This is the Real Estate Beat column in the July Eldorado Living Magazine. These two have some of the most amazing real estate juju I have ever worked with. Enjoy!
39 Active Eldorado Properties
16 Homes Under Contract
– $219 was the average price per square foot in June. Remember this number depends on a wide range of factors – the size of the house, age, quality of the finishes, views, heating, construction, etc. The larger the house, the lower the price per square foot. The smaller the house, the higher the price per square foot. This average has ranged from $173 – $225 in the last six months. Some properties sell for as low as $119 and as high as $250.
56 were the average days on the market last month. This includes the number of days the property was under contract which is typically 30-45 days. This has ranged from 51 – 188 in the last six months. Homes sold quickly when priced correctly and properly prepared for sale.
– 98% is the sales price vs. listing price for June. This is the listing price when the property went under contract, not the original listing price, which may have been higher. This has ranged from 95% – 100% for the last six months. The sooner a property goes under contract, the closer to the listing price the seller is likely to receive. The 100% figure takes into account that some homes sold above the listing price.
– 412K was the average listing price last month. The average sales price was 402K.
– 2.6 months of inventory – which means the length of time it would take to sell all the homes listed in Eldorado at the current rate of sales. Eight months indicates a healthy real estate market. Eldorado remains a popular and in-demand neighborhood.
If you would like to discuss the current state of the very active Eldorado market, or have questions about this beautiful neighborhood, please let me know.
Halfway through 2017, home sales remain robust in the Santa Fe market, with closed transactions up more than 9 percent through June and median prices in both the city and county up over last year’s numbers.
The Santa Fe Association of Realtors said Wednesday in its quarterly market report that second-quarter sales — in April, May and June — rose 7.2 percent in the city of Santa Fe, with a median price of $325,000, up 7.4 percent from a year earlier.
During this same period, county home prices rose by 10 percent to $465,000.
The second quarter was especially strong for sales of condominiums and town homes, one indication that baby boomers are still looking to downsize. The share of the market for those units is small in Santa Fe, but closed sales during the quarter increased 25 percent from a year ago, to 116.
While the number of new listings in the Santa Fe region has declined recently, the total inventory of homes for sale in the Santa Fe market stands at 1,711. That is up slightly from the end of March but about where it was 12 months ago.
Alan Ball, the qualifying broker at Keller Williams Santa Fe, said the market is balanced in most price ranges.
“Overall the market is somewhat balanced, with the usual strong and weak pockets. One who wishes to sell a home should find enough of a pool of buyers to make a deal,” he wrote in a recent blog posting about Santa Fe home sales. “Prospects who are considering our area will have a reasonable amount of inventory to shop.”
But there is one sign that less inventory might be having some impact. The count of properties for which contracts have been accepted, pending sales, dropped 25 percent in the second quarter, to 560 from 753.
If that trend continues, it would dampen sales for the remainder of the year.
Santa Fe is getting recognized by a company that knows a pretty city when it sees one. National Geographic crowned Santa Fe a World Legacy Awards winner.
Santa Fe won the Sense of Place category. That category measured authenticity, support to protect historical monuments, archaeological sites and maintaining other culture and tradition. Santa Fe beat out Awamaki, Peru and Adventure Canada, Canada for this category.
“National Geographic stands for exploration, conservation and stellar storytelling. World Legacy Awards celebrate the people, places and experiences that exemplify our mission in the global travel industry,” said National Geographic Travel editor-in-chief George Stone in a statement.
Stone said the recipients represented the future of travel and are leaders in sustainability.
Tourism of Santa Fe Executive Director Randy Randall said, “ This is an incredible international honor for Santa Fe to be singled out as number one in ‘Sense of Place.’ It is a testament to what makes Santa Fe so special and truly The City Different.”
The awards aim to highlight sustainable and global tourism around the world. The awards are presented by National Geographic and ITB Berlin. There were more than 100 entries from 45 countries across six continents. The 15 finalists were evaluated by 26 judges and underwent an onsite inspection. The awards come as the United Nations declared 2017 “The International Year of Sustainable Tourism Development.”
“Our cultural diversity, our careful preservation of history and our authentic offerings have allowed us to be recognized on a world stage as the only recipient from the United States in this years National Geographic Legacy Awards,” said Randall.
In the most recent report done by the New Mexico Tourism Department, direct visitor spending in 2014 saw an all-time high at $6.08 billion.