Santa Fe New Mexico residential real estate is showing signs of renewal, just in time for spring, full of hope and optimism about new growth. There is a reduction in real estate inventory at this time, compared to typical listings every spring. The absorption rate shows a shorter number of months for all inventory to be absorbed based on a current rate of sales. With lower inventory, the same rate of sales will take care of that inventory in less time. A higher rate of sales is yet to be seen, but there is at least improvement of the number of sales per month in this new year. January is usually a slower sales month.
There are many opinions on why the inventory of sales listing is low. Many sellers have perhaps given up trying to sell in the last few years and have decided not to sell at this time. Some homeowners are choosing to do minor remodels and wait out the real estate market trends, until their home value grows again. Many owners have chosen to lease their properties to tenants.
The real estate market usually has increases in inventory in the first 6 months of the year and most likely it will again in 2012. What is unknown, is how much inventory might come back on the market and whether buyers will decide to start buying while interest rates are at their lowest. With sales still somewhat consistently sluggish, it is unknown whether the real estate market in Santa Fe will turn around.
In Aldea de Santa Fe, however, the home sales are moving at a swifter pace. Recently a home sold for $505,000, which is encouraging in this very desirable neighborhood. One block away, a home has recently listed at $539,000, or $269. price per square foot for a 3 bedroom residential home.
Living in Aldea has so many more benefits: quality of lifestyle, the variety of cultures, the sophistication of the community and the ever-changing views. Life in Aldea, just 8 minutes form the Santa Fe downtown plaza, is an amazing mixed use new urbanist community that offers a quality of life you won’t find anywhere else.
You can come join us and help create a vibrant community by buying the most affordable live work loft, located on the Aldea Plaza. With approximately 3,600 sq. ft. & three levels, you have 360 degree views in an upscale community where you can enjoy a live, work, play lifestyle with no commute. Enjoy penthouse living, commercial storefront on the plaza level, and a large workshop/garage are on the alley level with separate entrances. This listing price equates to $147.27 price per square foot, way below the $289 cost of construction.
Loft #17 is priced aggressively below the building construction cost, at an asking price that includes the land for free!
Just REDUCED!!! $539,000.
Call now for a tour. 505.603.9300
www.AldeaLofts.com
MLS # 201200388
For more information, visit Aldea Lofts, www.AldeaLofts.com
