Tierra Contenta Homes are a Solid Investment
by Amy Fairchild, Associate Broker and co-founder, Santa Fe Wild West-A Real Estate Co.
According to a recent report by the Santa Fe Association of Realtors, sales have slowed somewhat in the area-Santa Fe City and Santa Fe County combined home sales have dropped in the 1st quarter of 2007 (as compared to the same time period in 2006) by 28 percent. However, the price of homes over that same time period in Santa Fe County have seen an increase of 15 percent. Another solid indication of sales strength in the area is that list prices as compared to sales prices are holding steady at 96 percent throughout Santa Fe.
Ok, …but what do these statistics mean for Tierra Contenta residents?
In Tierra Contenta, 24 homes sold between January 1, 2007 and March 31, 2007. This is quite vigorous, considering that 22 homes sold in Tierra Contenta over the same time period in 2006, when the real estate market was chugging along nationwide at a brisk pace and there was not a record-breaking snowfall-remember January 2007? Even more exciting is that the average selling price of those 24 homes this year was $273,845-up from an average of $233,468 last year-that's a gain of more than 17 percent! However, the one realistic caution is that it is taking a bit longer to get homes sold. Days on the market from 1st quarter 2006 to 1st quarter 2007 saw an uptick of about one month-from 116 days to 147 days.
Tierra Contenta has evolved into one of south Santa Fe's vibrant, family-oriented communities where good value and lifestyle go hand in hand. Good neighbors are a hallmark of the community, where pride of ownership is reflected in the residences-which are seeing excellent resale values. This desirable enclave is reaping the benefits of location-with easy access to 599 and I-25, schools, and shopping. The new southside Santa Fe Public Library, and future planned parks will only enhance the community's desirability.
So rest assured; your investment is doing well. Should you decide it is time to put your home on the market, it would be a sound financial decision. Those of you who intend to move elsewhere for the start of the 2007 - 2008 school year should get your homes listed with a real estate broker as soon as possible-since it may take longer than expected to sell your home. On a positive note, we at Santa Fe Wild West have seen a lot of activity in the market-customers are actively working the listings, open houses are experiencing high traffic rates, and new homes are coming on the market daily. Remember, this is the selling season-locals are shopping for homes and investors and tourists are in town. Take a deep breath and feel confident about your Tierra Contenta investment!
Santa Fe Wild West would be happy to assist you if the time is right to sell your home. Our professional team can help you price your home appropriately, locate qualified buyers and handle every aspect of your real estate transaction. Give us a holler-474-6233.
* Based on reported sales from the Santa Fe Association of Realtors MLS. SFWW and SFAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by SFAR MLS may not reflect all real estate activity in the area. |
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