With record low mortgage interest rates and competitively-priced homes, I'm sure there are many renters penciling out the advantages of home ownership.
Santa Fe, NM (PRWEB) February 17, 2012
The most recent Homes.org market report provides analysis on the health of the Santa Fe real estate market based on 2011 Q4 sales reports and insight from local professionals. The report is the newest installment of an in-depth series that highlights local markets throughout the country, giving sellers and buyers a better understanding of what's happening in their local area rather than relying on national statistics.
Readers may remember Homes.org's Pick for the Top 9 Real Estate Markets to Watch in 2012 which included Santa Fe, NM. Like many other parts of the country Santa Fe's real estate market is seeing an increase in interest due to improving affordability. At the end of Q3 the 2011 President of the Santa Fe Association of REALTORS, JoAnne Vigil has this insight to share, "With record low mortgage interest rates and competitively-priced homes, I'm sure there are many renters penciling out the advantages of home ownership."
Though homes are now more affordable, Santa Fe didn't experience the sharp price drops seen in other areas. And as pointed out in the Top 9 list prices are expected to inch back up closer to pre-recession levels. In fact, Q4 of 2011 the single family median sales price saw a 3.4% increase compared to the same time in 2010 as well as a 39.6% increase in the total monetary volume of sales. Another reason the Santa Fe real estate market has remained steady is their low unemployment rate of just 5.4%.
Santa Fe Real Estate Market 2011 Q4 Information and Statistics
County: Santa Fe County
Zip Codes in the City: 87500-87599
Population (City): 67,947
Population (Metro): 144,170
Total Households(2006-2010): 31,651
Median Home Value (2006-2010): $311,300
Q4 Median Sale Price in :
- Single Family - $310,250
- Condo / Townhome - $225,000
- Duplex / X-Plex - $0
- Mobile / Manufactured - $175,000
- Residential Land - $125,000
Q4 Homes Sales:
- Single Family - 143
- Condo / Townhome - 69
- Duplex / X-Plex - 0
- Mobile / Manufactured - 1
- Residential Land - 35
Foreclosures (Santa Fe County): 1 in 994
Renters vs. Owners: 38.3% vs 61.7%
Type of Home:
62% Single Family
To learn more about real estate in Santa Fe, NM or to find license real estate agents in Santa Fe please visit: Homes.org.
Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.
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