The number of homes sold in Santa Fe rose for the sixth consecutive year in 2015. Our real estate market continues to get better, though we are yet to see the drastic improvement other parts of the country have seen. Traditionally, Santa Fe’s market is approximately two years behind leading markets.
It is getting stronger for sellers, though currently it is still a Buyer’s market. Santa Fe’s real estate market in 2016 is expected to continue a slow growth with the number of home sales increasing and a slight increase in prices. There is a better chance now to sell than since the economic downturn, and it is still a wonderful market if you’re looking to purchase.
Please call me today if you are interested in buying or selling a home in beautiful Santa Fe!
Market Snapshot: Home Sales Santa Fe Area
|Dec. 2015||Nov. 2015||Dec. 2014|
|# Homes For Sale||1439||1592||1752|
|# Under Contract||325||369||211|
|# Sold In Market||191||138||178|
|Months Of Inventory||9.6||9.7||10.9|
|Odds Of Selling||19.3%||19.8%||11.5%|
|Avg. Days On Market||147||157||180|
Good news for sellers. As prices continue to go up and inventory goes down, properly priced homes will be snatched up in 2016.
Commercial real estate is coming back with a vengeance. 2015 was a great year for New Mexico commercial real estate with sales surpassing pre-recession numbers. The trend is looking good for 2016.
Are you considering purchasing a new home? Purchasing early in 2016 could save you thousands over the term of your loan with interest rates expected to rise over a point in the coming months.