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More Encouraging News for Santa Fe, NM Housing Market

Sales Up. Days on Market Down.

The Santa Fe Association of Realtors released its multiple listing service data for the first quarter of 2012, and the statistics indicate that our market seems to be stabilizing nicely. The attached chart shows the first quarter comparisons from the past few years for residential sales in the Santa Fe, NM area. Houses sold in 2012 are up over 12% from 2011, and the average days on the market are the lowest in the first quarter than they have been in the last four years.

 

These figures coincide with the information I provided in my Feb 10, 2012 post on absorption rates. This trend in 2012 of less time on the market and increased sales will most likely continue during the busier spring and summer quarters. This is encouraging news for sellers, especially potential sellers who may be undecided about putting their house on the market. The opportunity for a quicker sale may be the deciding factor in planting the “For Sale” sign in their front yard. Buyers can also benefit from the prospect of more homes being added to the market inventory with sound list prices, giving them a greater variety of buying options.

 

If you have questions, or are thinking of starting the home buying or selling process, contact me for more information about current market conditions in your Santa Fe area neighborhood.

 

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