Santa Fe's local Realtors say it is a world class city, a small town with big city amenities.
Realtor Steve Rizika notes, "Recent local political developments will have the most effect on our real estate market as we wind up the summer season. The city council would like to mandate that new developments contain 30 percent subsidized housing to those folks making a certain percentage of the median income. A noble goal that has widespread support in theory if not practice. In "real life" this will have two major effects. First of all, development will slow within the city limits already taxing a short supply. This means more price increases and tighter inventory. Secondly, there will be a renewed vigor outside of Santa Fe city limits."
Says Realtor Susan Orth of the Sante Fe market, "For the month of August 2005 there were 318 new Residential Properties listed with prices ranging from $132,000 to $3,850,000. Fifty-five of these homes are already under contract with an offer pending. Thirty-seven new listings this month are new construction properties. 242 Santa Fe County Residential Properties were sold and the sold prices ranged from $95,000 to $2,250,000. And 15 sales were reported at over one million dollars, with 35 new listings on the market priced at over one million dollars."
Realtor Aysha Griffin says, "Santa Fe is a friendly, culturally diverse and exciting small city which attracts visitors and residents from around the world. A mild and dry 4-season climate, 300-plus days of sunshine, unlimited outdoor recreational opportunities and clean air make it among the top-named cities for healthy living. Our pueblo-style architecture, renowned cultural events and world-class art are among the many reasons Santa Fe is a great place not only to visit but to relocate or invest in vacation property."
She continues, "Santa Fe is a diverse city with a wide variety of options for the home or land buyer or investor: New family or empty-nester homes in the southwest start in the low 200K's, while a house "in town" can rarely be found under $400K. Condos are increasingly popular starting in the mid $100K's, although it is more realistic to plan on at least $200K to get any options. There is a big difference in price often from street to street, if not from house to house. Having a buyer's agent who understands your tastes, needs and budget is critical to streamlining the buying process here. Houses under our median price (approx. $385K) tend to go quickly and there is a need to "act fast", especially for "close-in" properties (meaning: more or less within walking distance to the historic Santa Fe Plaza)."
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Published: October 3, 2005
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