Market Report Final Week Of The new Year
As we come into the final week of the new year we have seen an adjustment in the rates, but no hint of a decrease in pricing. This could be chalked up to the lack of inventory. I have been telling clients we normally complain when there is 400- 500 homes on the market. Closing out the Week of the 27th we are down to to 159 homes, which is an increase of more then 10% from last weeks home inventory. It is also important to keep in mind this report takes the entire Santa Fe County into consideration. So we are including a lot of the surrounding Santa Fe areas.
Another key factor to take into consideration is the median sales price which came in higher then the average, at $612,500. This tells us the majority of the sales were on the higher side of the market. The lack of inventory can be a challenge for buyers, but there are sill opportunities to be found. There are new pieces of construction that are under $500,00. We solidified 4 contracts this week for clients under $500,000. There are three two new subdivisions available for purchase. Please contact us for more information.
