The post title is not sexy, but it is a fact of real estate in Santa Fe, NM that the inventory of homes listed for sale creeps up during the months of February thru June. That has been true since statistics were first compiled. And its true in almost every other market in the US (except where “snowbirds” go to hide out in the winter months).
Our creep has already begun. Inventory in every price range went up from the end of January to the end of February. That trend will continue for another 4 months, at least. The interesting measurement will be the spread between sales and inventory during this race to the top.
Looking back, using the end of June of every year as a benchmark, the # of homes listed for sale as of that date (June 30) were as follows:
for 2008 = 2273; for 2009 = 2333; for 2010 = 2240; for 2011 = 1861; for 2012 = 1715
Right now we are at about 1332. Last year the inventory climbed about 180 homes from the end of Feb until the end of June. And last year there were 547 sales in that time period. By the end of June this year, we are hoping to put an exclamation point on the statement that the real estate crisis, caused by the bursting of the real estate bubble, caused by many people yet to confess, is over and done.
If you are a hopeful buyer, keep your eye on your email inbox for details of new listings that are coming on board now. It is easy to sign up on my search program; go to the home page and click SEARCH in the red box, then sign in and you are off and running. No cost or obligation!
If you are a hopeful seller, there is REALLY “no time like the present” because more competition will arrive soon and you don’t want to miss this surge of buyers that has been evident since sometime last year. Take another look at your property and freshen it up if possible, and another price cut might be a good decision about now. Ask your Realtor what it will take to sell it in the next few months.
If you know of anyone that is looking to sell or buy, I know an honest and wise Realtor that takes great care of his clients. His name is Alan Ball and he is available at 505-470-7153 or contact him by email at firstname.lastname@example.org anytime. You will be treated with respect. Check out the testimonials sometime!