Presented by the Santa Fe Association of REALTORS®
2nd Quarter 2008 SANTA FE PRICES DECLINE OVERALL AS SALES REMAIN SLOW IN MOST AREAS
The overall median price of a home or condo in the City and County of Santa Fe declined in the 2nd Quarter of 2008 compared to similar 2007 home sales data. Price reductions occurred in a number of market areas of the City and County though several Northern areas actually showed an increase in median price. The median price of condominiums and townhomes also declined; however, unit sales remained steady. "homes are selling at a slower rate than last year but condo sales increased in the 2nd Quarter 2008 (92) compared to the 1st Quarter 2008 (61) helping to keep sales nearly on pace with last year."
Looking at the comparative data, the median sales price of a home in the City of Santa Fe declined from $403,000 in the 2nd Quarter 2007, to $344,000 in 2008 or a 15% overall decline in value. Home sales in the City also slowed from 204 in the 2nd Quarter 2007 to 116 homes sold in the same quarter of 2008. The median price of City and County sales combined declined from $450,000 in the 2nd Quarter of 2007 to $412,500 for the similar 2008 quarter.
Condo and Townhome sales were nearly steady at 103 in the 2nd Quarter of 2007 to 92 units sold in the 2nd Quarter of 2008. During the same period, the median sales price for condo's and townhomes declined from $308,605 to $266,250, total City/County.
ZIP Code: 87505 Location Characteristics: Just minutes north of downtown Santa Fe, Tesuque is known for its lush green acreage with massive cottonwoods shading the village streets. Two restaurants and a small grocery store welcome you to sit outside and enjoy your lunch/dinner on the patio. Homes with higher prices right in the village. There are many areas in Tesuque with wonderful views and emerald green meadows. It's a quiet, wonderful life in Tesuque.
About Darlene L. Streit:
I have been a resident of Santa Fe since 1990 and I know and love this city well. Born in Toronto Canada, my life has involved much travel and many studies around the world, including a BA in Economics and studies at Sotheby’s in London and New York. After traveling abroad for many years, I chose to make my home in Santa Fe.
Since the early 90’s I have been actively involved in the Santa Fe Real Estate market. As a partner in one of the most successful villages in Santa Fe (a 476 lot neo traditional neighborhood village and plaza called Aldea de Santa Fe, AldeaSantaFe.com), I understand what makes a good investment in Santa Fe. I have helped many individuals, families and investors purchase property or relocate to the magically wonderful “city different” Santa Fe. I have remodeled many houses very successfully and have helped many satisfied clients find homes that they love.
I also have a passion for interiors and textiles so I know how to create value in a home and what can be a good buy. I would love to help you find your dream in the land of enchantment. Our web site is www.SantaFeRealtyPartners.com. Please call me to see how I can best serve you. Thank you for taking your time to read about how I can help you. Darlene
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
