Elation or frustration? We’re at risk of sounding like a broken record in reporting new record averages and extremely low inventory, yet here we are! The unpredictability of the current market continues to surprise even our most seasoned brokers. Some trends have remained steady, however: move-in ready homes in desirable neighborhoods continue to attract multiple buyers and command a premium, buyers continue to flock to Santa Fe for its quality of life and to take advantage of their newfound career flexibility, and until current construction catches up with demand we will see prices remain high.
After 2020 we thought the average price would continue to creep upwards as demand never waned. Now in the final months of 2021, that prediction still holds true. Buyers need to be ready to pounce and to be creative in their offers, while sellers enjoy the benefit of this bounty, they too need to proceed cautiously as we are starting to see buyers balk. Working with the right broker in today’s market will be the difference between elation or frustration.
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