The Santa Fe Real Estate Market continues on in a steady fashion. This summer, the number of sales is tracking almost the same as last summer. The most encouraging statistic for sellers is the reduction of inventory. Residential units have decreased in volume by a bit more than 15% when comparing September 2011 with September 2010. Due to wildfires in the area, July was extremely smokey, closings in August were down. However, August was a good month for pendings with a total of 141 new contracts. September experienced 122 closings and 110 new pendings. For the first time this year, the median selling price dipped below $300,000 at $287,000 for September. Foreclosure properties for sale represent about 5% of the total market. More recently developed subdivisions seem to be more afflicted by this problem than older established areas.
ZIP Codes: 87501, 87505, 87506, 87507, 87508 Location Characteristics: Santa Fe, New Mexico has always been known for its natural beauty, multicultural character, and significant art scene. Over the years, the natural beauty has remained intact: both the Jemez and Sangre de Cristo mountains offer opportunities to experience this beauty. Recently the Valles Caldera has opened to the public and this unique area is not to be missed. Whether you enjoy the mountains through hiking, biking, or skiing, you'll find just the right experience for you. Santa Fe has a rich cultural history with both Spanish and Native American influences. There are eight northern pueblos to visit whether shopping for Native American crafts or to absorb the history. Santa Fe is also home to several Art Markets in the summer, including the Indian Market in August, The International Folk Art Market, and the Spanish Market. Santa Fe is also a premier distination for those seeking a second home or for those ready for retirement. Abundant volunteer organizations and non-profits make it easy for a newcomer to make many friends and acquaintances. A drive up Canyon Road reveals just some of the Art Galleries in Santa Fe, now the second largest art market in the United States. Santa Fe offers a relaxed atmosphere and opportunities to engage in a variety of activities. There is something for everybody.
About Suzanne Brandt:
I have over sixteen years experience working the Santa Fe Real Estate Market. I pride myself on recognizing my customer's goals and needs and then doing everything possible to meet those needs and goals.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
