Albuquerque and Santa Fe Realtors report a continuing brisk market in real estate.

Albuquerque

"This has really been an incredible year," marvels Realtor Linda DeVlieg. "The number of home resales in the Albuquerque area were recordbreaking again in November: 727 sales (668 Class I and 59 Class II homes)! This is the highest number recorded by the Southwest Multiple Listing Service for November and 22.3 percent higher than the number of resales reported for November 2002 (594). The average interest rate for a 30-year fixed rate mortgage for November 2002 in New Mexico was even lower than the average interest rate for October 2002 in New Mexico (5.76 percent, compared to 6.75 percent in November 2001 and 5.86 percent in October 2002)."

"Albuquerque and Rio Rancho are the #1 and #2 largest cities in New Mexico," say Realtors Archie Saiz and Eddie Costello, "Within the boundaries are bedroom communities providing a slower rural lifestyle adjacent to all the amenities of a metroplex."

Advise the Realtors, "Average days on the market is averaging 75 days, but if you see a good home don't hesitate. Above average homes are moving in 30 days or less.The listing inventory is the lowest in 12 months at aprox. 3697 homes in November."

Santa Fe

"Located in the front range of the Sangre de Cristo mountain range," says Realtor Webb Sherrill, "Santa Fe offers a small town of 70,000 people with cultural activities comparable to a city many times its size. Internationally recognized for its opera and as a major art center, Santa Fe has an ideal climate with four seasons and over 300 days of sunshine."

Says Sherrill, "Santa Fe real estate continues to be vibrant. Demand is strong coupled with a good supply of homes. Santa Fe home sales have grown by 15 percent over last year with sales increases in almost every price segment. The addition of new housing developments around Santa Fe in the past few years has increased competition particularly in the under $500,000 price range making more affordable entry into Santa Fe for retirees The median price increased 7 percent to $238,750. While Santa Fe is still experiencing a drought the end of October brought a considerable rain to the area and snow to the mountains. Real estate investment in Santa Fe is expected to continue to climb providing owners' solid gains."

Agrees Realtor Steve Rizika, "Santa Fe is a major destination to live and to visit. Our strong sense of history, beautiful surroundings, and quality of life draws people from all over the globe. As we head into the new year, not much has changed in a very solid real estate market. The statistics show good inventory in the $500,000 and up ranges, while the average buyer is going to have to be ready to pounce on homes priced below $200,000."