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Should I Sell My Santa Fe NM Home In 2022?

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

There’s no denying the housing market is undergoing a SHIFT this season as buyer demand slows and the number of homes for sale grows. Actually this gives you some unique benefits when you sell. Here’s a look at the key opportunities you have if you list your house this fall.

Opportunity #1: You Have More Options for Your Move

One of the biggest stories today is the growing supply of homes for sale. Housing inventory has been increasing since the start of the year, primarily because higher mortgage rates helped cool off the peak frenzy of buyer demand. But what you may not realize is, that actually could benefit you.

If you’re selling your house to make a move, it means you’ll have more options for your own home search. That gives you an even better chance to find a home that checks all of your boxes. So, if you’ve put off selling because you were worried about being able to find somewhere to go, know your options have improved.

Opportunity #2: The Number of Homes on the Market Is Still Low

Just remember, while data shows the number of homes for sale has increased this year, housing supply is still firmly in sellers’ market territory. To be in a balanced market where there are enough homes available to meet the pace of buyer demand, there would need to be a six months’ supply of homes. According to the latest report from the National Association of Realtors (NAR), in July, there was only a 3.3 months’ supply.

While you’ll have more options for your own home search, inventory is still low, and that means your home will still be in demand if you price it right. That’s why the most recent data from NAR also shows the average home sold in July still saw multiple offers and sold in as little as 14 days.

Opportunity #3: Your Equity Has Grown by Record Amounts

The home price appreciation the market saw over the past few years has likely given your equity (and your net worth) a considerable boost. Danielle Hale, Chief Economist at realtor.comexplains:

“Home owners trying to decide if now is the time to list their home for sale are still in a good position in many markets across the country as a decade of rising home prices gives them a substantial equity cushion . . .” 

If you’ve been holding off on selling because you’re worried about how rising prices will impact your next home search, rest assured your equity can help. It may be just what you need to cover a large portion (if not all) of the down payment on your next home.

Bottom Line

If you’re thinking about selling your house this season, let’s connect so you have the expert insights you need to make the best possible move today. Better yet, make getting your home value the next step. Click here for a range of your home's worth. Get the facts so you can make a plan!

Posted by

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 your real estate consultation. No one has time or money to waste in this new landscape of real estate online without an experienced broker working for you. I am available to 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 Sell or Buy Santa Fe real estate, why not dip into my site and learn more about Santa Fe. Or let's connect now or certainly learn more about each other on Linkedin or Facebook or Twitter

Emily Medvec Copyright  All Rights Reserved 2007-2023

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Hi,

Enjoyed your blog page, and I added you as a friend. I would love the follow back. Thanks Bill

Sep 26, 2022 01:06 PM
Emily Medvec

Bill, already did! Thank you!

Sep 27, 2022 03:59 PM
Emily Medvec
eXp Realty LLC - Santa Fe, NM
Broker | Realtor | Serving Santa Fe & Northern NM

Hey Bill Salvadore, thanks for the comment, we should be doing referral business given our locations! 

Sep 26, 2022 01:13 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I just had 39 showings in just four days on a new listing. You do have to put it on the market if you’re serious about selling here or Santa Fe Emily Medvec 

Sep 26, 2022 04:44 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

It has been ages since we connected hope all is well with you, Endre

Sep 26, 2022 10:06 PM
Roy Kelley
Retired - Gaithersburg, MD

This is good information to share with prospective home sellers.

Have a productive autumn.

Sep 27, 2022 09:19 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Emily, hope you are doing well, and so nice to see you back in the Rain.   Our inventory is way up from March, how's yours doing?

Sep 27, 2022 10:56 AM
Emily Medvec

Nothing like LOW inventory moving us into a serious SHIFT. We are sitting with around 350 homes on the market in Santa Fe city and county, give or take a few each week! Unbelievable!

Oct 03, 2022 06:31 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good evening Emily Medvec ,

Really great to see you back posting in the Rain. Great post to answer if you should sell your home in Santa Fe. All reasons to make the case to get your home on the market!

Sep 27, 2022 07:54 PM
Emily Medvec

Thank you Dorie Dillard Austin TX sometimes too much life happens. Back and here to stay. Missed you. 

Oct 03, 2022 06:32 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Emily Medvec Love all three of your opportunities and am glad to see you back blogging. Would love for you to join us on Tuesdays for our weekly AR Zoom.

Sep 28, 2022 06:05 AM
Emily Medvec

Margaret Rome Baltimore 410-530-2400 I will as soon as I learn when and where and how to zoom with you all! Thanks for the welcome.

Oct 03, 2022 06:33 AM
Jeff&Grace Safrin
F.C.Tucker 1st Team Real Estate - Valparaiso, IN
SpousesSellingHousesTM

Great info Emily! We hope to visit Santa Fe NM someday, it's on our list of places to see!

Have a great fall selling season!

Sincerely,

Grace

Sep 28, 2022 12:44 PM
Emily Medvec

Great! Let me know as it would be awesome to meet. BTW I consistently help other Hooziers relocate here so Jeff&Grace Safrin we should be doing referrals.

Oct 03, 2022 06:35 AM