The Santa Fe real estate market report for the second quarter of 2016 shows current market conditions positive. Santa Fe continues to be a destination market for buyers nation-wide and globally. The historically low mortgage interest rates with buyer demand support positive outlook. The Santa Fe Association of Realtors reports both average and median sale prices remain below 2007 peak prices. This is welcoming news for retiree, investor and second home buyers like the clouds in the sky this morning over Santa Fe.
At the same time, the clouds mirror what we see in the overall trend for 2016 half-year market. While there is a positive shift increase in the 2nd Quarter (Q2) over the 1st Quarter (Q1), the Santa Fe real estate market is flat with 2015. Here are facts:
- City sales jumped in Q2 to 96 million vs $64 million in Q1,
- County sales jumped in Q2 to 105 million vs 81 million in Q1.
- Eldorado subdivision sales jumped in Q2 to 19 million vs 9 million in Q1.
Here are the Q2 over Quarter 2016 vs 2016 comments and stats for homes:
- City $95.6m down -8.6% from 2015 with 229 Sold at $305,000 median price
- County $104.9m down -3.7% from 2015 with 202 Sold at $432,000 median price
- Eldorado $19.1m up +6.8% from 2015 with 48 Sold at $408,000 median price
Here are the Q2 over Quarter 2016 vs 2016 comments and stats for condos:
- City and County total $30.0m Flat from 2015 with 95 Sold at $250,000 median price
Overall the Santa Fe real estate market trends appear stable and flat in comparison to 2015. Our market does not appear to be breaking out of sky high numbers in 2004/2007 when annual sales totaled $1.2 billion. In 2015, real estate sales totaled $837 million.
If you are thinking about selling your Santa Fe property or buying a home here, this market report is positive. The clouds in the sky this morning were steady and moving forward. Why not contact us for more details specific to your selling situation and buyer needs as there are opportunities below the sky in Santa Fe.