Santa Fe Q3 2014 Market Report

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

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 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

sothebyshomes.com/santafe

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