Santa Fe Real Estate Market Update 3/28/21
Another week in the books! Rates did have an uptick again, and we expect to see them go up consistently, but they are overall statically low. We have seen an uptick with out-of-state clients finding quality properties in and around the Santa Fe area. Inventory has been low, and pricing is still being affected by the lack of inventory. Current clients have found success with off-market properties, still in construction, and other homes that have fallen out of contact.
Most of our clients have had to act fast and make quick decisions on properties once they come to market. Some homes are allowing a full week for offers to allow all interested buyers to have an opportunity to make a purchase. These usually work more in the seller’s favor than interested buyers. We have seen strategic underpricing as well on properties to try and drive more interest. With these factors in place, we have had to be very strategic in presenting offers to entice sellers. For more details on how to prepare for your Santa Fe Home purchase, feel free to contact us!
