Santa Fe, NM | mls: 201302673
Santa Fe Market Update Second Quarter 2014 Santa Fe Brokerages Washington Avenue Brokerage | t. 505.988.8088 Grant Avenue Brokerage | t. 505.988.2533 East Palace Brokerage | t. 500.982.6207
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Statistics and numbers are obtained from the Santa Fe Association of Realtors Multiple Listing Service. They are deemed reliable but are not guaranteed and are subject to change. They many not reflect all real estate activity in the market area.
A MESSAGE FROM OUR QUALIFYING BROKER: Gregg Antonsen, t: 505.988.2533 | gregg.antonsen@sothebyshomes.com According to the Santa Fe Association of Realtors (SFAR), in terms of the number of closed sales in 2014, this year’s real estate market in Santa Fe is off to its best start since 2007. During the second quarter of 2014, closed sales in Santa Fe County increased 4.7 percent. These sales were led primarily by the lower end of the market in that roughly 77 percent of all recorded sales were under $500,000. This factor is also reflected in the average sales price of $388,002. A silver lining to this message is that the first five months of 2014 showed an increase of seven percent in closed sales from one year ago. During the second quarter of 2014, sales in all but one price category increased nicely with healthy increases of 24.52 percent in the $750,000 to $999,999 sectors; 22.58 percent in the $1 million to $2 million sectors; and an increase of 14.28 percent in sales above $2 million. All of this translates to continued momentum as we continue through the summer sales months. The message to buyers: Santa Fe is open for business in a real estate market that continues to have attractive opportunities. santa fe brokerages | sothebyshomes.com/santafe 231 Washington Avenue Santa Fe, NM 87501 t: 505.988.8088
326 Grant Avenue Santa Fe, NM 87501 t: 505.988.2533
Units Sold
417 East Palace Avenue Santa Fe, NM 87501 t: 505.982.6207
Avg. DOM
Avg. Sales Price
800
$600,000 719
700
$478,960 611
$436,673
600 $431,593 507 500
$396,505
$384,788
$380,729 $351,452
$385,130
$324,500
$400,000
470
424
385
400
382 347
$300,000
342
280
300
200
$500,000
$453,183
153
171
177
190
200
205
220
233
209
$200,000 189 $100,000
100
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
$0
Number of Units Sold, Average Days on Market (DOM), and Average Sales Price for Residential Listings Sold (Single Family, Condos, and Townhouses) for the First Half of 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, and 2014
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. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. 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.
featured listings
VILLA SERENA MLS 201402291 | $4,200,000 Amazing 4.6-acre compound includes a main residence, guesthouses, and lush landscaping. Roxanne Apple 505.660.5998
1422 BISHOPS LODGE ROAD MLS 201401876 | $3,995,000 Wonderful 3.71-acre Tesuque compound features a 4-bedroom home and 3-bedroom guesthouse. Tierra Team 505.780.1157
COUNTY ROAD 142 WONDERLAND COMPOUND MLS 201402833 | $1,295,000 Magical 30-acre AbiquiĂş compound bordering the Chama River includes a 2,800-square-foot home. Cindy Volper 505.901.1436
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
CLOSED SALES 2012
2013
2014
% Change (2014 v 2013)
Up to $249,999
374
388
436
12.37%
$250,000-$499,999
308
367
361
-1.63%
$500,000-$749,999
119
108
122
12.96%
$750,000-$999,999
46
53
66
24.52%
$1M-$2M
38
31
38
22.58%
5
7
8
14.28%
PRICE RANGE
Above $2M
AVERAGE DAYS ON MARKET 2012
2013
2014
% Change (2014 v 2013)
Up to $249,999
194
169
173
2.36%
$250,000-$499,999
209
184
186
1.08%
$500,000-$749,999
296
215
215
0.00%
$750,000-$999,999
348
254
228
-10.23%
$1M-$2M
236
201
204
1.49%
Above $2M
670
413
258
-37.53%
PRICE RANGE
AVERAGE AND MEDIAN SALES PRICES, FULL YEAR YEAR 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$347,048 $400,054 $443,524 $479,661 $478,783 $394,606 $390,623 $431,065 $389,076 $379,229 $388,002
$279,500 $308,500 $345,000 $376,625 $325,000 $309,000 $300,000 $305,175 $289,000 $291,250 $285,000
sothebyshomes.com/santafe
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
LISTING INVENTORY as of 6/30: santa fe county 2012
2013
2014
% Change (2013 v 2014)
Up to $249,999
338
315
263
-16.51%
$250,000-$499,999
488
535
520
-2.80%
$500,000-$749,999
239
250
267
6.80%
$750,000-$999,999
151
167
166
-0.60%
ABOVE $1M
252
239
259
8.37%
PRICE RANGE
SALES BY PRICE RANGE PRICE RANGE
2013
2013
2014
Up to $249,999
41%
42%
$250,000-$499,999
38%
35%
$500,000-$749,999
11%
12%
$750,000-$999,999
6%
6%
$1M-$2M
3%
4%
Above $2M
1%
1%
2014
Up to $249,999
$500,000-$749,999
$1M-$2M
$250,000-$499,999
$750,000-$999,999
Above $2M
RESIDENTIAL SOLDS BY MONTH - ALL PROPERTY TYPES
Obtained from the Santa Fe Association of Realtors Multiple Listing Service. Deemed reliable but not guaranteed and subject to change.
On the market
left to right from top to bottom:
metropolitan markets The Woodlands, TX | Web: 1250120 | $925,000 New York, NY | Web: 0019518 | $1,4000,000 Los Angeles, CA | Web: 0308015 | $1,469,900 resort markets Sag Harbor, NY | Web: 0056469 | $1,299,000 Hyannis Port, MA | Web: 0402947 | $1,450,000 Santa Fe, nm | Web: 0575054 | $1,200,000 foreign markets Turks & Caicos | Web: W3LJH5 | $1,900,000 SPAIN | Web: 87DEQ8 | $1,350,801 CANADA | Web: KXW3JP | $1,792,792 sothebysrealty.com
SIGNIFICANT SALES | Q2 2014
90 TESUQUE RIDGE ROAD | MLS 201300393 | $4,800,000 list Chris Webster | 505.780.9500
1207 INDIAN ROCK LANE | MLS 201306045 | $3,125,000 list David Rosen | Christopher Rocca | 505.470.9383 | 505.490.2999
536 Camino Los Altos | MLS 201305029 | $1,799,000 list Ray Rush | Tim Van Camp | 505.577.5117 | 505.690.2750
731 Calle Picacho | MLS 201400220 | $1,500,000 list Katherine Blagden | 505.490.2400
81 BLUESTEM DRIVE | MLS 201204510 | $1,075,000 list Ann Brunson | Ed Schroeder | 505.690.7885 | 505.690.1007
SPIRIT ROCK RANCH | MLS 201304475 | $995,000 list Ricky Allen | 505.470.8233