The stats reflecting activity during the third quarter of 2017 are in and what is revealed is positive news on almost every front. According to figures obtained from the Santa Fe MLS, when comparing the third quarter of 2017 to the third quarter of 2016, the average selling price of residential properties rose by nearly 8%, the median selling price increased by 5% and number of units sold increased by nearly 10%. Robust rates of activity occurred in the $500,000 to $750,000 price bands, the $750,000 to $1M price bands, the $1M to $2M price bands as well as the $2M+ price bands. In fact, the $2M+ price band has had 20 sales recorded in 2017 to date, that number more than doubling over one year ago (20 vs. eight). In addition, in the third quarter of 2017, overall days on market declined to 118 days, down from 143 days in the third quarter of 2016, a 17% decline.
Click here for the Third Quarter 2017 Market Update Report
Click here for Sotheby’s Significant Sales, Volume II, Issue I
My goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market, and I hope 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!