2020 Fourth Quarter Market Update

Homes2020 was an extraordinary year for residential sales in the Santa Fe area.  The sellers’ market continued a trend of robust momentum throughout the fourth quarter of 2020 to end the year on a very positive note.  According to the Santa Fe MLS, the average selling price at our firm was $819K, while our nearest competitors had average selling prices at or below $600K.  Total units sold throughout Santa Fe increased in all price bands from $500K+ with the strongest gains shown in the sale of homes priced from $1M -$2M, an increase of 33%, from 188 units in 2019 to 250 units in 2020.

Sales of homes above $2M reflected an increase of 48%, from 33 units sold in 2019 to 49 units sold in 2020. Other positive indicators included the following:

  • The average selling price increased 13%, from $470,457 in 2019 to $531,150 in 2020
  • The median selling price increased 13%, from $365,350 in 2019 to $412,719 in 2020
  • Active listings decreased in all price bands by 34%, with the exception of homes priced at $2M+, which was up 6%
  • Average days on market for homes $750,000 to $1M declined a remarkable 24%, and 16% for homes priced from $1M-$2M

While 2020 certainly presented its challenges, the real estate market in Santa Fe reflected the trends seen nationally, with many buyers opting for part or full-time residences in small cities with wide open spaces and access to everything from hiking trails, skiing, biking, hunting and fishing – all of which are abundant in our breathtaking corner of the world.  Our firm and our experienced brokers are proud to carry on the tradition of being the undisputed market leader in all price ranges throughout the Santa Fe area.

Click here for the Fourth 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,

Santa Fe – 2nd Best Small City in America 2020 – Condé Nast

Santa Fe – 2nd Best Small City in America 2020 – Condé Nast Traveler Reader’s Poll

Santa Fe, New Mexico
from Condé Nast Traveler Reader’s Poll – October 2020

Santa Fe acts as both New Mexico’s political and creative capital: Wander its wide streets, flanked by adobe houses, and you’ll begin to see why artists like Georgia O’Keeffe were so inspired by this eclectic, historic town. (Traveler readers also can’t stay away—Santa Fe is a regular on our best-of-the-U.S. list.) The city’s many art institutions, 250-plus galleries (notably SITE Santa Fe, in the Railyard, an emerging contemporary arts hub), and Spanish colonial churches keep culture fiends busy. To recharge after an active day of museum-hopping, contributing editor Alex Postman recommends ordering 505 Manhattans at Radish & Rye, whose 75 bourbons and whiskeys are an antidote to tequila overload, and a meal at Eloisa, where John Rivera Sedlar, whose great aunt was O’Keeffe’s chef, serves up a mean duck enfrijolada.

Click here for full article.

2020 Third Quarter Market Update

As 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 showcasing them on our new, visually rich website, sothebysrealty.com.

Residential sales activity in the Santa Fe area gained remarkable momentum throughout the third quarter of this year. As a result of third quarter production, Santa Fe continued to experience a strong sellers’ market both in terms of the number of closed sales as well as average and median sales prices achieved.

I invite you to review a summary of sales activity in the Santa Fe area during the third quarter of 2020, based on closed production from July – September 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 third quarter do not tell a complete story regarding the housing recovery in Santa Fe. Heading into the fourth quarter, we wanted to bring your attention to additional positive indicators:

  • Average selling price increased 8%, from $473K in Q3 2019 to $509K in Q3 2020
  • Sales in the $1M to $2M price range increased 24%, from 132 properties in Q3 2019 to 164 properties in Q3 2020
  • Active listings decreased 33%, from 1,146 properties in Q3 2019 to 770 properties in Q3 2020
  • Median selling price increased 8%, from $370K in Q3 2019 to $399K in Q3 2020

Click here for the Third 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,

2020 Second Quarter Market Update

Homes

As 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,

¡Viva Santa Fe!

Recent accolades about Santa Fe, NM

La Villa Real de la Santa Fe de San Francisco de Assis receives many awards and accolades as a favorite destination for its art and culture, food, friendliness, climate and setting, outdoor life – and, as a great place to live.  We are recognized world-wide by a wide variety of leading publications.

Resonance, a consultancy group in real estate, tourism, and economic development, just announced Santa Fe as the Third Best Small City in the United States in 2020:  https://www.afar.com/magazine/best-small-cities-in-the-united-states-to-live-in-and-visit

Click here for a list of our most recent recognitions:  Santa Fe Accolades.

For a complete list of accolades with links to articles, visit the Tourism Santa Fe website at SantaFe.org.

Meet Caroline

Caroline Dessain Russell

Click here to view Caroline’s video.

As a leading specialist in luxury real estate with more than 26 years of experience as a top producing Realtor, I have proven results.  My approach to market your home is :

My Strategy

  • I provide exceptional service by keeping a small listing inventory. A limited inventory allows me and my team to give each listing the individualized attention and time that is needed to get it sold.
  • The marketing materials will be thorough and answer the questions most frequently asked by buyers. This allows the buyer to have the information they need to overcome any objections they may have and ultimately results in an offer.
  • The description of your home will be artfully written to serve as an enticing invitation to visit your home. This is important because, increasingly, buyers choose the properties they want to see from the Internet before they ever visit a property in person.  Your home will be marketed in a way that is appealing to buyers.
  • I will be present for all showings and am readily available for follow up.

My Commitment and Mission

My commitment to you is simple – to provide boutique service, with international exposure.  I believe I give the most hands on, personalized service in our market. I will go the extra mile to get your home sold. Selling a property is a team effort and I will communicate effectively and work diligently guiding you through the process from start to finish.

My goal is to make every transaction a rewarding experience for all parties. I am tireless in my commitment to my customers, and I provide exceptional service, discretion and superb organization skills.  Through my compassion and genuine care for my customers, I offer service above and beyond expectations.

Read more…

2020 First Quarter Market Update

Homes

No 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,

2019 Fourth Quarter Market Update

HomesIn 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.

Warmest regards,

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,

2019 Second Quarter Market Update

HomesSecond quarter 2019 results for sales of residential properties in Santa Fe confirm a continued increase in average sales price and median sales price, while total units sold decreased by 9% from one year ago. According to the Santa Fe MLS, by the end of the second quarter of 2019, the average sales price for residential properties stood at $461K, compared to $423K one year ago, a 9% increase. The median selling price increased by 8%, or $360K, compared to $333K one year ago. As of June 30, 2019, active listings of residential properties in the Santa Fe area increased by 10%, with the largest increases found in homes priced between $250K to $500K, reflecting a 13% increase from one year ago while homes priced $1M+ reflected an increase of 12% from one year ago. Increased inventory translates to more choices for buyers as the summer sales season is upon us. Average days on market decreased by 17% throughout the second quarter. The only price sector showing an increase in days on market were homes priced from $1M to $2M, which saw an 8% increase from 156 days on the market last year to 162 days on the market this year. Of note for the Santa Fe high-end market was the fact that sales activity in the $2M+ market continued a slow yet steady increase in closed sales for the third year in a row.

Santa Fe was recently ranked by Travel & Leisure Magazine as #2 in “Best Cities in the US” and #14 in the “Top 15 Cities of the World”. As the summer season unfolds, be sure to make plans to visit our extraordinary city in order to experience some of the many cultural events and festivals that make Santa Fe so attractive to so many worldwide. Experience the lifestyle that only Santa Fe can offer and while you are here, make plans to select Santa Fe as a permanent part of your lifestyle choice.

Click here for the Second 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,

2019 First Quarter Market Update

HomesThe residential real estate market in Santa Fe recorded mixed results throughout the first quarter of 2019. According to the Santa Fe Association of Realtors MLS, sales of residential properties decreased 18%, from 718 units sold in the first quarter of 2018 compared to 587 units sold during he first quarter of 2019. While units sold decreased, median prices rose 6% from $315K in the first quarter of 2018 to $365K during the first quarter of 2019. The average sales price rose 11% during the same period to $463K in Q1 2019 compared to $415K in Q1 2018.

Average days on market (DOM) decreased in all price sectors with the exception of homes priced from $750K to $1M, which rose 14% from 125 DOM to 145 DOM, and homes priced from $1M+ to $2M, which increased from 157 DOM in Q1 2018 to 173 DOM during the first quarter of this year.

The average selling price at our firm for properties sold during the first quarter of 2019 was $735K vs. $501K for our nearest competitor. As we enter the second quarter of 2019, typically one of our busiest seasons in Santa Fe, we are buoyed by what many industry analysts see as a favorable interest rate environment combined with renewed buyer appeal.

Click here for the First 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,

2018 Fourth Quarter Market Update

HomesThe residential real estate market in Santa Fe was remarkably robust throughout 2018. According to the Santa Fe Association of Realtors MLS, sales of residential properties rose 8% this year from 3,049 properties sold in 2017 to 3,301 properties sold in 2018. Median prices also rose 8% from $320K in 2017 to $345K in 2018. The average sales price rose by 4% from $423K in 2017 to $441K in 2018.

Average days on market, another key indicator of market activity, decreased by double digits in all price sectors except for homes priced $2M+, which rose by 6%. Listing inventories in the $500,000 to $750,000 sectors rose by 4% and those listed above $2M rose by 3%. Total active listings declined year over year by 5%.

The average selling price at our firm for properties sold in 2018 was approximately $720,000 vs. $501,000 for our nearest competitor.

Click here for the Fourth Quarter 2018 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,

Santa Fe, NM – Voted #2 Best Small City

Santa Fe serves as both New Mexico’s political and creative capital: Wander its wide streets flanked by adobe houses, and you’ll begin to see why artists like Georgia O’Keeffe were so inspired by this eclectic and historic town. Traveler readers also can’t stay away – Santa Fe is a regular on our best-of-the-U.S. list.) The city’s 14 art institutions, 250-plus galleries (notably SITE Santa Fe, in the Railyard, an emerging contemporary-arts hub), and its Spanish colonial churches keep culture fiends busy at an appropriately desert pace; let’s call it “tumbleweeding.” To fortify after a day of museum hopping, Traveler features director Alex Postman recommends “505 Manhattans at Radish & Rye, whose 75 bourbons and whiskeys are an antidote to tequila overload, and a table at Eloisa, where John Rivera Sedlar (his grandaunt was O’Keeffe’s chef) serves a duck enfrijolada to erase the memory of nineties ‘Southwestern.'”

Click here to read the article:  Condé Nast Traveler

For a complete list of accolades with links to articles, visit the Tourism Santa Fe website at SantaFe.org.

2018 Third Quarter Market Update

Homes

I am pleased to report that the residential real estate market in Santa Fe continued to perform at a dynamic pace throughout the third quarter of 2018. According to the Santa Fe Association of Realtors, sales of residential properties rose by 9% over the same period from one year ago. Median prices rose by 6% to $340,000 while the average sales price rose by 4% to $438,000. Average days on market, another sign of a robust activity, decreased in all price sectors. Listing inventories declined or remained flat in all price sectors with the exception of homes $2M+ which had a 13% increase in active homes for sale. In addition, sales of homes $2M+ increased by 5% compared to one year ago.

Click here for the Third Quarter 2018 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,

2018 Second Quarter Market Update

Homes

The residential real estate market in Santa Fe showed continued steady and healthy rates of growth throughout the second quarter of 2018.  According to the Santa Fe Association of Realtors MLS, sales of residential properties rose by 10% over the same period from one year ago.  Median prices rose by 6% while the average sales price rose by 4% to $429,000.  Average days on market, another key indicator, decreased significantly in all price sectors.  Listing inventories in the $750,000 to $1M and $1M+ to $2M price ranges declined by 12% and 10% respectively, increasingly competitive sectors of the Santa Fe market.  The average selling price at our firm at the end of the second quarter was $675,667 vs. $484,146 for our nearest competitor.

Click here for the Second Quarter 2018 Market Update.

As always, our goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market. We hope you find it to be a valuable resource, and we 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 us!

Warmest regards,

2018 First Quarter Market Update

Homes

Santa Fe’s real estate market continued to move at a robust and healthy pace throughout the first quarter of 2018. Total residential sales of single-family homes, townhomes and condos in Santa Fe County rose by 16% over the same period last year, according to the Santa Fe Association of Realtors MLS. Median prices of residential sales rose by 7% while the average selling price rose by 5% to $422K.  The first quarter also resulted in a significant decrease in days on market in all price
categories with the exception of homes priced from $2M and above. Inventories of existing residential housing decreased to their lowest level in the last three years in all price categories with the exception of homes priced from $2M and above which remained elatively flat.

Click here for the First Quarter 2018 Market Update.

Our goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market, and we 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 us to be of assistance!

Warmest regards,

2017 Fourth Quarter Market Update

Homes

2017 proved to be a banner year impacting all price sectors of Santa Fe’s residential real estate market. According to the Santa Fe MLS, in the fourth quarter of 2017 total units sold increased 11% with the most robust activity occurring in the $500K to $750K, $750K to $1M, and $2M+ price bands. Moving in tandem with the pace of sales activity, days on market decreased a remarkable 25% when compared to one year ago. Average selling prices were up 8% while median selling prices
increased 7% — all signs of a healthy real estate market.

Click here for the Fourth Quarter 2017 Market Update Report

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!

Warmest regards,

SigB

2017 Third Quarter Market Update

HomesThe 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!

Warmest regards,

SigB

2017 Second Quarter Market Update

Homes

Sales activity in Santa Fe during the second quarter of 2017 continued to support the vigorous growth pattern established throughout the first quarter of the year.

According to the Santa Fe Association of Realtors MLS, sales prices for residential properties – both average and median – rose by 6% and total units sold increased by 11% when compared to the second quarter of 2016. This is the third consecutive year that second quarter average selling price and total units sold reported increased activity in the Santa Fe real estate market. Throughout the second quarter, all price segments experienced increased sales including an increase in units sold by 4% in homes up to $250K to a 150% increase in homes above $2M, which changed from four to ten units sold year over year.  Impressive sales activity also occurred in homes sold from $750K to $1M, a 53% increase from 55 to 84 units sold, and those sold in the  $500K-$750K range which registered a 32% increase when compared to the second quarter of 2016.

Click here for the Second Quarter 2017 Market Update Report

Click here for Sotheby’s Significant Sales, Volume II, Issue I

My hope is 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!

Warmest regards,

SigB