Q1 | 2018
Santa Fe
Market Update
STUNNING HOME IN THE HIGH SUMMIT
sothebyshomes.com/0566112 Offered at $1,850,000
at a glance {Q1 | JAN - MAR 2018}
santa fe
7
%
Change in Median Selling Price {2018 v 2017}
16
%
Change in Units Sold {2018 v 2017}
697 Units Sold
421.7k
$
Average Selling Price
231 washington avenue brokerage
505.988.8088
326 grant avenue brokerage
505.988.2533
318 grant avenue brokerage
505.982.6207
a message from
Gregg Antonsen
Santa Fe Senior Vice President and Qualifying Broker Santa Fe’s real estate market continued to move at a robust and healthy pace throughout the first quarter of 2018. Total residential sales of single-family homes, townhomes and condos in Santa Fe County rose by 16% over the same period last year, according to the Santa Fe Association of Realtors MLS. Median prices of residential sales rose by 7% while the average selling price rose by 5% to $422K. The first quarter also resulted in a significant decrease in days on market in all price categories with the exception of homes priced from $2M and above. Inventories of existing residential housing decreased to their lowest level in the last three years in all price categories with the exception of homes priced from $2M and above which remained relatively flat. As always, our goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market. We hope you find it to be a valuable resource, and we look forward to working with you to meet your real estate needs now and in the future. If you have any questions about the Santa Fe market, please do not hesitate to reach out to me.
sothebyshomes.com/santafe 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 H O ME S.C O M/ SANTAF E
MODERN LIVING IN CLASSIC SANTA FE STYLE
930 Cerro de la Paz | Offered at $3,000,000 sothebyshomes.com/0566088
233 CANYON ROAD - CAFFE GRECO
Offered at $3,995,000 sothebyshomes.com/0576125 150 PASEO ARAGON
Offered at $3,795,000 sothebyshomes.com/ 0576074 825 EL CAMINITO
Offered at $3,200,000 sothebyshomes.com/0566046 137 THUNDERCLOUD ROAD
Offered at $2,490,000 sothebyshomes.com/0565366 *in order from left to right, top to bottom
sothebyshomes.com/santafe
{MAR 2018 | LAST 12 MONTHS}
Market Share
Sotheby’s International Realty vs. Local Competitors
Market Share - All Prices
SIR
Firm 2
Firm 3
Firm 4
SIR
All Other
Market Share All Price Ranges 30 % 12 % 11 % 11 % 36 %
Market Share - $1M Above
Firm 2
Firm 3
Firm 4
All Other
Market Share Over $1 Million
Sotheby’s International Realty | Santa Fe Firm 2 Firm 3 Firm 4 Combination of Additional Companies
By dollar volume in 2017 - 2018. Obtained from the Santa Fe Asscociation of Realtors Multiple Listing Service.
64 % 11 % 11 % 10 % 4%
Sotheby’s International Realty | Santa Fe Firm 2 Firm 3 Firm 4 Combination of Additional Companies
{MAR 2018 | LAST 12 MONTHS}
Average Selling Prices by Top 5 Firms Sotheby’s International Realty vs. Local Competitors
ASP by Competitor $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0
SIR
Firm 2
Firm 3
Firm 4
Firm 5
Average Selling Prices by Brokerage $
685,268
Sotheby’s International Realty - Santa Fe
$
493,149 Firm 2
$
470,950 Firm 3
$
394,254 Firm 4
Q1 Market Share
$
346,716 Firm 5
/ The Santa Fe Q1 Market Update
Active Listings by Select Area Listed by Sotheby’s International Realty
SIR Active Listings by Area
$80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0
Sierra del Norte Las Campanas
Eastside
Northwest of City Limits
SIR Market Share Percentage By Active Listings Dollar Volume as of March 31, 2018
88 % 64 % 71 % 64 % 69 %
Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque
Tesuque
{MAR 2018 | LAST 12 MONTHS}
Sold Dollar Volume by Select Area Sold by Sotheby’s International Realty
SIR Sold Volume by Area $21,000,000 $18,000,000 $15,000,000 $12,000,000 $9,000,000 $6,000,000 $3,000,000 $0
Sierra del Norte
Las Campanas
Eastside
Northwest of City Limits
Tesuque
SIR Market Share Percentage By Sold Dollar Volume April 1, 2017 - March 31, 2018
100% 71 % 60 % 45 % 76 %
Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque
Area Highlights
/ The Santa Fe Q1 Market Update
Sales & Price Comparison Q1 | All Santa Fe | Five Years
|
|
Average Selling Price Median Selling Price Total Units Sold Median vs ASP vs units 700
$425,000 $400,000
600
$375,000 $350,000
500
$325,000
400
$300,000 300
$275,000 $250,000
200
$225,000
100
$200,000 $175,000
0
2014
2015
Average Selling Price
2016
2017
2018
Median Selling Price
Total Units Sold
Average Selling Price
Median Selling Price
Total Units Sold
5%
7%
16%
2018
$421,721
$320,000
697
2017
$402,779
$299,500
600
2016
$383,845
$282,750
522
2015
$360,873
$264,200
507
2014
$370,633
$272,800
497
Q1 {2018 v 2017}
Change
Units Sold Comparison Q1 | All Santa Fe | Five Years
units sold by price points 700 600 500 400 300 200 100 0
2014
2015
2016
2017
2018 Up to $250K $250K-$500K $500K0-$750K $750K-$1M $1M-$2M Above $2M
Total Units Sold By Price Point {Units | Percent}
Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
-1%
27%
41%
-5%
43%
40%
16%
2018
234 | 34%
280 | 40%
107 | 15%
36 | 5%
33 | 5%
7 | 1%
697
2017
237 | 40%
221 | 37%
76 | 13%
38 | 6%
23 | 4%
5 | 1%
600
2016
222 | 43%
203 | 39%
50 | 10%
15 | 3%
28 | 5%
4 | 1%
522
2015
234 | 46%
171 | 34%
63 | 12%
19 | 4%
17 | 3%
3 | 1%
507
2014
228 | 46%
158 | 32%
55 | 11%
34 | 7%
20 | 4%
2 | 0%
497
Q1 {2018 v 2017}
Change
Market Snapshot
/ The Santa Fe Q1 Market Update
Listing Inventory
All Santa Fe
Active Listings - Historic 315 285 255 225 195 165 135 105 75 45 15
Up to $250K
$250K - $500K
$500K - $750K 2016
2016
$750K - $1M
2017
$1M - $2M
$2M and Up
2018
2017
2018
Active Listings for all of Santa Fe County as of March 31
Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
-44%
-39%
-21%
-33%
-3%
2%
-28%
2018
82
169
121
90
125
52
639
2017
146
277
154
135
129
51
892
2016
128
302
190
96
149
53
918
Q1 {2018 v 2017}
Change
Days On Market Q1 | All Santa Fe | Five Years
Days on Market - 5 Years 375 300 225 150 75 0
2014
2015
2016
2017
2018
Up to $250K $250K-$500K $500K-$750K $750K-$1M $1M-$2M Above $2M
Average Days on Market Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
-30%
-41%
-34%
-45%
-41%
51%
-35%
2017
112
73
97
125
157
339
99
2016
159
123
148
229
267
225
153
2015
163
158
212
162
208
340
170
2014
185
165
209
360
230
208
189
2013
180
173
254
225
176
56
188
Q1 {2018 v 2017}
Change
Market Snapshot
/ The Santa Fe Q1 Market Update
Extraordinary Results We celebrate the notable success of our associates and clients
962 CERRO DE LA PAZ
Contemporary Masterpiece Last asking $3,000,000
21 BIG TESUQUE CANYON
Artful Living in Tesuque Last asking $3,470,000 PENASCO CIRCLE
Extraordinary Custom Estate Last asking $2,995,000 922 CANYON ROAD
The Historic Gerald Cassidy Estate Last asking $2,915,000 1086 MANSION RIDGE ROAD
Majestic Gated Estate Last asking $2,275,000 *in order from left to right, top to bottom
sothebyshomes.com/santa fe
April & May 2018 New York Auction Calendar Magnificent Jewels Auction 18 April The Jeweler’s Eye: The Personal Collection of Fred Leighton Auction 18 April Fine Jewels Auction 19 April Luxe: Art of Design European Decorative Arts & 20th Century Design Auctions 20 & 22 April Life + Curated: The Victor A. Diaz Collection Auction 20 April Finest & Rarest Wines Auction 21 April Print & Multiples Auction 26–27 April Impressionist & Modern Art Evening & Day Sales Auctions 14 & 15 May Raising The Bar: Masterworks from the Collection of Morton and Barbara Mandel Auction 16 May Contemporary Art Evening & Day Auctions Auctions 16 & 17 May Property from a Distinguished New York Private Collection JACKSON POLLOCK Number 32, 1949 To be offered in New York Contemporary Evening Auction 16 May
We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions.
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