Aldea & Tessera Real Estate Year in Review

As the year closes out, it is time for a look at what took place in 2014 in our community, in regards to the real estate market. Currently listed on the Aldea market, as of January 5, 2014, there are 22 homes for sale: 3 townhomes and 19 single family homes (2 of the homes are bank owned) listed for sale. There are also 5 lots listed for sale.

There are 5 pending Aldea properties, 1 townhome and 4 single family homes, that will presumably close in January 2015.

In 2014, a total of 31 homes sold in Aldea, which represents 5 townhomes and 26 single family homes. There was only 1 bank owned/short sale property that closed.  Sale prices ranged from a low of $196,000 to a high of $660,000.

In 2014, 9 lots sold in Aldea: 3 of them bank owned, with selling prices ranging from $27,250 to $100,000.

In comparison to 2013 when Aldea had 26 homes sales: 6 townhomes and 20 single family homes with 4 bank owned properties sold. Sale prices ranged from a low of $260,000 to a high of $730,000

In 2013, 10 lots sold: 9 of them bank owned, sales price ranging from a low of $26,000 to a high of $67,000.

2014 was a better year than 2013 for Aldea home sales, with prices inching upwards. This increase, while slight, shows promise for 2015. It is expected that more homes will come on the market and prices will increase slightly.

Tessera’s home sales sparked much interest in 2014 and Homewise reports that they sold more homes than anticipated, with only two home sites left in the first release of phase one. Homewise has a builder program where they are allowing builders, designers, developers, realtors, to reserve a lot and sell a custom home, similar to what the original developer did in Aldea. It is anticipated that if Homewise continues to provide this alternative option, Tessera will have a diversity of housing designs to meet the needs of the buyers who are looking for custom homes. Buyers I work with love the Tessera view lots, yet desire a custom home. I predict more custom homes will be built in Tessera, as the Aldea lots are almost all built on. It is expected that the next Tessera phase lots will be released in the first quarter of 2015.

The real estate market in Santa Fe, in general, is creeping back upward, with new construction starts increasing as well as the increase in existing home sales. If the numbers hold, it would mark the fifth year in a row with more homes selling than the year before. And with interest rates still below historic norms, that bodes well for 2015.

New construction of a home designed by John Halley of Comet Studios, has started construction on Avendia Frijoles. I sold the Aldea lot and John has designed the home. I sold another Aldea lot on Calle Altura and that home is also being designed by John, with anticipated construction start in late spring of this year. I also sold a home in Tessera, which will be completed by the end of April. The fall & winter has been very busy with client inquiries and written offers, which indicates a busy spring here in Aldea. Many of my clients search for 6 months or more before settling on a location or a specific home. Aldea’s Equity New Mexico real estate office is open 7 days a week. Throughout the holiday season, there has been consistent activity, picking up the current real estate listings at the door and scheduling home tours. Several of the Aldea properties have been taken off the market over the holidays and it is anticipated they will be back on the market in the first month of the new year.

My real estate office provides lots of resources, marketing tips and articles on my website and I produce a monthly real estate newsletter. For current PDF listings of Aldea Homes/Lots and Tessera Homes/ Lots, stop by, drop in & visit us in person or online!

Looking forward to a productive and prosperous new year for all! ~ Dianne McKenzie