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Demand for single-family homes in Santa Fe is soaring at a time when housing inventory is down a whopping 62% from last year. The result: skyrocketing real estate prices. That s good news for sellers, but not-so-good news for buyers, especially locals. KSFR reporter Mary Lou Cooper talks with Roger Carson, president of the Santa Fe Association of Realtors, to help sellers and buyers navigate the war zone that the real estate market has become in the City Different.
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SANTA FE – Anyone considering purchasing a home in the Santa Fe area better do so quick – they’re becoming an increasingly rare item.
The inventory of homes for sale in Santa Fe dropped to record lows during the last three months of 2020, according to a report issued Tuesday by the Santa Fe Association of Realtors.
The report shows inventory for single-family homes in Santa Fe County decreased by a staggering 54% – from 492 in the fourth quarter of 2019 to 228 at the end of 2020 – reaching new lows not seen for in the area for at least 15 years.
“Our historic low is kind of the norm now,” SFAR President Roger Carson told the Journal.