Q3 | 2019
Santa Fe
Market Update
ESTANCIA DEL RIO
estanciadelrio.com Offered at $12,000,000
at a glance {Q3 | JUL - SEP 2019}
santa fe
10
%
Change in Median Selling Price {2019 v 2018}
-6
%
Change in Units Sold {2019 v 2018}
2,362 Units Sold
475k
$
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 Throughout the third quarter of 2019, Santa Fe’s residential real estate market continued building upon the trend set last year which is indicative of an active, healthy and robust marketplace. According to the Santa Fe Association of Realtors MLS, both median and average sales prices increased 10% from one year ago. While units sold decreased by a modest 6%, the largest increase in sales occurred in the $500K to $750K bands, an increase of 11%, and in units sold above $2M, which increased an impressive 33% from 21 properties sold in 2018 to 28 properties sold in 2019. Recovery in this price sector was a welcome sign for buyers and sellers. As is typical of a vigorous market, average days on market decreased by 17% overall from 88 days in 2018 to 73 days in 2019. The only sector experiencing an increase in days on market was the sector priced from $1M to $2M, which recorded a modest 5% increase in days on market from 136 days in 2018 to 143 days. Another sign of a brisk market, active listings, was down 13%, with the largest decline seen in the $750K to $1M range, a decrease pf 24%, and in homes priced above $2M, a decrease of 17%. 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
SINGLE-LEVEL EASTSIDE OASIS
608 Miller Street Offered at $2,950,000 sothebyshomes.com/0567261
1401 & 1407 UPPER CANYON RD
Offered at $2,850,000 sothebyshomes.com/0576494 1054 ENCANTADO DRIVE
Offered at $1,675,000 sothebyshomes.com/0567227 12 VIA ESTANCIA
Offered at $1,595,000 sothebyshomes.com/0567178 5711 STATE HIGHWAY 41
Offered at $1,540,000 sothebyshomes.com/0567203 *in order from left to right, top to bottom
sothebyshomes.com/santafe
{SEP 2019 | LAST 12 MONTHS}
Market Share
Sotheby’s International Realty vs. Local Competitors
Market Share - All Prices
SIR
Keller Williams
Santa Fe Properties
Barker Realty
Market Share - $1M Above
All Other SIR
Market Share All Price Ranges 28 % 13 % 11 % 11% 37 %
Santa Fe Properties
Barker Realty
Keller Williams
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 2018 - 2019. Obtained from the Santa Fe Association of Realtors Multiple Listing Service.
58 % 11 % 9% 7% 15 %
Sotheby’s International Realty | Santa Fe Firm 2 Firm 3 Firm 4 Combination of Additional Companies
{SEP 2019 | LAST 12 MONTHS}
Average Selling Prices by Top 5 Firms Sotheby’s International Realty vs. Local Competitors
ASP by Competitor $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0
SIR SIR
Santa FirmFe2 Properties
Barker Realty Firm 3
Keller Williams Firm 4
REFirm MAX5 First
Average Selling Prices by Brokerage $
776,070
Sotheby’s International Realty - Santa Fe
$
539,684 Firm 2
$
484,931 Firm 3
$
449,579 Firm 4
Q3 Market Share
$
370,026 Firm 5
/ The Santa Fe Q3 2019 Market Update
Active Listings by Select Area Listed by Sotheby’s International Realty
SIR Active Listings by Area
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
$0
Las Campanas
Eastside
Northwest of City Limits
SIR Market Share Percentage By Active Listings Dollar Volume as of September 30, 2019
51 % 65 % 54 % 75 %
Las Campanas Eastside Northwest of City Limits Tesuque
Tesuque
{SEP 2019 | LAST 12 MONTHS}
Sold Dollar Volume by Select Area Sold by Sotheby’s International Realty
SIR Sold Volume by Area $105,000,000 $90,000,000 $75,000,000 $60,000,000 $45,000,000 $30,000,000 $15,000,000 $0
Las Campanas
Eastside
Northwest of City Limits
Tesuque
SIR Market Share Percentage By Sold Dollar Volume October 1, 2018 - September 30, 2019
58 % 61 % 46 % 46 %
Las Campanas Eastside Northwest of City Limits Tesuque
Area Highlights
/ The Santa Fe Q3 2019 Market Update
Sales & Price Comparison Q3 | All Santa Fe | Five Years
|
|
Average Selling Price Median Median Selling Price Total Units Sold vs ASP vs units $480,000
2600 2350
$440,000
2100
$400,000
1850 1600
$360,000
1350 $320,000
1100 850
$280,000
600 $240,000
350
$200,000
100
2015
2016
Average Selling Price
2017
2018
2019
Median Selling Price
Total Units Sold
Average Selling Price
Median Selling Price
Total Units Sold
10%
10%
-6%
2019
$475,396
$370,000
2361
2018
$433,209
$336,000
2504
2017
$420,195
$320,000
2248
2016
$389,432
$301,550
2044
2015
$375,065
$278,750
1980
Q3 {2019 v 2018}
Change
Units Sold Comparison Q3 | All Santa Fe | Five Years
units sold by price points 2,600 2,275 1,950 1,625 1,300 975 650 325 0
2015
2016
2017
2018
2019 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
-29%
2%
11%
6%
2%
33%
-6%
2019
528 | 22%
1117 | 47%
406 | 17%
150 | 6%
132 | 6%
28 | 1%
2361
2018
745 | 30%
1100 | 44%
367 | 15%
142 | 6%
129 | 5%
21 | 1%
2504
2017
748 | 33%
932 | 41%
308 | 14%
138 | 6%
102 | 5%
20 | 1%
2248
2016
742 | 36%
858 | 42%
257 | 13%
92 | 5%
87 | 4%
8 | 0%
2044
2015
828 | 42%
4741 | 37%
233 | 12%
95 | 5%
72 | 4%
11 | 1%
1980
Q3 {2019 v 2018}
Change
Market Snapshot
/ The Santa Fe Q3 2019 Market Update
Listing Inventory
All Santa Fe
Active Listings - Historic 450 400 350 300 250 200 150 100 50 0
Up to $250K
$250K - $500K
$500K - $750K 2017
2017
2018
$750K - $1M
$1M - $2M
$2M and Up
2019
2018
2019
Active Listings for all of Santa Fe County as of September 30, 2019
Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
-15%
-11%
-14%
-24%
-4%
-17%
-13%
2019
223
350
185
124
164
74
1120
2018
263
393
214
163
171
89
1293
2017
333
422
225
156
179
79
1394
Q3 {2019 v 2018}
Change
Days On Market Q3 | All Santa Fe | Five Years
Days on Market - 5 Years 350 300 250 200 150 100 50 0
2015
2016
2017
2018
2019
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
-18%
-14%
-9%
-14%
5%
-6%
-17%
2019
69
48
71
103
143
254
73
2018
84
56
78
120
136
269
88
2017
120
94
122
166
184
281
140
2016
143
128
166
209
193
261
154
2015
176
161
169
220
197
242
181
Q3 {2019 v 2018}
Change
Market Snapshot
/ The Santa Fe Q3 2019 Market Update
Extraordinary Results We celebrate the notable success of our associates and clients
335 BROWNELL HOWLAND
Private Gated Retreat Last asking $3,750,000
1000 CAMINO PINONES
Adjacent to Museum Hill Last asking $3,375,000 6 ESTATES DRIVE
Santa Fe Contemporary Last asking $2,995,000 101 TANO NORTE
European-Inspired Country Retreat Last asking $2,900,000 12 TANO ALTO
Lavish Living Last asking $2,495,000 *in order from left to right, top to bottom
sothebyshomes.com/santa fe
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