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Market Conditions for Aldea de Santa Fe in Sante Fe, New Mexico
Reported by Peter Kahn, CRS, CDPE, RSPS, SRES
Updated January 6, 2012.
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Current Market Rating: 2
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Buyer's
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Current Price Trend: 2
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Falling
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This newer planned community is currently (1.1.12) a strong buyer's market with no homes being purchased in December. The inventory however, is reduced drastically to only ten homes for sale and one of those is a town home listed as a short sale.
Prices have declined by about 9% from the original asking price and with the limited inventory, this area may be poised for a rebound in values.
Buyers continue to acquire the bank owned and short sale properties with those properties presenting real value.
This neighborhood, just 8 miles from the Plaza, offers excellent long term rental opportunities.
Average days on market for the active properties is lengthening and approaches one year.
For 2011 activity slowed significantly with only 35 homes coming on the market, compared to 2010's 60. Of the 35, twelve sold. Days on market for those listed and sold in 2011 averaged 228.
ZIP Code: 87507
Location Characteristics: This is a relatively new (6 years old) planned community close to downtown Santa Fe. Most of the homes are clustered on small, low maintenance parcels and the subdivison offers walking trails and large areas of open space. Extensive views of mountain ranges both east and west are available from many of the homes.
Aldea was home to a small Indian Pueblo and later a Spanish Colonial structure. On this land, rich in tri-cultural history, fourteen local families committed 345 pristine acres of land to a vision of a traditional, pedestrian-friendly village with a central plaza. World renowned designer and planner Andres Duany was engaged to utilize neo-traditional planning concepts to create Aldea de Santa Fe. His design integrates individual neighborhoods with picturesque parks and large open space preserves connected by trails and walkways. The village features a variety of distinct housing types. As Aldea Plaza grows, it will provide convenient commercial and retail services.
For More Information:
View Market Conditions of other areas served by Peter Kahn
Navigate: Top > New Mexico > Sante Fe > Aldea de Santa Fe
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
