Here we are, over half way through 2009. Doesn't seem possible, but the flowers are all blooming, the snow is completely gone from the mountain peaks and bike riders and hikers are everywhere.
Real estate is alive and well, but still on the slow side in Santa Fe and the nearby communities including Eldorado and Las Campanas, La Cienega and Tesuque.
In 2008, 634 properties had sold by June 30. And, we're including all residential properties in these numbers . . . single family, mobile homes, duplexes, etc. This year during that same time frame 458 properties have closed. That's a drop of 28%.
The average sales price dropped as well from $529,811 in 2008 to $473,014 in 2009, an 11% drop. However, the average price per square foot actually increased from $210 per square foot in 2008 to $246 per square foot in 2009.
As is the case in any market, the homes in the best condition and well priced sell and those that have been neglected and over priced sit on the market. There is a lot of inventory out there and, as you can see, the number of buyers is off, so it's a great time to buy.
Interest rates are bouncing around between 4.5% and 5.5% on any given day, so it pays to keep watch with a friendly loan officer and lock when rates get around 5% or a little under. But, you can't lock if you haven't chosen a property and made loan application.
We're ready, willing and able to find those best and brightest listings in the current inventory that suit you and your family best. So give a call (505-690-8373 cell) or drop an email sandrawrightpage@gmail.com and we'll get started on finding that perfect house at the perfect price with a great loan designed for you!
ZIP Codes: 87501, 87502, 87505, 87506, 87574 Approximate Location Boundaries: Within the bounds of the City of Santa Fe and nearby outlying areas
Location Characteristics: State capitol of New Mexico sited at the base of the southern end of the Rocky Mountains at 7,000 ft elevation. Great four-season weather, over 300 days of sunshine a year, snow skiing available in several nearby locations, many art galleries, performing arts spaces including the reknowned Santa Fe Opera, adobe architecture and thriving tri-cultural population.
About Sandra Wright Page:
Vince and Sandra specialize in properties, both land and residential, from Santa Fe north to Taos and all the communities and villages inbetween. If you want a condo in Santa Fe, a cabin in Truchas, a family home in Espanola, a farm in Velarde or an old adobe in Taos County . . . give them a call today!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
