Each quarter, Sotheby’s International Realty (SIR) produces the SANTA FE MARKET UPDATE – a newsletter that not only provides clear and informative market statistics, summarizing the state of the Santa Fe real estate market, it also highlights some of the area’s most outstanding available properties and extraordinary properties that have recently sold.
The Santa Fe Market Update is distributed in several ways: it is emailed to nearly 1,000 brokers including 120 local SIR brokers and all other brokers who are members of the Santa Fe Association of Realtors; it is posted on our Santa Fe website and our international website, SothebysHomes.com; and SIR also posts each new Market Update on our Santa Fe Facebook page which has over 700 followers. Since that post can be sent to “Friends” by other Facebook users, the amount of exposure is increased dramatically by subsequent reposts.
The Neil Lyon Group always customizes each issue to feature the listings and purchases it has transacted during the time frame of that report. The Neil Lyon Group’s Market Update is distributed to our highly-curated email list, made up of hundreds of key clients developed over two decades and a large group of highly experienced and productive real estate agents and brokers from primarily around the US. In total, nearly 700 highly vetted and qualified contacts receive the Neil Lyon Group Market Updates.
The 2018 First Quarter report shows Santa Fe’s real estate market continued to move at a robust and healthy pace. According to the Santa Fe Association of Realtors MLS, total residential sales of single-family homes, townhomes and condominiums rose by 16% as compared to the same period last year. Median prices of residential sales rose by 7% while the average selling price rose by 5% to $422K.
The first quarter also resulted in a significant decrease in days on market in all price categories, except for homes priced from $2M and above. Inventories of existing residential housing decreased to their lowest level in the last three years in all price categories, except for homes priced from $2M and above, which remained relatively flat.
As always, our goal in sharing this data is to create a better understanding of the trends affecting our unique housing market. If you have any questions about the Santa Fe market, please do not hesitate to reach out to us.
View the complete report here.
Neil Lyon is the exclusive agent representing the Santa Fe, New Mexico real estate market as a member of the Haute Residence Real Estate Network. View all of his listings here.