Santa Fe Association of Realtors - news release Santa Fe home sales statistics for the lst Quarter of 2017 show UPWARD shift in our Santa Fe real estate market and trends which appear to be heating up in some areas and flying off the MLS in others. The bottom line is the lst Quarter 2017 takes off with the upward shift in both sales and prices. In fact, the market continues to have a record low number of inventory homes looking back for the past 10 years!
- Total Santa Fe home sales increased by 16% with 458 units sold this quarter compared to 395 units sold in the lst Quarter of 2016.
- City of Santa Fe home sales increased by 26% with 196 units sold this quarter compared to 155 units in the lst Quarter of 2016.
- Santa Fe County continued to reveal a different result. Home prices fell by 8% this quarter compared to 2016 or from $434,250 in the lst Quarter of 2016 to #399,900 in the lst Quarter of 2017.
- Condos and townhome sales are showing some heat. The median price of condos and townhomes rose by 7% from $210,000 in the lst Quarter of 2016 to $225,000 in the lst Quarter of 2017. Total sales of condos and townhomes jumped by 15% in the lst Quarter of 2017 for a total of 100 units sold compared to 87 units in the lst Quarter of 2016.
- New Inventory remains at a historic low with only 1,461 homes on the market in the lst Quarter of 2017. This continues to make Santa Fe property owners optimistic as we move into the 2nd quart
- Overall, the home sale data reflected another JUMP in the volume of both city and county home sales increased fro $146.5M in the lst Quarter of 2016 to $168.9M this quarter.
What I see in these numbers is people are buying more than thinking about Santa Fe real estate again. This is a sign our market is beyond the period of "recovery" we have experienced for years. If you are thinking about selling you property or purchasing a primary or 2nd home, let's talk. Afterall, if not now, when?