Year-End Report | 2017
Santa Fe
Market Update
COMFORTABLE CONTEMPORARY LIVING
sothebyshomes.com/0565927 Offered at $1,399,000
at a glance {Q4 | JAN - DEC 2017}
santa fe
8
%
Change in Average Selling Price {2017 v 2016}
11
%
Change in Units Sold {2017 v 2016}
3042 Units Sold
423.5k
$
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 2017 proved to be a banner year impacting all price sectors of Santa Fe’s residential real estate market. According to the Santa Fe MLS, in the fourth quarter of 2017 total units sold increased 11% with the most robust activity occurring in the $500K to $750K, $750K to $1M, and $2M+ price bands. Moving in tandem with the pace of sales activity, days on market decreased a remarkable 25% when compared to one year ago. Average selling prices were up 8% while median selling prices increased 7% - all signs of a healthy real estate market.
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
ICONIC ALBUQUERQUE CONTEMPORARY
7314 Elena Drive NE | Offered at $3,995,000 sothebyshomes.com/0565883
224 HEADQUARTERS TRAIL
Offered at $5,100,000 sothebyshomes.com/0576060 101 TANO NORTE
Offered at $3,995,000 sothebyshomes.com/0565659 890 PASEO DE DON CARLOS
Offered at $3,875,000 sothebyshomes.com/0565640 6 MUSTANG MESA
Offered at $1,775,000 sothebyshomes.com/0565891 *in order from left to right, top to bottom
sothebyshomes.com/santafe
{DEC 2017 | 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 29 % 14 % 11 % 10 % 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 2016 - 2017. Obtained from the Santa Fe Asscociation of Realtors Multiple Listing Service.
58 % 14 % 6% 5% 17 %
Sotheby’s International Realty | Santa Fe Firm 2 Firm 3 Firm 4 Combination of Additional Companies
{DEC 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 $
674,132
Sotheby’s International Realty - Santa Fe
$
480,973 Firm 2
$
410,724 Firm 3
2017 Market Share
$
401,832 Firm 4
$
306,349 Firm 5
/ The Santa Fe Year-End 2017 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 December 31, 2017
78 % 65 % 58 % 64 % 67 %
Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque
Tesuque
{DEC 2017 | LAST 12 MONTHS}
Sold Dollar Volume by Select Area Sold by Sotheby’s International Realty
SIR Sold Volume by Area $120,000,000
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
Sierra del Norte
Las Campanas
Eastside
Northwest of City Limits
Tesuque
SIR Market Share Percentage By Sold Dollar Volume January 1, 2017 - December 31, 2017
58% 61 % 63 % 43 % 61 %
Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque
Area Highlights
/ The Santa Fe Year-End 2017 Market Update
Sales & Price Comparison Q4 | All Santa Fe | Five Years
|
|
Average Selling Price Median Selling Price Total Units Sold Median vs ASP vs units
3500
$450,000 $400,000
3000
$350,000
2500
$300,000 $250,000
2000
$200,000
1500
$150,000
1000
$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%
7%
11%
2017
$423,421
$320,000
3042
2016
$390,467
$300,000
2747
2015
$376,322
$279,000
2601
2014
$382,775
$283,900
2353
2013
$384,815
$291,100
2225
Q4 {2017 v 2016}
Change
Units Sold Comparison Q4 | All Santa Fe | Five Years
units by price points 3200 2800 2400 2000 1600 1200 800 400 0
2013
2014
2015
2016
2017 Up to $250K $250K-$500K $500K0-$750K $750K-$1M $1M-$2M Above $2M
Total Units Sold By Price Point Up to $250K
$250K $500K
$500K $750K
$750K $1M
$1M $2M
Above $2M
Total
0%
9%
30%
48%
11%
142%
11%
2017
1002
1252
439
182
138
29
3042
2016
1000
1150
338
123
124
12
2747
2015
1073
981
309
123
104
11
2601
2014
998
829
286
128
97
15
2353
2013
892
861
255
113
89
15
2225
Q4 {2017 v 2016}
Change
Market Snapshot
/ The Santa Fe Year-End 2017 Market Update
Listing Inventory All Santa Fe
Active Listings - Current Quarter 225 200 175 150 125 100 75 50 25 0
Up to $250K
$250K - $500K $500K - $750K
$750K - $1M
$1M - $2M
Active Listings for all of Santa Fe County as of December 31, 2017
98 225 137 113 129 57
Up to $250K $250K-$500K $500K-$750K $750K-$1M $1M-$2M Above $2M
$2M and Up
Days On Market Q4 | All Santa Fe | Five Years
Days on Market - 5 Years 350 300 250 200 150 100 50
2013
2014
2015
2016
2017
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
-24%
-31%
-25%
-28%
-6%
7%
-25%
2017
109
88
118
158
173
259
109
2016
144
128
157
218
184
241
145
2015
168
156
177
214
209
242
169
2014
172
166
194
237
216
253
179
2013
168
166
192
235
218
334
177
Q4 {2017 v 2016}
Change
Market Snapshot
/ The Santa Fe Year-End 2017 Market Update
14 VIA DE ZORRITOS
Full Circle Ranch Last asking $5,900,000
Extraordinary Results We celebrate the notable success of our associates and clients
3 INDIAN PONY
Stunning Modern Design Last asking $3,699,000 9 LA TRAVIATA
Regal Santa Fe Retreat Last asking $3,395,000 566 & 568 CAMINO DEL MONTE SOL
Secluded Eastside Compound Last asking $2,900,000 777 ACEQUIA MADRE
Spectacular New Mexico Classicism Last asking $2,195,000 *in order from left to right, top to bottom
sothebyshomes.com/santa fe
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