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SANTA FE REAL ESTATE MARKET UPDATE — JUNE 21, 2010

Since January, we’ve enjoyed a steady increase each month (over 2009) in showings, pending sales, and closings.  All this activity resulted in sales totaling 138 in May.  This figure represents the largest single monthly total since November 2007 (146) which means that the May 2010 total was larger than any of the past 29 months

Contrasted to the above, we have shifted gears somewhat in the past few weeks.  Showing activity dropped about 9% in May and has remained relatively slow these first few weeks of June.  Some wonder if this is a harbinger of a reversing market trend, or, simply a reflection that early summer is often slow until the summer really gets rolling with The Santa Fe Opera, Santa Fe Chamber Music, Indian Market, and International Folk Market.  

I am in the camp that believes the market is pausing and that Santa Fe’s traditionally strong selling season between July- October will do just fine this summer.  I know I have already seen a pick up in showing activity and calls the past week!

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