March 2021 RSS Feed

Another week in the books! Rates did have an uptick again, and we expect to see them go up consistently, but they are overall statically low. We have seen an uptick with out-of-state clients finding quality properties in and around the Santa Fe area. Inventory has been low, and pricing is still being affected by the lack of inventory. Current clients have found success with off-market properties, still in construction, and other homes that have fallen out of contact. 

Most of our clients have had to act fast and make quick decisions on properties once they come to market. Some homes are allowing a full week for offers to allow all interested buyers to have an opportunity to make a purchase. These usually work more in the seller's favor than…

Santa Fe market report update. Another consistent week of low inventory. There is a total of 247 homes currently on the Santa Fe market. There was a total of 37 sales that took place this week. The median price point for sales was $439,000. Rates have stayed relatively consistent but are still a bit up from what they were. Some of our clients in the last month were locking in 2.7% on their interest rates. Right now 3.09% is the current rate with solid credit scores. 

There are opportunities in new builds that are currently not on the market. Many of our clients have been able to solidify contracts with new inventory. The current homes on the market are still moving within two weeks of the contract dates of being placed on the market. Anything…

Another week of low inventory. The trend has been consistent. We have had low inventory for several weeks now, and we’re hopeful it will pick up. In order to do so, we need more houses is listed. There are still opportunities to find good quality homes. Some outside-the-box features are new construction. Locking in an opportunity that may be not on the market yet. Interest rates have stayed consistent for two weeks at 3%. Closings are down from last week by 20%. The average price point was higher and has stayed consistent with increases. We had four closings this past week, featuring the Nava Ade Neighborhood in Santa Fe New Mexico. The new price per square foot set in the neighborhood. We are hopeful to see more inventory come to market. Interested in…