Of course a little spike in interest rates will get a lot of people off the fence, too!

Jan 28, 2012 01:08 AM #7
Rainmaker
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DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Emily,

Glad to see things are picking up in your market.  We are seeing signs of hope here in our area as well.  At least that things have leveled off.  Not a lot of inventory here either so some of the great deals cost a little more these days!

Great post!!!

Jan 28, 2012 04:27 AM #8
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Emily Medvec

Realtor | Serving Santa Fe & Northern NM
Emily Medvec Sells Santa Fe Real Estate! Call/Text 505-660-4541
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