Santa Fe, NM | mls: 201305086
Santa Fe Market Update Third 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 During the third quarter of 2014, the real estate market in Santa Fe positioned itself as relatively stable with median prices showing a slight decline and average prices reflecting an ever-so-slight increase, according to the Santa Fe Association of Realtors. 77 percent of sales in the market remain under $500,000 while sales at or above that mark remain static as well. Average days on market in the upper end of the market ($1M and above) declined rather dramatically even as inventory in the same price ranges increased by more than 12 percent from one year ago. As the final quarter of 2014 approaches, the catch word to describe the current local real estate market appears to be “stable,” a welcome sign as we prepare to enter the final stretch of the year.
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
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
711 CAMINO CORRALES MLS 201403956 | $4,250,000 Magnificent and historic double adobe hacienda on 4.5 acres off the Old Santa Fe Trail. Neil Lyon 505.660.8600
855 EL CAMINITO MLS 201403127 | $2,395,000 Eastside estate includes a classic 3,200 sq. ft. three-bedroom John Gaw Meem adobe. Stedman Kehoe Hirsch 505.670.5566
39 YANA DRIVE MLS 201403329 | $1,199,000 Irreplaceable Tesuque estate includes an artist’s studio, a chapel, and 3BR, 5,129-sq. ft. home. DeAnne Ottaway 505.690.4611
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
CLOSED SALES 2012
2013
2014
% Change (2014 v 2013)
Up to $249,999
597
613
669
9.14%
$250,000-$499,999
509
627
608
-3.03%
$500,000-$749,999
188
188
208
10.64%
$750,000-$999,999
80
95
95
0.00%
$1M-$2M
56
60
63
5.00%
Above $2M
11
10
11
10.00%
PRICE RANGE
AVERAGE DAYS ON MARKET 2012
2013
2014
% Change (2014 v 2013)
Up to $249,999
198
166
171
3.01%
$250,000-$499,999
201
167
168
0.60%
$500,000-$749,999
258
203
194
-4.43%
$750,000-$999,999
327
229
249
8.73%
$1M-$2M
260
227
195
-14.09%
Above $2M
515
427
292
-31.62%
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
$355,946 $405,018 $446,568 $485,272 $479,889 $400,377 $401,019 $417,589 $391,329 $389,144 $390,731
$284,500 $309,000 $345,000 $375,000 $330,000 $297,000 $305,000 $299,578 $285,500 $300,000 $293,250
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SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
LISTING INVENTORY as of 9/30: santa fe county 2012
2013
2014
% Change (2013 v 2014)
Up to $249,999
329
307
322
4.89%
$250,000-$499,999
461
532
601
12.97%
$500,000-$749,999
214
261
297
13.97%
$750,000-$999,999
153
159
180
13.21%
ABOVE $1M
249
239
269
12.55%
PRICE RANGE
SALES BY PRICE RANGE PRICE RANGE
2013
2013
2014
Up to $249,999
38%
40%
$250,000-$499,999
39%
37%
$500,000-$749,999
12%
12%
$750,000-$999,999
6%
6%
$1M-$2M
4%
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 New York, NY | Web: 0137363 | $1,395,000 San Francisco, CA | Web: 0086970 | $1,150,000 Houston, TX | Web: 1231623 | $1,135,000 resort markets Malibu, CA | Web: 0172715 | $1,395,000 Palm Beach, FL | Web: 0076041 | $1,300,000 Santa Barbara, CA | Web: 0592855 | $1,495,000 foreign markets Italy | Web: X9KSXW | $1,421,189 France | Web: VNKDFW | $1,614,987 British Virgin Islands | Web: GET2NC | $1,250,000 sothebysrealty.com
SIGNIFICANT SALES | Q3 2014
54 HEADQUARTERS TRAIL | MLS 201104063 | $3,250,000 list Nancy Lehrer | Tara Earley | 505.490.9565 | 505.660.1734
1125 CANYON ROAD | MLS 201302481 | $1,995,000 list Darlene Streit | 505.920.8001
1135 PIEDRA RONDO | MLS 201304194 | $1,400,000 list Susan Shields | 505.470.3286
1001 PASEO BARRANCA | MLS 201403069 | $1,200,000 list Ashley Margetson | 505.920.2300
920 PASEO DE ANDRES | MLS 201402444 | $1,195,000 list Emily Garcia | 505.699.6644
12 HOLLYHOCK | MLS 201401542 | $1,185,000 list Mike Baker | 505.690.1051