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