Santa Fe Market Update | Q1 2017

Santa Fe, NM | mls: 201701380

Santa Fe Market Update First Quarter 2017 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/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.

A MESSAGE FROM OUR QUALIFYING BROKER: Gregg Antonsen t: 505.988.2533 | gregg.antonsen@sothebyshomes.com

Based upon sales statistics obtained from the Santa Fe Association of Realtors MLS, in the first quarter of 2017, sales activity in the Santa Fe residential real estate market has been healthy and robust. Most notably, the first quarter of 2017 had the highest total number of sales in the past ten years during the three-month period from January – March. Additionally, for the second year in a row, both average and median sale prices increased in the first quarter of 2017, compared to the first quarter of the year prior. The number of closed sales units in five of six price bands have increased when compared to the same period one year ago, while closed sales in the $1M-$2M price band declined from 29 closed sales in the first quarter of 2016 to 23. As the summer sales season approaches, traditionally the busiest of the year, the residential real estate market in Santa Fe remains positive, attractive, and welcoming for buyers and sellers alike.

SANTA FE BROKERAGES | sothebyshomes.com/santafe 417 East Palace Avenue Santa Fe, NM 87501 t: 505.982.6207

326 Grant Avenue Santa Fe, NM 87501 t: 505.988.2533

231 Washington Avenue Santa Fe, NM 87501 t: 505.988.8088

FIRST QUARTER ACTIVITY (JAN 1 – MAR 31) Number of Units Sold, Average DOM, and Average Sales Price for Single Family Homes, Townhouses and Condominiums Sold in All Areas for All First Quarters of 2007 through 2017 800 700

Units Sold

Average Days On Market

$600,000

Average Sales Price

$478,960

600

$500,000

$453,183

$436,673

$406,306

$409,115

$380,603 500

$384,788

$398,361

$416,367 $400,000

$370,570

$351,452 $300,000

564

$200,000 153

492

170

487

186

476

189

424

238 383

220 342

205 347

200

190 280

100

385

507 200

177

300

209

400

$100,000

$0 Family, Number 0 of Units Sold, Average Days on Market (DOM), and Average Sales Price for Residential Listings Sold (Single 2007 2008 2011 2013 2014 2015 2017 Condos, and Townhouses) for 2009 the First 2010 Half of 2005, 2006,2012 2007, 2008, 2009, 2010, 2011, 2012,2016 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

125 PASEO DE LA TIERRA MLS 201700820 | $1,600,000 Minutes from town on 10.094 mountain-view acres, this 5,000-square-foot single-level estate is refreshing and unique in design, incorporating elements of Prairie style. Up to four horses are welcome.

Penelope Vasquez 505.690.3751

638 CAMINO DEL MONTE SOL MLS 201700052 | $2,150,000 This remodeled turnkey estate exudes elegance, charm, and history. Set on a beautifully landscaped acre, it offers three bedrooms, four baths, an oversized two-car garage, and views of the ski basin.

Stedman/Kehoe/Hirsch Team 505.670.5566

1006 OLD SANTA FE TRAIL MLS 201605830 | $2,699,000 This time-honored estate on Museum Hill is filled with light and enjoys mountain views. It includes a threebedroom home, an attached casita, a swimming pool with a cabana, and a rooftop deck.

Katharine Duke 505.429.1523

SALES

SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS

FIRST QUARTER CLOSED SALES 2015

2016

2017

% Change (2015 v 2016)

250

UP TO $249,999

214

194

209

8%

200

$250,000-$499,999

171

201

216

7%

$500,000-$749,999

63

50

73

46%

$750,000-$999,999

19

15

38

153%

$1-$2 MILLION

17

29

23

-21%

ABOVE $2 MILLION

3

3

5

67%

PRICE RANGE

Up to $249,999 $250,000-$499,999 $500,000-$749,999 $750,000-$999,999 $1-$2M

150

Above $2M

100

50

0 2015

2016

2017

FIRST QUARTER AVERAGE DAYS ON MARKET 2015

2016

2017

% Change (2016 v 2017)

500

UP TO $249,999

178

162

155

-4%

400

$250,000-$499,999

165

PRICE RANGE

159

124

-22%

$500,000-$749,999

209

212

156

-26%

$750,000-$999,999

360

162

230

42%

$1-$2 MILLION

230

202

269

33%

ABOVE $2 MILLION

208

442

225

-49%

Up to $249,999

450

$250,000-$499,999 $500,000-$749,999

350

$750,000-$999,999

300

$1-$2M

250

Above $2M

200 150 100 50 0 2015

2016

2017

FIRST QUARTER AVERAGE & MEDIAN SALES PRICES YEAR 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

AVERAGE SALE PRICE

MEDIAN SALE PRICE

$478,960 $436,673 $409,115 $384,788 $453,183 $406,306 $351,452 $380,603 $370,570 $398,361 $416,367

$380,000 $310,000 $324,500 $300,000 $300,000 $295,000 $278,500 $280,400 $270,000 $293,250 $312,000

sothebyshomes.com/santafe

$600,000

Average Sales Price $500,000

Median

$400,000

$300,000

$200,000

$100,000

$0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

SALES

SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS

LISTING INVENTORY AS OF 3/31: SANTA FE COUNTY PRICE RANGE

2015

2016

2017

% Change (2016 v 2017)

400

Up to $249,999 $250,000-$499,999

350

$500,000-$749,999

UP TO $249,999

176

113

131

16%

$250,000-$499,999

368

292

266

-9%

250

$500,000-$749,999

160

172

123

-28%

200

$750,000-$999,999

98

91

128

41%

$1M AND ABOVE

177

200

176

-12%

300

$750,000-$999,999 $1M and Above

150 100 50 0 2015

FIRST QUARTER SALES BY PRICE RANGE PRICE RANGE UP TO $249,999

2016

2017

39%

37%

$250,000-$499,999

41%

38%

$500,000-$749,999

10%

13%

$750,000-$999,999

3%

7%

$1-$2 MILLION

6%

4%

ABOVE $2 MILLION

1%

1%

2016

2016 3%

2017

2017

6% 1%

7%

4% 1%

10% 39%

41%

2012

2013

37%

38% Up to $249,999

$500,000-$749,999

$1-$2 Million

$250,000-$499,999

$750,000-$999,999

Above $2 Million

RESIDENTIAL SOLDS BY MONTH - ALL PROPERTY TYPES 2011

13%

2014

2015

2016

2017

Values for residential solds by month are for all property types including single family homes, townhouses, condominiums, duplexes, manufactured homes, mobile homes, modular homes, and x-plexes. All 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.

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS SAN FRANCISCO, CA | Web: 0088455 | $999,000 NEW YORK, NY | Web: 00111183 | $999,000 HOUSTON, TX | Web: 1235348 | $997,000 RESORT MARKETS HAMPTONS, NY | Web: 0047503 | $999,000 SANTA FE, NM | Web: 0565485 | $995,000 CAPE COD, MA | Web: 0841245 | $839,000 FOREIGN MARKETS GREECE | Web: FRSRHJ | 930.000 € EUR FRANCE | Web: 2NH833 | 930.000 € EUR PORTUGAL | Web: 3L9ZJT | 910.000 € EUR sothebysrealty.com

JEAN-MICHEL BASQUIAT In the Wings, 1986 To be sold in the Contemporary Art Evening Sale New York 18 May 2016

New York Spring Sales 2017

Art of Africa, Oceania, and the Americas Auction 15 May Impressionist & Modern Art Evening Sale Auction 16 May Impressionist & Modern Art Day Sale Auction 17 May Contemporary Art Evening Sale Auction 18 May Contemporary Art Day Sale Auction 19 May Finest and Rarest Wines Auction 20 May American Art Auction 23 May Latin American Modern & Contemporary Art Evening Sale Auction 25 May

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/Auctions.

ENQUIRIES +1 212 606 7000 © 2017 ARTISTS RIGHTS SOCIETY (ARS), NEW YORK / ADAGP, PARIS

SIGNIFICANT SALES | Q1 2017

115 BROWNELL HOWLAND ROAD | MLS 2016002719 | $2,395,000 list Chris Webster | 505.780.9500 (listing broker) MaryJoy Ford | 505.577.0177 (selling broker)

1114 CALLE CONEJO | MLS 201605344 | $2,150,000 list Ray Rush & Tim Van Camp | 505.984.5117

14 HACIENDA CABALLERO | MLS 201603032 | $1,800,000 list Shane Cronenweth | 505.984.5158

40 RIVER VALLEY ROAD | MLS 201602547 | $1,195,000 list Deborah Day | 505.954.5501 (listing broker) Tim Galvin | 505.795.5990 (selling broker)

46 VIA PAMPA | MLS 201601630 | $1,195,000 list Team Burbic Yoder | 505.670.9399 (listing broker) Marion Skubi | 505.660.8722 (selling broker)

79 DROEGE | MLS 2016004183 | $1,140,000 list Matthew Sargent | 505.490.1718 Michaelene Sargent | 505.954.5514