In addition to the usual market update, today I’ll give you an overview of where Santa Fe Realty Unlimited stands as a company.
We have about 30 people working for us, and last year we sold 153 homes in Albuquerque and Santa Fe. Most of those took place in Santa Fe, but we achieved a milestone by opening an office for Albuquerque Realty. This has not only been a huge success, but it’s also enabled us to help customers who’re moving between markets.
We’re seeing this happen frequently due to Santa Fe becoming more expensive to live in, and we’re happy to help anyone making this type of transition. If you find yourself facing this situation, give us a call and we’ll craft a strategy according to your needs and timeline—whether that means buying first and then selling or vice versa. 2020 was indeed a great year for us. We’re growing as a team and taking on new agents all the time.
"It's a great time to sell your home."
As far as the northern New Mexico housing market is concerned, inventory is very low, which is great for sellers but tough for buyers. As of the recording of this video, there are just 415 single-family homes available in the entire Santa Fe MLS, which is a small percentage of what is normally available. Santa Fe itself has just 215 listings ranging in cost from $188,000 to $16.5 million.
In the Albuquerque area MLS, there are 998 homes available, which is down slightly compared to the 1,000+ we saw the week before. Of those 998 listings, just under 700 are located in Albuquerque proper, Corrales, Los Ranchos, and Rio Rancho.
If you’re a seller, it’s obviously a great time to sell (if you have a place in mind to move to). If you’re a buyer, it’s important to be aggressive. You need to be ready and willing to see homes the day they're listed because many of them are getting multiple offers and selling for over asking price. If there’s a silver lining, it’s that interest rates are very low, so you can get money cheaply.
Whether you’re thinking of buying or selling in our market, reach out to my team and we’ll help you get started right away. If you have any other real estate needs, feel free to call or email us as well. We look forward to speaking with you.