Q2 | 2020
Santa Fe
Market Update
3900 OLD SANTA FE TRAIL
Authentic Santa Fe-Style Offered at $1,695,000
a message from
at a glance
Neil Lyon
{Q2 | APR - JUN 2020}
santa fe
Associate Broker neil@neillyon.com 505.660.8600
4
%
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.
Change in Median Selling Price {2020 vs 2019}
-14
We 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, we wanted to bring your attention to additional positive indicators:
Change in Units Sold {2020 vs 2019}
1261 Units Sold
471k
$
•
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.
Like always, we are committed to providing the highest quality service and will to continue to support our clients with a suite of virtual marketing tools that are proving effective with buyers today.
Average Selling Price
We hope you find this market report to be a valuable resource and we look forward to working with you to meet your real estate needs. If you have any questions about the Santa Fe Market, please do not hesitate to reach out to me or any of our associates at 505.988.8088.
sothebysrealty.com
231 washington avenue brokerage
505.988.8088
326 grant avenue brokerage
505.988.2533
318 grant avenue brokerage
505.982.6207
Statistics and numbers are obtained from the Santa Fe Association of Realtors Multiple Listing Service and are deemed reliable but are not guaranteed and are subject to change. Data may not reflect all real estate activity in the market area. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity.
Featured Properties We invite you to explore our exclusive offerings at S OTHEBYS REALTY.C O M
74 LODGE TRAIL
Offered at $1,589,000 sothebysrealty.com/id/202000916 1428 CANADA DEL SUR
Offered at $1,250,000 sothebysrealty.com/id/202001583 18 VISTA HERMOSA
Offered at $2,375,000 sothebysrealty.com/id/201901530 2016 SENDA DE ANDRES
1301 HUMMINGBIRD COURT
Artful Design Hillside Home Offered at $1,295,000
Offered at $879,000 sothebysrealty.com/id/202002532 *in order from left to right, top to bottom
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{JUN 2020 | LAST 12 MONTHS}
{JUN 2020 | LAST 12 MONTHS}
Market Share
Average Selling Prices by Top 5 Firms
Sotheby’s International Realty vs. Local Competitors
Sotheby’s International Realty vs. Local Competitors
Market Share - All Prices
Market Share - $1M Above
ASP by Competitor $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000
SIR SIR SIR
Keller Williams
Santa Fe Properties
Barker Realty
All Other
Market Share All Price Ranges 26 % 13 % 11 % 11% 39 %
SIR
Santa Fe Properties
Barker Realty
Keller Williams
Santa Fe Firm 2 Properties
All Other
Market Share Over $1 Million
Sotheby’s International Realty | Santa Fe Firm 2 Firm 3 Firm 4 Combination of Additional Companies
56 % 13 % 7% 9% 15 %
Sotheby’s International Realty | Santa Fe Firm 2 Firm 3 Firm 4
Barker Realty
Keller Williams
Firm 3
Firm 4
RE MAX First
Firm 5
Average Selling Prices by Brokerage $
763,168
Sotheby’s International Realty - Santa Fe
$
545,230 Firm 2
$
477,089 Firm 3
$
457,722 Firm 4
$
393,629 Firm 5
Combination of Additional Companies
By dollar volume in 2019 - 2020. Obtained from the Santa Fe Association of Realtors Multiple Listing Service.
Q2 Market Share
/ The Santa Fe Q2 2020 Market Update
{JUN 2020 | LAST 12 MONTHS}
Sold Dollar Volume by Select Area
Active Listings by Select Area Listed by Sotheby’s International Realty
Sold by Sotheby’s International Realty
SIR Active Listings by Area SIR Sold Volume by Area $50,000,000
$20,000,000
$45,000,000
$18,000,000
$40,000,000
$16,000,000 $14,000,000
$35,000,000
$12,000,000
$30,000,000
$10,000,000
$25,000,000
$8,000,000
$20,000,000
$6,000,000
$15,000,000
$4,000,000
$10,000,000
$2,000,000
$5,000,000
$0
Las Campanas
Eastside
Northwest of City Limits
SIR Market Share By Active Listings Dollar Volume as of June 30, 2020
59 % 62 % 61 % 79%
Las Campanas Eastside Northwest of City Limits Tesuque
Tesuque
Las Campanas
Eastside
Northwest of City Limits
Tesuque
SIR Market Share By Sold Dollar Volume July 1, 2019 - June 30, 2020
66 % 29 % 50 % 43 %
Las Campanas Eastside Northwest of City Limits Tesuque
Area Highlights
/ The Santa Fe Q2 2020 Market Update
Sales & Price Comparison
Units Sold Comparison
Q2 | All Santa Fe | Five Years
Q2 | All Santa Fe | Five Years
|Median vs ASP vs units
|
units sold by price points
Average Selling Price Median Selling Price Total Units Sold 1,600
$550,000
1,800
$500,000
1,600
$450,000
1,400
$400,000
1,200
$350,000
1,000
$300,000
800
$250,000
600
$200,000
400
200
$150,000
200
0
$100,000
0
2016
2017
Average Selling Price
2018
2019
1,400 1,200 1,000 800 600 400
2016
2017
2018
2019
2020
Median Selling Price
Total Units Sold
2020 Up to $250K $250K-$500K $500K0-$750K $750K-$1M $1M-$2M Above $2M
Total Units Sold By Price Point {Units | Percent}
Q2
Average Selling Price
Median Selling Price
Total Units Sold
{2020 vs 2019}
Change
5%
4%
-14%
2020
$483,366
$375,000
1261
2019
$459,482
$360,000
1459
2018
$436,432
$333,000
1587
2017
$411,921
$319,000
1400
2016
$388,664
$300,000
1256
Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
-31%
-10%
-7%
4%
1%
-29%
-14%
2020
241 | 19%
626 | 50%
229 | 18%
85 | 7%
70| 6%
10 | 1%
1261
2019
351 | 24%
696 | 48%
247 | 17%
82 | 6%
69 | 5%
14 | 1%
1459
2018
483 | 30%
693 | 44%
224 | 14%
97 | 6%
79 | 5%
11 | 1%
1587
2017
487 | 35%
571 | 41%
187 | 13%
84 | 6%
60 | 4%
11 | 1%
1400
2016
464 | 37%
536 | 43%
139 | 11%
55 | 4%
56 | 4%
6 | 0%
1256
Q2 {2020 vs 2019}
Change
Market Snapshot
/ The Santa Fe Q2 2020 Market Update
Listing Inventory
Days On Market
All Santa Fe
Q2 | All Santa Fe | Five Years
Days on Market - 5 Years Active Listings - Historic
600
450 400
500
350
400
300
300
250
200
200 150
100
100
0
2016
50
2017
2018
2019
2020
0
Up to $250K
$250K - $500K
$500K - $750K 2018
2018
2019
$750K - $1M
$1M - $2M
$2M and Up
Up to $250K $250K-$500K $500K-$750K $750K-$1M $1M-$2M Above $2M
2020
2019
Average Days on Market
2020
Active Listings for all of Santa Fe County as of June 30, 2020
Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
9%
-4%
-23%
-31%
2%
126%
-3%
2020
81
52
60
75
171
498
71
Q2 {2020 vs 2019}
Change
Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
-39%
-44%
-23%
-26%
-14%
-18%
-32%
2019
74
54
78
109
168
220
73
2020
159
219
147
100
136
63
824
2018
94
66
93
130
156
262
88
2019
259
389
192
135
158
77
1210
2017
141
114
150
191
187
303
139
2018
272
334
204
139
166
85
1200
2016
147
140
171
231
213
300
154
Q2 {2020 vs 2019}
Change
Market Snapshot
/ The Santa Fe Q2 2020 Market Update
Extraordinary Results We celebrate the notable success of our associates and clients
40 TIERRA GRANDE
Contemporary Pueblo-Style Home Last asking $780,000 3520 & 3522 GAIA WAY
Mountain Getaway Last asking $1,195,000 1004 MONTE SERENA
Sangre de Cristo Serenity Last asking $1,750,000 1149 E ALAMEDA STREET
Ultimate Santa Fe Lifestyle Last asking $1,495,000 11 E ARROWHEAD CIRCLE
Striking Style In Las Campanas Last asking $1,595,000
*in order from left to right, top to bottom
sothebysrealty.com
PHOTO BY GIAMMARCO BOSCARO ON UNSPLASH
w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com
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