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Home Prices Rise Steadily Last Year

Tuesday, January 3, 2017
by Susan Orth

A new report from the national Association of Realtors showed that there’s a direct relationship between low inventory of homes in Santa Fe and rising prices.

We all know about supply and demand. As the supply for an item that’s in high demand goes down, the prices go up. As such, the price of homes in Santa Fe has been gradually increasing over the past year.

Nationwide, this was also the case, as the median price of homes sold in November was $234,900, which is an increase of 6.85 from last year.

But this is good news! Now home owners are able to sell at higher prices and move into their dream home, or downsize as the case may be.

This all means that now is the time to either buy or sell your home in Santa Fe. You should buy now before prices continue to increase.  You should sell now because you’ll get a good selling price compared to last year. Contact us today to see how we can help you get the best price, whether you're buying or selling your home in Santa Fe.

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Santa Fe Home Buying Market is Picking Up

Monday, July 16, 2012
by Susan Orth

If you are thinking about buying a home in the Santa Fe area, but are concerned about the real estate and home buying markets (and who wouldn’t be after watching the national news for the last few years?), you can study the real estate section of the newspaper and visit some open houses with renewed vigor, encouraged by the knowledge that the home buying market in Santa Fe is sliding back into a positive groove.

While the real estate industry is known for sometimes taking an overly rosy view, the data really do tell us some good things. A detailed report issued by the National Association of Realtors (NAR) in June said that May’s pending home sales matched the highest mark in the last 24 months. According to NAR, yearly and monthly gains were reached in each region of the country, and the price tag for existing homes (as opposed to new construction) nationwide is predicted to jump 3 percent this year and perhaps an additional 5.7 percent in 2013.

NAR’s economist brain wizards, however, indicate that evaporating inventory is negatively impacting unit sales. They suggest that if the credit climate snapped back to normal and more inventory was available, specifically in low to middle price ranges, even more contracts would be successfully completed. In layman’s terms, supply cannot meet the demand in the housing market at this time.

The unbiased real estate website, Trulia, supplies us with some detailed information specifically focused on the Santa Fe area. Here are some pertinent numbers for you to crunch concerning the three-month stretch from January to March 2012:

  • Median home sales price: $259,250, a 9% ($25,750) decrease from the same time frame last year
  • The number of home sales decreased by 56.2% from the same time frame last year
  • Average home listing price: $702,420 in the week of June 20, a 0.4% (about $2,630) decline from the previous week

While the real estate market certainly can’t be described as roaring, it’s good to hear good news when it happens.

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Contact Information

Susan Orth
City Different Realty
518 Old Santa Fe Trail #190
Santa Fe NM 87505
505-216-6688
505-216-6688
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