Santa Fe, NM | mls: 201500305
Santa Fe Market Update First Quarter 2015 SANTA FE BROKERAGES Washington Avenue Brokerage | t. 505.988.8088 Grant Avenue Brokerage | t. 505.988.2533 East Palace Brokerage | t. 500.982.6207
sothebyshomes.com
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, city and county home sales declined by 10 percent during the first quarter of 2015 when compared to the first quarter of 2014. In addition to a decline in closed sales, the average and median prices also declined slightly. The month of March 2015, however, reflected a slight improvement in the number of closed sales from one year ago which may be a harbinger of things to come as we approach the spring and summer seasons. As you will see on page 5 of this report 79 percent of all reported closed sales occurred in price ranges under $500,000 with a corresponding significant decline in available inventories in the same price bands. In fact, inventories in all but one price range have decreased noticeably which may support the possibility of an anticipated upward trend in sales prices throughout the second and third quarters of 2015.
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
417 East Palace Avenue Santa Fe, NM 87501 t: 505.982.6207
FIRST QUARTER ACTIVITY Units Sold
800
Avg. DOM
Avg. Sales Price
$600,000
719 700
600
$478,960 $436,673
$406,306
$409,115
$431,593
$380,603
507
500
$500,000
$453,183
$351,452
$384,788
424 385
400
347
$400,000
479
383
$300,000
342
280
300
200
476
$370,358
171
177
190
200
205
220
238
$200,000 209
189
187 $100,000
100
0
$0
Number of Units Sold, on Market2009 (DOM), and Listings 2015 Sold (Single Family, 2006 Average 2007 Days 2008 2010 Average 2011Sales Price 2012 for Residential 2013 2014 Condos, and Townhouses) for the First Half of 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, and 2014 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 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. 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
845 VISTA CATEDRAL MLS 201501036 | $2,375,000 Exquisite adobe has enticing mountain views, abundant natural light, and wonderful living spaces. Matthew Sargent 505.490.1718
7 CAMINO DON PATRON MLS 201500047 | $1,175,000 Tranquil 2.64-acre contemporary is accented by elegant landscaping and offers stunning views. David Woodard 505.920.2000
31 GRAYTHORN MLS 201500445 | $899,000 Sangre de Cristo and Sandia Mountain views can be enjoyed from this lovely Las Campanas home. Tim and Paula Galvin 505.795.5990 | 505.795.5980
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
FIRST QUARTER CLOSED SALES 2013
2014
2015
% Change (2015 v 2014)
UP TO $249,999
186
210
209
-0.48%
$250,000-$499,999
167
156
169
8.33%
$500,000-$749,999
39
54
63
16.66%
$750,000-$999,999
19
34
19
-44.12%
$1M-$2M
11
20
16
-20.00%
ABOVE $2M
2
2
3
50.00%
PRICE RANGE
250
200
150
100
50
0 2013
Up to $249,999
2014
$250,000-‐$499,999
$500,000-‐$749,999
2015
$750,000-‐$999,999
1MIL-‐2MIL
Above 2MIL
FIRST QUARTER AVERAGE DAYS ON MARKET PRICE RANGE
2013
2014
2015
% Change (2015 v 2014)
700
600
UP TO $249,999
183
179
180
0.56%
$250,000-$499,999
206
174
164
-5.75%
$500,000-$749,999
287
253
209
-17.39%
$750,000-$999,999
224
225
360
60.00%
200
$1M-$2M
317
176
221
25.57%
100
ABOVE $2M
630
56
208
271.43%
500
400
300
0 2013
Up to $249,999
2014
$250,000-‐$499,999
$500,000-‐$749,999
2015
$750,000-‐$999,999
1MIL-‐2MIL
Above 2MIL
FIRST QUARTER AVERAGE & MEDIAN SALES PRICES $1,000,000
YEAR 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$431,593 $478,960 $436,673 $409,115 $384,788 $453,183 $406,306 $351,452 $380,603 $370,358
$345,000 $380,000 $310,000 $324,500 $300,000 $300,000 $295,000 $278,500 $280,400 $272,500
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0 2006
2007
2008
2009
2010
Average Sales Price
sothebyshomes.com/santafe
2011
2012
Median Sales Price
2013
2014
2015
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
LISTING INVENTORY AS OF 3/31: SANTA FE COUNTY PRICE RANGE UP TO $249,999
2013
2014
2015
% Change (2015 v 2014)
260
243
176
-27.57%
500
450
400
350
$250,000-$499,999
375
431
368
-14.62%
$500,000-$749,999
195
168
172
2.38%
$750,000-$999,999
133
133
110
-17.29%
300
250
200
150
100
ABOVE $1M
208
209
178
-14.83%
50
0 2013
0-‐$249,999
FIRST QUARTER SALES BY PRICE RANGE PRICE RANGE
2014
2015
UP TO $249,999
44%
44%
$250,000-$499,999
33%
35%
$500,000-$749,999
11%
13%
$750,000-$999,999
7%
4%
$1M-$2M
4%
3%
ABOVE $2M
1%
1%
2014
$250,000-‐$499,999
$500,000-‐$749,999
2015
$750,000-‐$999,999
2014 2014
$1,000,000 and Above
2015 2015
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 250
200
150
100
Obtained from the Santa Fe Association of Realtors Multiple Listing Service. Deemed reliable but not guaranteed and subject to change.
50
0 January
February
March
April
May 2011
June 2012
2013
July 2014
August
September
October
November
December
2015
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 may not reflect all real estate activity in the market area.
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS NEW YORK, NY | Web: 0019997 | $1,095,000 LOS ANGELES, CA | Web: 0027163 | $1,550,000 HOUSTON, TX | Web: 1240040 | $1,099,000 RESORT MARKETS TOPANGA, CA | Web: 1310038 | $1,395,000 PALM BEACH, FL | Web: 0076342 | $1,399,000 SANTA BARBARA, CA | Web: 0592885 | $1,499,000 FOREIGN MARKETS MUMBAI | Web: 7SWJ7M | $1,759,493 SOUTH AFRICA | Web: VXMN9L | $823,291 COSTA RICA | Web: MJJYKH | $1,650,000 sothebysrealty.com
Claes Oldenburg, Screwarch Bridge (State III); Aquatint, etching and monoprint in colors, 1981; Estimate $30,000-50,000
AUCTION CALENDAR MAY 2015 Prints & Multiples New York 01-02 May RM Sotheby’s: The Andrews Collection Fort Worth 02 May Impressionist & Modern Art Evening Sale New York 05 May Impressionist & Modern Art Day Sale New York 06 May Finest & Rarest Wines New York 08-09 May Magnificent Jewels & Noble Jewels Geneva 12 May Contemporary Art Evening Auction New York 12 May Important Watches Geneva 13 May Important Chinese Works of Art London 13 May Contemporary Art Day Auction New York 13 May
Sotheby’s | Stack’s Bowers Galleries The D. Brent Pogue Collection of Early United States Coins — Sale 1 New York 19 May Finest & Rarest Wines London 20 May American Art New York 20 May Design Paris 21 May Photographs London 23 May Latin American Art Modern & Contemporary New York 26-27 May Impressionist & Modern Art New York 27 May Music, Continental & Russian Books & Manuscripts London 28 May
We invite you to explore our real estate listings at www.sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015
SIGNIFICANT SALES | Q1 2015
SANTA FE EQUESTRIAN CENTER | MLS 201302173 | $2,900,000 list Darlene Streit | 505.920.8001 (listing broker) Elayne Patton | 505.690.8300 (selling broker)
532/538/538-1/2 AGUA FRIA | MLS 201404579| $2,100,000 list Stedman Kehoe Hirsch | 505.670.5566 (listing and selling brokers)
934 EL CAMINTO | MLS 201402543 | $1,950,000 list Gary Bobolsky | 505.470.0927 (listing broker) Alan and Anne Vorenberg | 505.470.3118 (selling brokers)
1055 OLD SANTA FE TRAIL | MLS 201403563 | $1,650,000 list Paige I. Maxwell | 505.660.4141 (listing and selling broker)
540-D EAST ALAMEDA | MLS 201401104 | $1,595,000 list Neil Lyon | 505.780.0310 (listing broker) Susan Kline and Lynden Galloway | 505.780.0310 (selling brokers)
22 CLEMATIS | MLS 201500115 | $965,000 list Abigail Davidson | 505.570.0335 (listing broker)