Santa Fe Market Update First 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 The Santa Fe real estate market continued to show steady signs of recovery throughout the first quarter of 2014. Encouraging gains were posted in most price categories. A steady and welcome upturn in activity continued momentum established in the previous two quarters in the important $750,000 to $2M sectors. Further support for the Santa Fe market occurs when we study the first quarters, as the 2014 first quarter “Units Sold” is the highest since 2007, complemented by “Days on Market” being the lowest since 2007. The average sales price remains attractively affordable at $380,729, while also showing an improvement over the first quarter of 2013. All of this information combines to support positive trends in our local market as we approach the important second quarter of 2014. With interest rates remaining near historic lows, prices affordable and our world-renowned Santa Fe spring/summer festivals and tourist season fast approaching, we are looking forward to continued growth in our exceptional real estate market.
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
Units Sold
417 East Palace Avenue Santa Fe, NM 87501 t: 505.982.6207
Avg. DOM
Avg. Sales Price
800
$600,000 719
700
$478,960 611
600 $431,593 507 500
$396,505
$384,788
$380,729 $351,452
$385,130
$324,500
$400,000
470
424
385
400
382 347
$300,000
342
280
300
200
$500,000
$453,183
$436,673
153
171
177
190
200
205
220
233
209
$200,000 189 $100,000
100
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
$0
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 Quarter 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
BIG TESUQUE CANYON MLS 201304035 | $2,790,000 Stunning Tesuque compound in a tree-covered setting on the Rio Tesuque. David Rosen | Christopher Rocca 505.470.9383 | 505.490.2999
47 VIOLET CIRCLE MLS 201304361 | $2,785,000 This superlative Pueblo-style home is the epitome of distinctive, modern Southwestern style. Ray Rush | Tim Van Camp 505.577.5117 | 505.690.2750
16-18 SPUR RANCH ROAD MLS 201401303 | $1,895,000 Breathtaking compound situated on a 25-acre site with views of the Galisteo Basin. Darlene Streit 505.920.8001
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
CLOSED SALES 2012
2013
2014
% Change (2014 v 2013)
Up to $249,999
161
183
208
11.82%
$250,000-$499,999
126
160
153
-8.38%
$500,000-$749,999
53
39
54
38.46%
$750,000-$999,999
20
19
33
73.68%
PRICE RANGE
250
200
150
100
50
$1M-$2M
20
11
20
81.81%
2
2
2
0.00%
0
Above $2M
2012
Up to $249,999
2013
$250,000-‐$499,999
2014
$500,000-‐$749,999
$750,000-‐$999,999
1MIL-‐2MIL
Above 2MIL
AVERAGE DAYS ON MARKET 2012
2013
2014
% Change (2014 v 2013)
Up to $249,999
198
187
178
-2.73%
$250,000-$499,999
215
212
176
-14.56%
$500,000-$749,999
291
280
253
-11.84%
$750,000-$999,999
338
224
226
0.89%
$1M-$2M
260
303
176
-44.47%
Above $2M
382
630
56
-91.11%
PRICE RANGE
700
600
500
400
300
200
100
0
2012
Up to $249,999
2013
$250,000-‐$499,999
$500,000-‐$749,999
2014
$750,000-‐$999,999
1MIL-‐2MIL
Above 2MIL
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
$326,742 $385,131 $431,964 $478,960 $436,674 $409,115 $384,789 $453,184 $396,506 $353,329 $380,729
$262,000 $290,000 $345,000 $380,000 $310,000 $324,500 $300,000 $300,000 $292,500 $276,500 $280,000
sothebyshomes.com/santafe
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
1
2
3
4
5
6
7
Average Sales Price
8
9
Median Sales Price
10
11
12
13
14
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
LISTING INVENTORY as of 3/31: santa fe county 2012
2013
2014
% Change (2013 v 2014)
Up to $249,999
337
261
242
-7.28%
$250,000-$499,999
431
352
424
20.45%
$500,000-$749,999
223
178
173
-2.81%
$750,000-$999,999
134
126
137
8.73%
PRICE RANGE
500
450
400
350
300
250
200
150
100
ABOVE $1M
205
200
208
4.00%
50
0
2012
0-‐$249,999
SALES BY PRICE RANGE PRICE RANGE
2013
$250,000-‐$499,999
$500,000-‐$749,999
2014
$750,000-‐$999,999
2013
2013
2014
Up to $249,999
44%
44%
$250,000-$499,999
39%
33%
$500,000-$749,999
9%
11%
$750,000-$999,999
4%
7%
$1M-$2M
3%
4%
Above $2M
1%
1%
$1,000,000 and Above
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 250
200
150
100
Obtained from the Santa Fe Association of Realtors Multiple Listing Service. Deemed reliable but not guaranteed and subject to change.
50
0
January
February
March
April
May 2009
June 2010
2011
July 2012
2013
August 2014
September
October
November
December
On the market
left to right from top to bottom:
in metropolitan markets San Francisco, CA | Web: 0086628 | $1,275,000 Houston, TX | Web: 1240117 | $1,750,000 Brooklyn, NY | Web: 0136749 | $1,699,000 in resort markets East Hampton, NY | Web: 0046175 | $1,895,000 Carmel, CA | Web: 0501348 | $1,395,000 Falmouth, MA | Web: 0840726 | $1,590,000 in foreign markets Thailand | Web: 2ZBJ7R | $1,080,580 Greece | Web: SMXWL9 | $1,931,567 Germany | Web: 9DLRQ8 | $1,655,629 sothebysrealty.com
SIGNIFICANT SALES | Q1 2014
960 OLD SANTA FE TRAIL | MLS 201205163| $1,600,000 list Neil Lyon | 505.660.8600
1146 CANYON ROAD | MLS 201303175 | $1,499,000 list Francesca Stedman | Mary Kehoe | 505.670.5566 | 505.310.1422
435 Camino DEL MONTE SOL | MLS 201302549 | $1,399,000 list K.C. Martin | 505.690.7192
16B CAMINO CALABASAS | MLS 201400192 | $895,000 list Nancy Lehrer | Tara Earley | 505.606.7611 | 505.606.7611
77 PASEO DEL CONEJO | MLS 201304704 | $850,000 list Susan Kline | Lynden Galloway | 505.501.0101 | 505.501.1111
3249 PASEO DEL MONTE | MLS 201303620 | $798,000 list MaryJoy Ford | 505.577.0177