The sales and inventory of Santa Fe residential real estate is continuing to come into balance! Some areas actually have less than a 6 month supply of homes for sale (based on current volume of sales) and the overall market keeps getting better every month.
An area with less than a six month supply of inventory would be defined as a seller’s market, but if the inventory is in excess of a six month supply, that is a buyer’s market. We have been in a buyer’s market for almost all of the last five years.
Ideally, sellers and buyers would be on equal footing in their negotiations, not pushed around by overall market conditions that favor one side or the other. It will be a treat to arrive at the day where the property attributes are at least as important as the price. But buyer’s have been so locked in to finding bargains and great values, price will still continue to top the list of what buyers look for when home shopping.
I personally am looking forward to a fruitful and interesting year in 2013. If you actually read these posts, I respect you for that,
and thanks as always for visiting and may your Holidays be cheerful and warm!