Santa Fe Association of Realtors - news release of overall City and County of Santa Fe home sales statistics for the last quarter of 2016 tells the story of another shift in our Santa Fe real estate market and trends which appear to be looking up!
- Home sales increased by 16% with 388 units sold the last quarter of 2016 compared to 336 in the last quarter of 2015. (This increase appears to be continuing as Santa Fe experiences low inventory in 2017).
- The Santa Fe City median home price leaped 13% from $300,250 in the 4th quarter of 2015 to $339,928 in the last quarter of 2016. (If this trend continues more homeowners may decide to put their houses on the market in 2017).
- Santa Fe County revealed a different result. Home prices fell by about 10% in the last quarter of 2016 compared to 2015 or from $449,500 in the 4th quarter of 2015 to $402,500. And at the same time, home sale in Santa Fe County did experience some heat and rose by 20% from the 4th quarter of 2015 to the 4th quarter of 2016.
- Overall, the home sale data reflected a JUMP in both City and Couty total sales increasing from $161.7 Million in the 4th quarter of 2015 to $189.9 Million a the end of the last quarter in 2016.
Remember, numbers and stats are only part of the story about our community and real estate market. In my experience, numbers are only part of the decision as to why someone like you will either decide to sell your Santa Fe home or purchase a primary or 2nd home in Santa Fe. What I do see is that these stats are making people think about real estate again and this is a sign our market beyond the state of recovery we have had for years.
If you are thinking about selling or buying a Santa Fe home, townhome or condo, then let's talk about your next move. It looks like our first quarter 2017 Santa Fe City and Santa Fe County home sale stats are expected to continue these upward trends. Stay tuned and be informed! Why? Our market has low inventory!