There were 103 homes sold in April 2011. Thats up 11% from the 93 sold the previous month. It's an increase of 17% from April 2010, and up 50% from April 2009. There were 1244 homes on the market for sale in April 2011. That's up 4% from the previous month, down 9% from one year ago, and down 11% from the same month two years ago.

Median price is up quite a bit from the same month last year, but I think what we are seeing in this instance is the effect of the first time home buyers tax credit, which caused more lower-priced homes to sell than usual.

The really encouraging news is the increase in the number of sales - up 50% from the same month two years ago. Along with this, inventory is down 11% from that same month. I think this demonstrates the strength of the Santa Fe real estate market relative to the rest of the country. Sales up and inventory down... sounds like a recovering market to me.

Source: Santa Fe Association of Realtors® MLS (5-6-11).

View my most recent report on Santa Fe home prices April, 2011.

© 2011 Martin Wright, CRS^®, e-PRO^®, Realtor^®