by Jerome Leyba
on Wednesday, February 2nd, 2022 at 3:53pm.
As we come into the final week of the new year we have seen an adjustment in the rates, but no hint of a decrease in pricing. This could be chalked up to the lack of inventory. I have been telling clients we normally complain when there is 400- 500 homes on the market. Closing out the Week of the 27th we are down to to 159 homes, which is an increase of more then 10% from last weeks home inventory. It is also important to keep in mind this report takes the entire Santa Fe County into consideration. So we are including a lot of the surrounding Santa Fe areas.
Another key factor to take into consideration is the median sales price which came in higher then the average, at $612,500. This tells us the majority of the sales were on the higher side of the market. The lack of inventory can be a challenge for buyers, but there are sill opportunities to be found. There are new pieces of construction that are under $500,00. We solidified 4 contracts this week for clients under $500,000. There are three two new subdivisions available for purchase. Please contact us for more information.