Santa Fe Market Update | Q2 2016

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)