Santa Fe Market Update | Q4 2015

Santa Fe, NM | mls: 201503595

Santa Fe Market Update Fourth 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/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 Results posted during the fourth quarter of 2015 showed a continued pattern of upbeat news for the real estate market in Santa Fe led by an increase in unit sales from one year ago. This was accompanied by a decrease in days on market in all price categories. According to The Santa Fe Association of Realtors MLS, of six price bands, four reflected increases in closed sales with only two price bands experiencing a decrease in sales. Sales activity from $750,000 to $999,999 were down by 4%.

For 2015, sales of residential properties resulted in ten months of increased activity. Pending sales increased during each of the two preceding years with 2014 showing a 5% increase over 2013 and 2015 showing a 4% increase over 2014. Closed sales in 2015 resulted in even more positive news with a healthy 10% increase over 2014.

Months supply of available inventory during the fourth quarter of the 2015 has contracted since 2013 when a year supply was recorded compared to an 11 month supply in 2014 and an eight month supply during the fourth quarter of 2015 – a 24.3% decrease from the year prior. If this trend continues, market forces in Santa Fe could result in gradual upward pressures on prices.

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

FOURTH QUARTER ACTIVITY Number of Units Sold, Average DOM, and Average Sales Price for Residential Listings Sold in All Areas for All Four Quarters of 2006 through 2015 3500

Units Sold

3000 3095

$486,375

2500

Avg. DOM

$600,000

Avg. Sales Price

$500,000

$473,255

$447,755

$405,950

$402,721

$389,004

$415,166

1676

1568

1713

1500

2240

$395,987

$300,000

1696

1970

2132

2247

2000

$396,410

2467

$400,000 $394,807

$200,000

1000

$100,000

500 157

161

182

191

196

206

215

176

179

166

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

10 HACIENDA CABALLERO MLS 201503430 | $2,100,000 A bright four-bedroom home with amazing views, a spa-like master suite, inviting outdoor spaces for entertaining, and a guesthouse.

Abigail Davidson 505.570.0335

11 CAMINO DEL ALBA MLS 201503883 | $3,375,000 This view-filled home overlooks the Santa Fe Opera and features an elegant master suite, country kitchen, lovely outdoor areas, home theater, and a guest casita.

David Woodard 505.920.2000

RED CANYON RANCH MLS 201503977 | $4,500,000 This 6,500-acre ranch has a fishing pond, bird pens, hunting cabins, horse corrals, a custom 8,500square-foot home, and a 1,200-square-foot casita.

Ricky Allen 505.470.8233

SALES

SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS

FOURTH QUARTER CLOSED SALES 2013

2014

2015

% Change (2014 v 2015)

UP TO $249,999

806

893

950

6.38%

$250,000-$499,999

855

822

972

18.25%

$500,000-$749,999

254

285

307

7.72%

$750,000-$999,999

113

128

123

-3.91%

$1-$2 MILLION

90

98

104

6.12%

ABOVE $2 MILLION

14

14

11

-21.43%

PRICE RANGE

1000 950 900 850 800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 0

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

2013

2014

2015

FOURTH QUARTER AVERAGE DAYS ON MARKET PRICE RANGE

2013

2014

2015

% Change (2014 v 2015)

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

350

UP TO $249,999

166

173

161

-6.94%

$250,000-$499,999

166

167

156

-6.59%

$500,000-$749,999

192

193

177

-8.29%

200

$750,000-$999,999

235

237

214

-9.70%

150

$1-$2 MILLION

216

214

209

-2.34%

ABOVE $2 MILLION

353

266

242

-9.02%

$500,000-$749,999 $750,000-$999,999

300

$1 - $2 MILLION Above $2 MILLION

250

100

50

0

2013

2014

2015

FOURTH QUARTER AVERAGE & MEDIAN SALES PRICES $600,000

YEAR

AVERAGE SALE PRICE

MEDIAN SALE PRICE

$447,755 $486,375 $473,255 $405,950 $402,721 $415,166 $394,807 $396,410 $395,987 $389,004

$345,000 $373,000 $330,000 $299,500 $305,000 $300,000 $292,500 $300,000 $295,000 $293,000

Average Sales Price Median Sales Price

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

$500,000

$400,000

$300,000

$200,000

$100,000

$0

sothebyshomes.com/santafe

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

SALES

SINGLE FAMILY HOMES, TOWNHOUSES, CONDOMINIUMS

LISTING INVENTORY AS OF 12/31: SANTA FE COUNTY 500

PRICE RANGE UP TO $249,999

2013

2014

2015

% Change (2015 v 2014)

264

238

143

-39.92%

$250,000-$499,999

445

420

296

-29.52%

$500,000-$749,999

181

219

204

-6.85%

$750,000-$999,999

146

129

122

-5.43%

ABOVE $1 MILLION

219

Up to $249,999

450

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

400

$750,000-$999,999

350

Above $1 MILLION

300 250 200 150 100

210

222

5.71%

50 0 2013

FOURTH 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%

$1-$2 MILLION

4%

4%

ABOVE $2 MILLION

1%

1%

2014

2014

2015

2015

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 300

2011

2012

2013

2014

2015

250

200

150

100

50

0

January

February

March

April

May

June

July

August

September

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 | $1,599,000 SAN FRANCISCO, CA | Web: 0087632 | $1,749,000 HOUSTON, TX | Web: 1232477 | $1,450,000 RESORT MARKETS MALIBU, CA | Web: 1290290 | $1,569,000 EAST HAMPTON, NY | Web: 0046917 | $1,499,000 SANTA BARBARA, CA | Web: 0592915 | $1,295,000 FOREIGN MARKETS MUMBAI | Web: 95M3MN | $1,358,798 SOUTH AFRICA | Web: QBJHBF | $1,414,109 COSTA RICA | Web: S349HB | $1,350,000 sothebysrealty.com

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SIGNIFICANT SALES | Q4 2015

MONTE SERENO | MLS 201306002 | $15,000,000 list Paul McDonald | 505.780.1008

984 ACEQUIA MADRE | MLS 201502557 | $1,610,000 list Stedman/Kehoe/Hirsch Team | 505.670.5566 (listing brokers) Judith Ivey/Jane Reid | 505.577.5157/505.629.9821 (selling brokers)

1023 SIERRA DEL NORTE | MLS 201502278 | $1,895,000 list Shane Cronenweth | 505.577.2000

804 APODACA HILL ROAD | MLS 201502007 | $1,495,000 list Darlene Streit | 505.920.8001 (listing broker) Ashley Margetson | 505.920.2300 (selling broker)

1444 NEVADO RIDGE | MLS 201503804 | $1,595,000 list Abigail Davidson | 505.570.0335

1490 WILDERNESS GATE ROAD | MLS 201502329 | $1,995,000 list Paige Ingebritson Maxwell | 505.660.4141