The prices in real estate in Santa Fe, in the New Mexico region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Santa Fe has increased strongly during the last 6 months. In February, the average price per sq.feet was $260. In the following month the price per sq.feet increased to $294. In the following two months the price per sq.feet has increased 113 %, going from $277 to $312.5 per sq.feet. The price per sq.feet has had a considerable increase of 129 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $294.75 to $379 during June, and July.
Based upon to the price in Santa Fe (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during February, is $568,619. During March the price went through a considerable rise reaching $666,987. During the following two months (April, May) the average price had a considerable increase of 115 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $768,047 they are 62 % more affordable than the average price for Santa Fe. The properties with the highest average price have 4 bedrooms, Their price is 26 % more costly than the average. After that we have properties with 3 bedrooms priced at $667,736.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $311 / sq.feet, with an average $455 / sq.feet price in Santa Fe. The properties with the lowest average prices have 1 bedroom. They are 13 % cheaper than the average followed by properties with 4 bedrooms with a price at $377 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $768,047 it is 56 % cheaper than the average price in Santa Fe. "Farm" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Commercial". At a price of $711,979 it is 3 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Farm" at an average cost of $277 / sq.feet followed by "Commercial" priced at $281 / sq.feet. "Condo" is the most costly type of property with a $2,733 / sq.feet cost followed by "House" with an average price of $2,263 / sq.feet.