Brought to you by Carol Hamilton Berkshire Hathaway Home Services Santa Fe
We are starting to see some leveling of home pricing…maybe not listing prices as they remain on an upward trend, but selling prices, the actual price a home sells for is leveling out. The outlook is still optimistic for home sellers. Last year at this quarter there were twice as many homes sold with higher prices, and less time on the market and a 98.9% list price to selling price. We are seeing less on the market with a longer time to sell and a lower list to selling price at 97.70%. This is specific to Aldea. Santa Fe County is reporting a 7.4 increase in home prices from last year making the median home price at $429,500.00. A 5.1% increase is reported in the city making a median home price at $370,000.00. The North West quadrant North of 599 is seeing the biggest surge in sales for this quarter.
What the Experts Say
Lawrence Yun the Chief Economist for the National Association of Realtors says:
“Rates of 4% and, in some cases even lower, create extremely attractive conditions for consumers. Buyers, for good reason, are anxious to purchase and lock in at these rates. “Doug Duncan, Chief Economist for Fannie Mae says: “Moderating home price appreciation and attractive mortgage rates continue to support affordability, particularly as home builders are now paying more attention to the entry-level portion of the housing market.”
2nd Quarter Real Estate Stats for Aldea
per SF = Price per square foot — DOM= Days on the market — SP%LP=Selling price % to the listing
If you have any questions about this report or would like the current market value of your home please contact me via email.