Q3 | 2017
Santa Fe
Market Update
SANTA FE LEGACY
sothebyshomes.com/0565834 Offered at $7,000,000
at a glance {Q3 | JAN - SEPT 2017}
santa fe
8
%
Change in Average Selling Price {2017 v 2016}
9
%
Change in Units Sold {2017 v 2016}
2152 Units Sold
431k
$
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 The stats reflecting activity during the third quarter of 2017 are in and what is revealed is positive news on almost every front. According to figures obtained from the Santa Fe MLS, when comparing the third quarter of 2017 to the third quarter of 2016, the average selling price of residential properties rose by nearly 8%, the median selling price increased by 5% and number of units sold increased by nearly 10%. Robust rates of activity occurred in the $500,000 to $750,000 price bands, the $750,000 to $1M price bands, the $1M to $2M price bands as well as the $2M+ price bands. In fact, the $2M+ price band has had 20 sales recorded in 2017 to date, that number more than doubling over one year ago (20 vs. eight). In addition, in the third quarter of 2017, overall days on market declined to 118 days, down from 143 days in the third quarter of 2016, a 17% decline. 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
EASTSIDE GARDEN OASIS
1243 Canyon Road | Offered at $4,999,000 sothebyshomes.com/0576002
33 CAMINO MONTUOSO
Offered at $3,250,000 sothebyshomes.com/0575939 SHIDONI IN TESUQUE
Offered at $2,990,000 sothebyshomes.com/0565564 704 CAMINO OCASO DEL SOL
Offered at $2,450,000 sothebyshomes.com/0565767 1115 CALLE CONEJO
Offered at $2,100,000 sothebyshomes.com/0575881 *in order from left to right, top to bottom
sothebyshomes.com/santafe
{SEPT 2017 | LAST 12 MONTHS}
Market Share
Sotheby’s International Realty vs. Local Competitors
Market Share - All Prices
SIR
Firm 2
Firm 3
Firm 4
All Other
Market Share All Price Ranges 28 % 14 % 11 % 11 % 36 %
Market Share - $1M Above
SIR
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 2016 - 2017. Obtained from the Santa Fe Asscociation of Realtors Multiple Listing Service.
54 % 15 % 8% 6% 17 %
Sotheby’s International Realty | Santa Fe Firm 2 Firm 3 Firm 4 Combination of Additional Companies
{SEPT 2017 | 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 $
642,279
Sotheby’s International Realty - Santa Fe
$
483,501 Firm 2
$
406,215 Firm 3
$
393,613 Firm 4
Q3 Market Share
$
300,293 Firm 5
/ The Santa Fe Q3 Market Update
Active Listings by Select Area Listed by Sotheby’s International Realty
SIR Active Listings by Area
$90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000
SIR Market Share Percentage By Active Listings Dollar Volume as of September 30, 2017
85 % 69 % 68 % 58 % 68 %
Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque
Tesuque
Northwest of City Limits
Eastside
Las Campanas
Sierra del Norte
$0
{SEPT 2017 | LAST 12 MONTHS}
Sold Dollar Volume by Select Area Sold by Sotheby’s International Realty
SIR Sold Volume by Area $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000
Tesuque
Northwest of City Limits
Eastside
Sierra del Norte
Las Campanas
$0
SIR Market Share Percentage By Sold Dollar Volume October 1, 2016 - Sept 30, 2017
57% 58 % 55 % 47 % 50 %
Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque
Area Highlights
/ The Santa Fe Q3 Market Update
Sales & Price Comparison Q3 | All Santa Fe | Five Years
|
|
Average Selling Price Median Selling Price Total Units Sold Median vs ASP vs units
$500,000
2500
$450,000 $400,000
2000
$350,000 $300,000
1500
$250,000 $200,000
1000
$150,000 $100,000
500
$50,000 $0
0
2013
2014
Average Selling Price
2015
2016
2017
Median Selling Price
Total Units Sold
Average Selling Price
Median Selling Price
Total Units Sold
8%
5%
10%
2017
$430,788
$328,658
2151
2016
$399,843
$312,588
1959
2015
$386,886
$290,000
2363
2014
$389,548
$291,500
1665
2013
$389,150
$300,000
1593
Q3 {2017 v 2016}
Change
Units Sold Comparison Q3 | All Santa Fe | Five Years
units by price points 2200 2000 1800 1600 1400 1200 1000 800 600 400 200 0
2013
2014
2015
2016
2017 Up to $249,999 $250,000-$499,999 $500,000-$749,000 $750,000-$999,999 $1M-$2M Above $2M
Total Units Sold By Price Point Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
1%
8%
18%
49%
17%
150%
10%
2017
673
916
303
137
102
20
2151
2016
665
850
257
92
87
8
1959
2015
743
736
233
95
72
11
1890
2014
675
614
208
94
62
12
1665
2013
613
627
188
95
59
11
1593
Q3 {2017 v 2016}
Change
Market Snapshot
/ The Santa Fe Q3 Market Update
Listing Inventory All Santa Fe
Active Listings - Current Quarter 500 450 400 350 300 250 200 150 100 50
Active Listings for all of Santa Fe County as of September 30, 2017
297 437 262 162 198 79
Up to $250K $250K-$500K $500K-$750K $750K-$1M $1M-$2M Above $2M
$2M and Up
$1M - $2M
$750K - $1M
$500K - $750K
$250K - $500K
Up to $250K
0
Days On Market
Days on Market - 5 Years
Q3 | All Santa Fe | Five Years
450 400 350 300 250 200 150 100
2013
2014
2015
2016
2017 Up to $249,999 $250,000-$499,999 $500,000-$749,000 $750,000-$999,999 $1M-$2M Above $2M
Average Days on Market Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
-11%
-26%
-25%
-20%
-4%
8%
-17%
2017
122
95
124
168
185
281
118
2016
137
128
166
209
193
261
143
2015
169
161
169
220
197
242
170
2014
171
168
194
252
197
274
179
2013
166
167
203
229
230
395
178
Q3 {2017 v 2016}
Change
Market Snapshot
/ The Santa Fe Q3 Market Update
8 PICACHO PEAK DRIVE
Unique Las Campanas Home Last asking $2,300,000
Extraordinary Results We celebrate the notable success of our associates and clients
801 VISTA CATEDRAL
Stunning Eastside Estate Last asking $3,500,000 TURTLE WALK
Millicent Rogers Estate Last asking $2,900,000 84 CIRCLE DRIVE COMPOUND
Handsome Circle Drive Home Last asking $1,750,000 152 CALLE VENTOSO WEST
Private Custom Las Campanas Sanctuary Last asking $1,425,000 *in order from left to right, top to bottom
sothebyshomes.com/santa fe
Property from a Distinguished Private Collection ANDY WARHOL Dollar Sign, 1981 To be sold 16 November in New York Contemporary Art Evening Auction
November 2017 New York Auction Calendar
Impressionist & Modern Art Evening Sale Auction 14 November Impressionist & Modern Art Day Sale Auction 15 November Contemporary Art Evening Auction Auction 16 November Contemporary Art Day Auction Auction 17 November
We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions. 1334 YORK AVENUE, NEW YORK, NY 10021 ENQUIRIES +1 212 606 7000 SOTHEBYSHOMES.COM SOTHEBYS.COM/AUCTIONS FOLLOW US @SOTHEBYS © 2017 ANDY WARHOL FOUNDATION FOR THE VISUAL ARTS / ARTISTS RIGHTS SOCIETY (ARS), NEW YORK SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2017