In 2019, the real estate market throughout Santa Fe – all areas and all property types – remained buoyant. According to the Santa Fe Association of Realtors MLS, median prices rose 6% compared to one year ago, $366K vs. $345K, while the average selling price rose 7% to $471K. Home sales above $2M increased 10% from the year prior while homes sold between $1M and $2M increased 4%. Total units sold decreased 5% due in part to lower inventories which declined by 6% from 2018. Average days on market decreased 9% overall with the largest decreases happening in the $500K to $750K price sector, which was down 14%, and the $2M+ price sector, which was down 19%. Demand for homes in the market above $1M remained strong and showed patterns of continued growth for the fifth consecutive year. It was not unusual in the most active price sectors to see well-priced homes receive multiple offers within days of being placed on the MLS.
Click here for the Fourth Quarter 2019 Market Update
As always, my goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market. I hope you find it to be a valuable resource, and I look forward to working with you to meet your real estate needs now and in the future. If you have any questions about the Santa Fe market, please do not hesitate to reach out to me.