2019 Third Quarter Market Update

HomesThroughout the third quarter of 2019, Santa Fe’s residential real estate market continued building upon the trend set last year, which is indicative of an active, healthy and robust marketplace. According to the Santa Fe Association of Realtors MLS, both median and average sales prices increased 10% from one year ago. While units sold decreased by a modest 6%, the largest increase in sales occurred in the $500K to $750K bands, an increase of 11%, and in units sold above $2M, which increased an impressive 33% from 21 properties sold in 2018 to 28 properties sold in 2019. Recovery in this price sector was a welcome sign for buyers and sellers.

As is typical of a vigorous market, average days on market decreased by 17% overall from 88 days in 2018 to 73 days in 2019. The only sector experiencing an increase in days on market was the sector priced from $1M to $2M, which recorded a modest 5% increase in days on market from 136 days in 2018 to 143 days. Another sign of a brisk market, active listings, was down 13%, with the largest decline seen in the $750K to $1M range, a decrease of 24%, and in homes priced above $2M, a decrease of 17%.

Click here for the Third 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.

Warmest regards,