According to The Santa Fe Association of Realtors MLS, sales during the first quarter of 2016 for single-family homes, townhouses and condos in Santa Fe continued at a moderately increased pace compared to the first quarter of 2015, with number of closed sales up 1%. Both average and median prices were up slightly – all indicators of the continuation of a steady, healthy market.
- Throughout the first quarter of 2016, 80% of all sales continued to be under $500,000.
- On the other end of the scale, sales from $1M-$2M were up significantly with 29 closed sales in the first quarter of 2016 compared to 17 closed sales in the first quarter of 2015 – an impressive increase of 71%.
- Days on market in the $1M-$2M range were down 12% while listing inventory in the above $1M segment actually increased 13%. This segment of the market will continue to be interesting to follow as we enter the summer season.
Late spring and summer bring an exciting atmosphere, festivals, cultural attractions and an abundance of tourists to The City Different. As the leading real estate firm in Santa Fe, Sotheby’s International Realty wishes to extend a warm welcome to those visiting and planning a visit to our captivating corner of the world.
Click here for the First Quarter 2016 Market Update Report.
My hope is that you find this update helpful and informative, with links to articles and market trends. If you are in the market to buy or sell or know someone who is, please allow me to be of assistance!