2020 Second Quarter Market Update

HomesAs we continue to navigate these unprecedented times, the health and safety of our community is our top priority. We quickly adapted to conduct business and support our clients looking to buy, sell or rent homes by conducting virtual
showings, virtual open houses and rolling out our new, visually rich website, sothebysrealty.com.

I invite you to review a summary of sales activity in the Santa Fe area during the second quarter of 2020, based on closed production from April – June 2020. The Santa Fe Association of Realtors reports the following market data for this quarter, which is compared here for the same period of 2019.

Closed sales from the second quarter do not tell a complete story regarding the housing recovery in Santa Fe. Heading into the third quarter, I wanted to bring your attention to additional positive indicators:

  • Average selling price increased 5% from $459k in Q2 2019 to $483k in Q2 2020.
  • Sales in the $750k to $1M price range increased 4% from 82 properties in Q2 2019 to 85 properties in Q2 2020.
  • Average days on the market decreased 3% from 73 days in Q2 2019 to 71 days in Q2 2020.
  • Median selling price increased 4% from $360k in Q2 2019 to $375k in Q2 2020.
  • Sales in the $1M to $2M price range increased 1% from 69 properties in Q2 2019 to 70 properties in Q2 2020.

Click here for the Second Quater 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,