The history of Santa Fe residential real estate is full of success and a little bit of failure. Overall we have a stable and healthy market here. Thankfully we have never had runaway appreciation (only to lose that paper value later), while we do have a steady and consistent growth trend line.
Lot sales continue to be flat. There is no speculative buying in lot sales as very few new home starts are going on to cause demand for available lots for sale.
Our average sales price dropped a bit because the most active segment was the
lowest price ranges. In higher ranges the unit sales count went up slightly.
Likely the most interesting number is that overall inventory of homes for sale is at the lowest measured level in well over 10 years.
By Alan Ball