2023 Q4 Market Report
Posted by Barker Realty LLC on
2023 will be the year remembered as the year our housing market started to find a new equilibrium. With interest rates peaking and cooling demand, many expected prices to correct more aggressively, however, that still wasn’t the big elephant in the room. Our inventory woes continued into 2023 and that propped up pricing, with the Santa Fe market still showing a modest 2.6% increase in median prices.
Overall demand did slow down, relieving buyers from the pressure of making fast decisions and sometimes frustrating sellers, who otherwise were expecting a frenzy of activity of years past. Our days on the market have returned to a healthy 60-day cycle, indicating we should see pricing stay relatively stable for the time being.
With many new…
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