With all the gloom and doom we hear about the real estate market, you can see that Las Campanas is holding up very nicely. Looking at quarter over quarter, the average price per square foot continues to rise, although “days on the market” have risen as well. Days on the market still remain below pre-pandemic levels, however. Showings have slowed throughout the Santa Fe market, but we remain a unique place to live here in Las Campanas that will always appeal to discriminating buyers.
Quarter over quarter, there has been a slight decrease in the average sale price, but not the drastic decrease that many were expecting. There are currently 10 homes under contract. We don’t know how many of those may close before the year end, but this should be another very strong year in sales, particularly with so few homes on the market.
If we look at the first 3 quarters of this year compared to last year for the same time period here’s what has been reported in the Multiple Listing Service:
Number of sales: 54
Average sale price: $1,851,592
Average price per square foot sale price: $511.51
Number of sales: 64
Average sale price: $1,848,872
Average price per square foot sale price: $507.48
Right now, there are only 38 homes for sale in Las Campanas. Many of these are “to be built,” rather than move in ready. These range in price from $1,275,000 (an existing home) to $5,050,000 (“to be built”). Regardless of the high interest rates and global uncertainty, this is definitely a good time for owners who want to move on to their next adventure to put their homes on the market. We can’t expect to meet the “pandemic frenzy” level pricing, but we have a good market here in Las Campanas. We truly are unique – in lifestyle, security, amenities. We’re not immune to the market, but we are special!
If you’d like a report on your particular part of Las Campanas, email me at email@example.com or call me at (505) 660-8722!