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Santa Fe, NM – Market Insights – Fall 2010

Driving home on a recent (and rare) gray day, my eyes were drawn to vibrant splashes of orange and yellow aspen trees here and there between dark evergreens and gray sky.

Somewhat like those glowing aspens, Santa Fe’s real estate market at the end of the 3rd quarter shows a few bright spots while a fair amount of gray remains.

On the bright side:

There has been a 17% increase in sales year-to-date over 2009.

The bulk of the increase has been in properties priced $500,000 and below due to the first-time home buyer credit as well as record low interest rates.

The number of units sold in the North West sector as well as the Historic Eastside is close to surpassing the number sold for all of 2009.

Activity in showings and sales activity has picked-up nicely since Labor Day after a sluggish summer.

Motivated sellers and low interest rates have produced an incredible buying opportunity.  As is typical for this time of year, serious buyers are in town and have been jumping on fantastic values.  Continue reading here…

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