SANTA FE REAL ESTATE MARKET UPDATE
1ST QUARTER-2018: The resurgence of Santa Fe Real Estate
Highlights: Our market continued to move at a robust and healthy pace throughout the first quarter of 2018. Santa Fe is being revitalized not only with the brisk movement of Re-Sale Homes, but also with a much-needed invigoration of New Homes! I say Yay!
Total residential sales of single-family homes, townhomes and condos in Santa Fe County rose by 16% over the same period last year, according to the Santa Fe Association of Realtors MLS. Median prices of residential sales rose by 7% while the average selling price rose by 5% to $422K.
The first quarter also resulted in a significant decrease in days on market in all price categories with the exception of homes priced from $2M and above. Inventories of existing residential housing decreased to their lowest level in the last three years in all price categories with the exception of homes priced from $2M and above which remained relatively flat.
As always, our goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market.
We hope you find it to be a valuable resource, and we look forward to working with you to meet your real estate needs now and in the future.
If you have any questions about the Santa Fe market, please contact us!