Santa Fe, NM | mls: 201601392
Santa Fe Market Update Second Quarter 2016 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 I am pleased to provide you with the Santa Fe real estate market report for the second quarter of 2016. As you will see from the graphs on the following pages, current market conditions remain positive, no doubt supported by the continuation of historically low interest rates combined with the fact that Santa Fe remains a well-priced, attractive destination market for buyers. According to The Santa Fe Association of Realtors MLS, both median and average sales prices, while showing modest increases from one year ago, remain, nonetheless, below peak prices achieved in 2007, allowing the Santa Fe market to remain attractive to buyers from a number of other higher priced markets. Total units sales remained stable while sales in the $250,000 to $499,999 and $1M to $2M price bands increased rather significantly, 17% and 20% respectively. Listing inventory, an important indicator of market conditions, declined in all price categories with the exception of $1M and above, which recorded a moderate increase of 3.7%, making the second quarter of 2016 the third consecutive year of gradual quarterly inventory contractions. The market trends achieved in the first two quarters of 2016 appear indicative of a stable, healthy environment for both buyers and sellers. As we enter an exhilarating summer season of world renowned opera performances, art markets, and cultural festivals, we invite those of you who haven’t already made plans for a summer visit to do so now. We are looking forward to welcoming you to all we have to offer in the City Different. 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
SECOND QUARTER ACTIVITY Number of Units Sold, Average DOM, and Average Sales Price for Residential Listings Sold in All Areas for All Second Quarters of 2006 through 2016
1800
Units Sold
1600
$479,661
Average Days On Market
$600,000
Average Sales Price
$478,783
$500,000 $431,065
1400
$394,606 $390,623
$443,597 1200
$389,076 $379,239 $387,492 $383,557 $399,217
$400,000
1000 $300,000
1192
1187
1033
954
890
798
$200,000
153
178
188
187
$100,000 225
193
197
187
166
167
200
218
400
659
829
600
843
1166
1622
800
Number of Units Sold, Average Days on Market (DOM), and Average Sales Price for Residential Listings Sold (Single Family, $0 0 Condos,2006 and Townhouses) for the First Half of 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012,2015 2013, and 2014 2007 2008 2009 2010 2011 2012 2013 2014 2016
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
409 BROWNELL HOWLAND & LOT 2 MLS 201602875 | $3,400,000 Nestled in the foothills, this gated estate in an exclusive neighborhood has four bedroom suites, two kitchens, saunas, an outdoor kitchen, a hot tub, a fire pit, and patios with scenic views. Neil Lyon, CRB, CRS, GRI 505.660.8600
1243 CANYON ROAD MLS 201603054 | $5,500,000 Understated luxury and relaxed elegance are hallmarks of this Eastside sanctuary, designed for gracious living and entertaining. The grounds include a pool and cabana, gardens, and a guesthouse. Paul McDonald 505.780.1008
HACIENDA BELLA VISTA MLS 201602183 | $5,995,000 This unparalleled hacienda reflects a rare blend of inspiration and architecture. Masterful design and modern luxury are hallmarks of the impressive estate, set on 50 acres with dazzling alpine views. Susan Kline and Lynden Galloway 505.501.0101
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
SECOND QUARTER CLOSED SALES PRICE RANGE
2014
2015
2016
% Change (2015 v 2016)
600 Up to $249,999
UP TO $249,999
438
479
415
-13.36%
500
$250,000-$499,999
361
448
523
16.74%
400
$500,000-$749,999
123
148
137
-7.43%
300
$750,000-$999,999
65
57
55
-3.51%
200
$1-$2 MILLION
38
48
58
20.83%
100
ABOVE $2 MILLION
8
7
4
-42.86%
0
$250,000-$499,999 $500,000-$749,999 $750,000-$999,999 $1-$2M Above $2M
2014
2015
2016
SECOND QUARTER AVERAGE DAYS ON MARKET PRICE RANGE
2014
2015
2016
% Change (2015 v 2016)
UP TO $249,999
173
171
141
-17.54%
$250,000-$499,999
186
172
140
-18.60%
$500,000-$749,999
216
176
173
-1.70%
$750,000-$999,999
232
241
231
-4.15%
$1-$2 MILLION
204
212
212
0.00%
ABOVE $2 MILLION
258
320
359
12.19%
400
Up to $249,999
350
$250,000-$499,999 $500,000-$749,999
300
$750,000-$999,999
250
$1-$2M Above $2M
200 150 100 50 0 2014
2015
2016
SECOND QUARTER AVERAGE & MEDIAN SALES PRICES YEAR 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$443,597 $479,661 $478,783 $394,606 $390,623 $431,065 $389,076 $379,239 $387,492 $383,557 $399,217
$345,000 $376,625 $325,000 $309,000 $300,000 $305,175 $289,000 $291,250 $285,000 $284,500 $310,000
sothebyshomes.com/santafe
$600,000
$500,000
Average Sales Price Median
$400,000
$300,000
$200,000
$100,000
$0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
LISTING INVENTORY AS OF 6/30: SANTA FE COUNTY PRICE RANGE
2014
2015
2016
% Change (2015 v 2016)
263
184
155
-15.76%
UP TO $249,999 $250,000-$499,999
428
348
317
-8.91%
$500,000-$749,999
267
232
218
-6.03%
$750,000-$999,999
166
144
143
-0.69%
ABOVE $1 MILLION
259
241
250
3.73%
450
Up to $249,999 $250,000-$499,999
400
$500,000-$749,999
350
$750,000-$999,999 $1M and Above
300 250 200 150 100 50 0 2014
SECOND QUARTER SALES BY PRICE RANGE PRICE RANGE UP TO $249,999
2015
2016
40%
35%
$250,000-$499,999
38%
44%
$500,000-$749,999
12%
11%
$750,000-$999,999
5%
5%
$1-$2 MILLION
4%
5%
ABOVE $2 MILLION
1%
0%
2015
2016
2015 5%
2016
4% 1%
5%
12%
5%
11%
35%
40%
38%
44%
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
2012
2013
2014
2015
2016
201 155
151
144
178 185 184
179 176 194 182
205 216 187 174
169
182
235
263 222 214 230
209 219 231
252 155
162
182
185
196
210
217 225
233 216 190
137
160
172 161
173
187
195
155 169
160 146
108
131 126
138
166 149 130 138
109 117
150
100
168
199
200
222 212
223
254
250
257
272
300
50
0 January
February
March
April
May
June
July
August
September
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.
October
November
December
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS SAN FRANCISCO, CA | Web: 0087921 | $1,449,000 HOUSTON, TX | Web: 1233402 | $1,150,000 LOS ANGELES, CA | Web: 1350021 | $1,099,000 RESORT MARKETS CAPE COD, MA | Web: 0403410 | $1,349,000 SAG HARBOR, NY | Web: 1050432 | $1,495,000 SANTA BARBARA, CA | Web: 0592991 | $1,995,000 FOREIGN MARKETS THAILAND | Web: VPXJV9 | $1,500,000 PERU | Web: PSEKLJ | $1,500,000 MEXICO | Web: 4H7Z5S | $1,500,000 sothebysrealty.com
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SIGNIFICANT SALES | Q2 2016
2117 FOOTHILLS ROAD | MLS 201404569 | $1,395,000 list Ray Rush & Tim Van Camp | 505.577.5117
741 CAMINO MIRADA | MLS 201502697 | $1,335,000 list Darlene Streit | 505.920.8001 (listing broker) Judith Ivey | 505.577.5157 (selling broker)
706 GONZALES | MLS 201404534 | $1,290,000 list Lois Sury, CRS, ABR | 505.470.4672
85 ESTRADA MAYA | MLS 201505426 | $1,250,000 list Penelope Vasquez | 505.690.3751 (listing broker) David Fries | 505.310.3919 (selling broker)
1016 DON GASPAR | MLS 201504668 | $1,250,000 list David Fries | 505.310.3919
2 SILVER MESA CIRCLE | MLS 201600760 | $1,105,000 list Nancy Lehrer & Tara Earley | 505.490.9565 (listing broker) Marion Skubi, ABR, CRB, CRS | 505.660.8722 (selling broker)