Low End Market Drives Rise in Santa Fe County Home Sales
By Bruce Krasnow
The New Mexican | Posted: Wednesday, July 2, 2014
Coleen Dearing describes the first half of 2014 as the “Come to Jesus Market” for Santa Fe home sellers.
Buyers who have long delayed putting their homes up for sale have realized that prices are not going to spring back to 2006-07 levels anytime soon, said Dearing, an associate with Coldwell Banker Trails West Realty and president of the Santa Fe Association of Realtors.
“I think people were waiting for the market to get better and that it would magically spring back to 2007 levels,” she said. “They have seen the writing on the wall — it’s not going to be overnight. It’s going to be years, perhaps a decade, before we see those levels, so they need to get motivated.”
More sellers are getting the message, as the number of closed sales in Santa Fe County increased 4.7 percent from a year ago — and the first five months of 2014 are showing an overall bump of 7 percent in closed sales, according to data released Thursday by the Santa Fe Association of Realtors. In terms of closed sales, the year is off to its best start since 2007.