Santa Fe, NM | mls: 201503762
Santa Fe Market Update Third Quarter 2015 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 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 In the third quarter of 2015, residential sales in Santa Fe continued at a relatively steady pace. According to the Santa Fe Association of Realtors Multiple Listing Service, recorded sales in all but one price band increased – with a healthy and welcome uptick of 14.29% in the $1 million - $2 million price range. Average days on market declined slightly in all but one price band. Although sales were steady, both average and median prices continued their slight downward trend; a good sign for those buyers wishing to enter the market before prices begin to rise. This trend may be nearing an end since listing inventory across the board showed double-digit declines in all but one price category – certainly a call to action for those buyers on the sidelines. Sotheby’s International Realty ended the third quarter of 2015 by closing the significant sale of Forked Lightning Ranch, formerly owned by Jane Fonda, which had been listed at $19.5 million (see page 8). We wish to congratulate Ray Rush and Tim Van Camp of our Washington Avenue office who represented the buyer – what a great way to enter the final quarter of 2015! 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
THIRD QUARTER ACTIVITY Number of Units Sold, Average DOM, and Average Sales Price for Residential Listings Sold in All Areas for First, Second and Third Quarters of 2006 through 2015 Units Sold
3000
2500
$485,272
2424
Avg. DOM
Avg. Sales Price
$600,000
$479,889
$500,000
$446,617
$417,589 $391,329
2000 $400,377
1761
$389,150
$389,548
$387,218 1878
1665
1593 1441
1500 1325
$400,000
$401,019
1274
$300,000
1241
1137
1000
$200,000
500
$100,000 160
157
180
190
195
205
219
178
179
169
Number of Units Sold, Average Days on Market (DOM), and Average Sales Price for Residential Listings Sold (Single Family, 0 and Townhouses) for the First Half of 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, and 2014 $0 Condos, 2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
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
EL RANCHO DE LA MARIPOSA MLS 201504179 | $8,500,000 On over 14 verdant acres, near the Taos Plaza. 1930s mansion, historic art studio and museum. Malissa Kullberg and Joshua Maes 505.231.4046
10 CALLE VENTOSO WEST MLS 201503612 | $1,090,000 Custom-built home with dramatic vistas, numerous details, distinctive style, and a flexible configuration. Marion Skubi, ABR, CRB, CRS 505.954.0730
1519 BENT HILL MLS 201504440 | $1,260,000 Elegant, meticulously maintained custom home in the Santa Fe Summit with great mountain views. Laurie Hilton, ABR, CRS 505.690.3751
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
THIRD QUARTER CLOSED SALES PRICE RANGE UP TO $249,999 $250,000-$499,999
2013
2014
2015
% Change (2014 v 2015)
613
675
740
9.63%
800 Up to $249,999
750 700
$250,000-$499,999
650
$500,000-$749,999
600 $750,000-$999,999
550
627
614
728
18.57%
$500,000-$749,999
188
211
232
9.95%
$750,000-$999,999
95
94
95
1.06%
$1M-$2M
60
63
72
14.29%
ABOVE $2M
10
12
11
-8.33%
500
$1 - $2 MILLION
450
Above $2 MILLION
400 350 300 250 200 150 100 50 0 2013
2014
2015
THIRD QUARTER AVERAGE DAYS ON MARKET PRICE RANGE UP TO $249,999
2013
2014
2015
% Change (2014 v 2015)
166
171
168
-1.75%
450
Up to $249,999 $250,000-$499,999
400
$500,000-$749,999 $750,000-$999,999
350
$1-$2 MILLION Above $2 MILLION
$250,000-$499,999
167
168
161
-4.17%
$500,000-$749,999
203
196
167
-14.80%
$750,000-$999,999
229
252
220
-12.70%
$1M-$2M
227
195
197
1.03%
ABOVE $2M
427
274
242
-11.68%
300
250
200
150
100
50
0 2013
2014
2015
THIRD QUARTER AVERAGE & MEDIAN SALES PRICES YEAR 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$446,617 $485,272 $479,889 $400,377 $401,019 $417,589 $391,329 $389,150 $389,548 $387,218
$345,000 $375,000 $330,000 $297,000 $305,000 $299,578 $285,500 $300,000 $291,500 $290,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0 2006
2007
2008
2009
2010
Average Sales Price
sothebyshomes.com/santafe
2011
2012
2013
Median Sales Price
2014
2015
SALES
SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS
LISTING INVENTORY AS OF 9/30: SANTA FE COUNTY PRICE RANGE UP TO $249,999
2013 307
2014 249
2015
600
% Change (2015 v 2014)
154
Up to $249,999 $250,000-$499,999 $500,000-$749,999
500
$750,000-$999,999
-38.15%
$Above $1M
400
$250,000-$499,999
532
524
405
-22.71%
$500,000-$749,999
261
264
232
-12.12%
$750,000-$999,999
159
157
129
-17.83%
ABOVE $1M
239
254
248
-2.36%
300
200
100
0 2013
THIRD QUARTER SALES BY PRICE RANGE PRICE RANGE
2014
2015
UP TO $249,999
40%
39%
$250,000-$499,999
37%
39%
$500,000-$749,999
13%
12%
$750,000-$999,999
5%
5%
$1M-$2M
4%
4%
ABOVE $2M
1%
1%
2014
2015
2014
2015
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 300
250
200
150
100
50
0 January
February
March
April
May
2011
June
2012
July
2013
August
2014
September
2015
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 NEW YORK, NY | Web: 00110341 | $1,700,000 SAN FRANCISCO, CA | Web: 0087579 | $1,525,000 HOUSTON, TX | Web: 1233394 | $1,595,000 RESORT MARKETS PALM BEACH, FL | Web: 0076755 | $1,700,000 CAPE COD, MA | Web: 0403249 | $1,695,000 SANTA BARBARA, CA | Web: 0113946 | $1,800,000 FOREIGN MARKETS COSTA RICA | Web: S349HB | $1,350,000 ITALY | Web: JM3MBW | $1,792,115 GREECE | Web: DNJSXS | $1,792,115 sothebysrealty.com
AUCTION CALENDAR OCTOBER | NOVEMBER 2015 American Paintings, Drawings and Sculpture New York 02 Oct Modern and Contemporary Asian Art Evening Sale Hong Kong 04 Oct Photographs New York 07 Oct RM Sotheby’s: Hershey Hershey 08 – 09 Oct Property from a Distinguished Private Asian Collection New York 15 Oct Château Margaux 1900–2010 Direct From The Cellars: A Celebration of the Mentzelopoulos Era New York 17 Oct Collections: European Decorative Arts New York 17 Oct The Creative Genius of Sam Simon: A Lifetime of Memorabilia New York 22 Oct Impressionist & Modern Art Evening Sale New York 05 Nov Contemporary Art Evening Auction New York 11 Nov
American Art New York 18 Nov Latin America: Modern Art Latin America: Contemporary Art New York 19 – 20 Nov Prints & Multiples New York 23 – 24 Nov
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SIGNIFICANT SALES | Q3 2015
FORKED LIGHTNING RANCH | $19,500,000 list Ray Rush | Tim Van Camp | 505.577.5117 | 505.690.2750 (selling brokers)
7 CAMINO DON PATRON | MLS 201500047 | $1,175,000 list David Woodard | 505.920.2000
1013 PLACITA DON ANDRES | MLS 201501038 | $1,595,000 list Matthew Sargent | 505.490.1718
168 TESUQUE VILLAGE ROAD | MLS 201501267 | $1,995,000 list Darlene Streit | 505.920.8001
18 GREEN MEADOW LOOP | MLS 201405639 | $1,375,000 list Roxanne Apple | Johnnie Gillespie | 505.660.5998 | 505.690.1909
107 PASEO DEL CONEJO | MLS 201500338 | $1,100,000 list Penelope Vasquez | Johnnie Gillespie | 505.690.3751 | 505.690.1909