2022 Second Quarter Market Update

Homes

The real estate market in Santa Fe has continued to be strong through the second quarter of 2022.   According to data provided by the Santa Fe Association of Realtors, Q2 2022 resulted in a 15% increase in average sales price, to $801K, compared to $694K in Q2 2021.  However, sales volume year over year has declined sharply with a 23.8% decrease in total units sold. New listings coming to the market have remained essentially stable at 700 for Q2 2022 versus 705 for the same period last year.

Sales in the $1M-$2M price category have remained strong, representing 19.4% of total sales.  Sales of homes in this price range increased 14% from 86 homes in Q2 2021 to 98 homes in Q2 2022. It should be noted that sales of homes $2M+ decreased by 29%, from 28 in Q2 2021 to 20 in Q2 2022. Overall days on market dropped 20.6% compared to a year ago, an average of 29 days in Q2 2021 down to 23 days average on market in Q2 2022.

While our robust market shows continued signs of buyer demand, Santa Fe remains one of the best priced luxury markets in the Southwest.  With more people working remotely in various industries, Santa Fe is now a primary home market for individuals and families seeking a high quality of life at more attainable price points than other luxury communities.   According to Drew Lamprich, Qualifying Broker for Sotheby’s International Realty in Santa Fe, “The pandemic has brought more attention to Santa Fe than ever before. We have become a primary home market [for many]…that allows people to invest more.”

Click here for the 2022 Second Quarter Market Update.

As always, we are committed to providing the highest quality service and will continue to support you with a suite of traditional and virtual marketing tools that are proving effective for both buyers and sellers today.  With this installment off our quarterly report, we are now able to provide you with more than the snapshot data cited above.  Follow the link above to access the entire Sotheby’s International Realty 2022 Second Quarter Market Update.

Our goal in sharing market data with you is to create a better understanding of the trends affecting our unique housing market.  We hope you find this market report to be a valuable resource and 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 Caroline at 505.699.0909 or Jeff at 505.515.9979.

Warmest regards,

Santa Fe – Among World’s Greatest Places in 2021 – TIME Magazine

Santa Fe, New Mexico
from TIME Magazine, July 2021

Santa Fe is steeped in history. This year, it welcomed the arrival of Bishop’s Lodge, an Auberge Resorts Collection retreat nestled near the Santa Fe National Forest. A chapel built in 1874 by the first Archbishop of Santa Fe stands at the center of this luxury resort and ranch, where guests can take horses on guided trail rides. In keeping with the Southwestern spirit, the Santa Fe Railyard, a cultural hub that offers commuter train service, leisure activities and an outdoor rail trail, is now home to a new outpost of Bosque Brewing Company as well as the Opuntia Café, which has an indoor garden and a selection of seasonal bowls and toasts. Elsewhere, a pandemic surge in bikers inspired volunteers from the Santa Fe Fat Tire Society to build a five-mile loop at Galisteo Basin Preserve. —Sucheta Rawal

Click here for full article.

¡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.

TIME MAGAZINE just announced Santa Fe among the World’s Greatest Places in 2021:  https://time.com/collection/worlds-greatest-places-2021/6079299/santa-fe-new-mexico/

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

For a complete guide to articles on Santa Fe offerings, visit the Tourism Santa Fe website at SantaFe.org.

2022 FirstQuarter Market Update

Homes

The desire to own property in and around Santa Fe continues to create a dynamic market across all price ranges. It is not uncommon in this strong sellers’ market to experience multiple offers on a property shortly after appearing on the MLS. Buyers are encouraged to come prepared to make well-informed decisions and to move quickly once they find the property that most appeals to their goals.

2021’s fast-paced market continued through the first quarter of 2022 and according to our local MLS, Q1 2022 resulted in a 16% increase in average sales price, to $670K, and a 13% decrease in total units sold. Available inventory decreased 39% from one year ago, compounding the previous 48% decrease in Q1 2021 compared to Q1 2020 for a two-year Q1 decrease of 68%.

Sales in the $1M-$2M price category have remained strong, from 80 homes in Q1 2021 to 79 homes in Q1 2022. In addition, sales of homes $2M+ increased by 41%, from 17 in Q1 2021 to 24 in Q1 2022. Overall days on market dropped 44% compared to a year ago, an average of 68 days in Q1 2021 down to 38 days average on market in Q1 2022. While our brisk market shows continued signs of buyer demand, Santa Fe remains one of the best priced luxury markets in the Southwest.

Click here for the 2022 First Quarter Market Update.

As always, we are committed to providing the highest quality service and will continue to support you with a suite of traditional and virtual marketing tools that are proving effective for both buyers and sellers today. Our goal in sharing market data with you is to create a better understanding of the trends affecting our unique housing market. We hope you find this market report to be a valuable resource and 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 Caroline at 505.699.0909 or Jeff at 505.515.9979.

Warmest regards,

2021 Fourth Quarter Market Update

Homes

Sales activity for residential housing throughout the fourth quarter of 2021 remained historically strong resulting in a record-breaking year for the Santa Fe residential real estate market as well as another record year for our firm. As a result, according to the Santa Fe MLS, the average selling price increased 16% to $615K, compared to $531K one year ago. Total units sold increased 12 % to 3,721 in 2021 compared to 3,310 in 2020. The average sales price achieved at our firm ended the year at slightly more than $1M, far outperforming the average sales price of all competitors.

Inventory diminished in all price sectors resulting in an overall 47% decline further supporting what has been a very strong sellers’ market, with 359 active listings at the end of 2021, compared to 674 active listings at the end of 2020. Average days on market declined by 33% in all price ranges to 46 days, compared to 69 days one year ago. The largest gains in closed sales occurred in the $750K to $1M price sector, up 44% from 258 in 2020 to 371 in 2021; $1M to $2M, up 62% or 250 in 2020 to 405 in 2021, and in the price range above $2M which saw an increase in sales of 108%, from 49 sales in 2020 to 102 sales in 2021.

As we enter 2022, buyer interest in Santa Fe remains undiminished and is showing early signs of continued growth. The shift in home buyers’ priorities since the pandemic’s onset has led to increased focus on destination markets such as Santa Fe, as buyers search for more space, access to nature, and lifestyle opportunities. Our sales associates are ready to help you navigate this robust market.

2022 brings exciting change for our brokerage as we celebrate Gregg Antonsen’s retirement as Manager and Qualifying Broker and Drew Lamprich stepping into the role.

Click here for the 2021 Fourth Quarter Market Update.

As always, our goal in sharing market data with you is to create a better understanding of the trends affecting our unique housing market. We are committed to providing the highest quality service and will continue to support you with a suite of virtual marketing tools that are proving effective with buyers today. We hope you find this market report to be a valuable resource and 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 Caroline at 505.699.0909 or Jeff at 505.515.9979.

Warmest regards,

2021 Third Quarter Market Update

Homes

Performance in the residential housing market in Santa Fe throughout the third quarter of 2021 was remarkably strong in all price sectors. As a result, according to the Santa Fe MLS, average sales price increased by 19% to $608K from $509K one year ago, while the median sales price increased by 13% to $450K compared to $399K one year ago. The average sales price at our firm ended the third quarter at $962K, an increase from $910K as noted in our second quarter report.

Inventory of existing homes for sale continued a downward trend in all price sectors resulting in an overall 33% decline from one year ago. Average days on market was down 31% overall with the largest decreases impacting homes priced in the following price categories: $750K to $1M, down by 50%, $1M to$2M, down 42%, and $2M+, down 66%. Units sold increased dramatically in the same price bands resulting in a 44% increase in units sold, from $750K to $1M, or 175 units in 2020 compared to 252 units sold in 2022. This noted a 74% increase in units sold, from $1M to $2M, or 164 units in 2020 compared to 286 units through the third quarter of 2021, and an astounding 235% increase in sales above $2M, rising from 23 sales during the same time frame in 2020 to 77 sales in 2021.

In summary, buyer demand for existing housing in Santa Fe remains at or near historic levels as we approach the final quarter of the year.

Click here for the Third Quarter 2021 Market Update

As always, our goal in sharing market data with you is to create a better understanding of the trends affecting our unique housing market. We are committed to providing the highest quality service and will continue to support you with a suite of virtual marketing tools that are proving effective with buyers today. We hope you find this market report to be a valuable resource and 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 Caroline at 505.699.0909 or Jeff at 505.515.9979.

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.

2021 Second Quarter Market Update

Homes

With the close of the second quarter of 2021, the housing market remained comfortably ahead of last year, one that was a record year for Sotheby’s International Realty – Santa Fe Brokerage. According to the Santa Fe MLS, through the first half of 2021, average sales price increased 25.7%, to $591K, compared to the same time frame one year ago, while median sales price rose more than 16%, to $435K. The number of units sold increased 34.4% and the average sales price at our firm was $910K.

In Q2 2021, buyer demand remained high in Santa Fe with sales increases across all price bands. Inventory was down significantly in all price categories with the exception of homes $2M+, which increased 7%. Average days on market was down 54% for homes priced $1-$2M and down 72% for homes priced above $2M. Sales of homes priced from $1M-$2M increased 143%, from 70 homes sold through Q2 2020 to 170 homes sold through Q2 2021.

Click here for the Second Quarter 2021 Market Update

As always, our goal in sharing market data with you is to create a better understanding of the trends affecting our unique housing market. We are committed to providing the highest quality service and will continue to support you with a suite of virtual marketing tools that are proving effective with buyers today. We hope you find this market report to be a valuable resource and 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 Caroline at 505.699.0909 or Jeff at 505.515.9979.

Warmest regards,

2021 First Quarter Market Update

Homes

When you speak with any of our brokers, they will tell you they have never been busier and that there’s never been more of a desire to own property in and around Santa Fe.  It is not unusual in this strong sellers’ market to experience multiple offers shortly after a property appears on the MLS.  Buyers are encouraged to come prepared to make well informed decisions and to move quickly once they find the property that most appeals to their desires.

According to our local MLS, 2020’s fast-paced market continued to gain momentum through the first quarter of 2021 resulting in a 17% increase in average sales price, to $581K, and a 16.8% increase in total units sold.  Also notable is that available inventory decreased a dramatic 51% from one year ago.  Just as dramatic has been the notable increase in sales in the $1M-$2M price category, from 40 homes in Q1 2020 to 78 homes in Q1 2021, an increase of 95% year over year.  In addition, sales of homes $2M+ increased a staggering 143%, from seven in Q1 2020 to 17 in Q1 2021.

While our market is brisk and shows signs of continued buyer demand, Santa Fe remains one of the best priced destination markets in the Southwest.

Click here for the First Quarter 2021 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 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,

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,