2020 First Quarter Market Update

HomesNo one will be able to fully predict the effect the coronavirus pandemic will have on the real state market, but at Sotheby’s International Realty, the health and safety of our agents, clients, employees and community is our #1 priority.

I invite you to review a summary of sales activity in the Santa Fe area during the first quarter of 2020, based on closed production from January – March 2020, much of which went into contract before the onset of the coronavirus pandemic. The Santa Fe Association of Realtors reports the following market data for this quarter, which is compared here for the same period of 2019.

Heading into the second quarter of 2020, here were a few positive things in the Santa Fe housing market:

  • The Governor of NM has deemed real state an “essential business” and accordingly listing agreements, purchase agreements and closings are all occurring in compliance with social distancing guidelines;
  • Year to date, the percentage of list to sales price in Santa Fe has held steady at roughly 95%;
  • Now is an optimal time to consider purchasing property in Santa Fe where we enjoy open spaces, no traffic jams, a vibrant cultural scene and clear skies for more than 325 days per year.

Real estate is all about location, location, location and location is our local community. Here are a few local organizations that you can help:

  • The Food Depot
  • Kitchen Angels
  • Presbyterian Santa Fe Healthcare Foundation and/or the Christus St.Vincent Hospital Foundation

During this unprecedented time, I continue to represent clients who want or need to sell a home, and my team is working hard continuing to conduct the business of real estate. I am committed to providing the highest quality service and will to continue to support buyers and sellers, using state-of-the-art technology and a suite of virtual marketing tools that make it easy to view and experience the finest real estate in the world from the safety of one’s home.

Click here for the First Quarter 2020 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,