Q2 Market Report from Sotheby's International Realty

Q2 | 2020

Santa Fe

Market Update

TANO POINT ESTATE

Impressive Santa Fe Estate TanoPointEstate.com Offered at $15,000,000

a message from

Associate Brokers

Ricky Allen

ricky.allen@sothebyshomes.com 505.470.8233

at a glance {Q2 | APR - JUN 2020}

santa fe

and

Cathy Griffith

cathy.griffith@sothebyshomes.com 505.500.2729

4

% As we continue to navigate these unprecedented times, the health and safety of our community is our top priority. We quickly adapted to conduct business and support our clients looking to buy, sell or rent homes by conducting virtual showings, virtual open houses and rolling out our new, visually rich website, sothebysrealty.com.

Change in Median Selling Price {2020 vs 2019}

-14

%

We invite you to review a summary of sales activity in the Santa Fe area during the second quarter of 2020, based on closed production from April – June 2020. The Santa Fe Association of Realtors reports the following market data for this quarter, which is compared here for the same period of 2019.

Closed sales from the second quarter do not tell a complete story regarding the housing recovery in Santa Fe. Heading into the third quarter, we wanted to bring your attention to additional positive indicators:

Change in Units Sold {2020 vs 2019}

1261

•

Average selling price increased 5% from $459k in Q2 2019 to $483k in Q2 2020.

•

Sales in the $750k to $1M price range increased 4% from 82 properties in Q2 2019 to 85 properties in Q2 2020.

•

Average days on the market decreased 3% from 73 days in Q2 2019 to 71 days in Q2 2020.

•

Median selling price increased 4% from $360k in Q2 2019 to $375k in Q2 2020.

•

Sales in the $1M to $2M price range increased 1% from 69 properties in Q2 2019 to 70 properties in Q2 2020.

Units Sold

471k

$

Average Selling Price

Like always, we are committed to providing the highest quality service and will to continue to support our clients with a suite of virtual marketing tools that are proving effective with buyers today.

We hope you find this market report to be a valuable resource and we look forward to working with you to meet your real estate needs. If you have any questions about the Santa Fe Market, please do not hesitate to reach out to me or any of our associates at 505.988.8088.

sothebysrealty.com

231 washington avenue brokerage

505.988.8088

326 grant avenue brokerage

505.988.2533

318 grant avenue brokerage

505.982.6207

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. 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. 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. Equal housing opportunity.

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{JUN 2020 | LAST 12 MONTHS}

{JUN 2020 | LAST 12 MONTHS}

Market Share

Average Selling Prices by Top 5 Firms

Sotheby’s International Realty vs. Local Competitors

Sotheby’s International Realty vs. Local Competitors

Market Share - All Prices

Market Share - $1M Above

ASP by Competitor $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000

SIR SIR SIR

Keller Williams

Santa Fe Properties

Barker Realty

All Other

Market Share All Price Ranges 26 % 13 % 11 % 11% 39 %

SIR

Santa Fe Properties

Barker Realty

Keller Williams

Santa Fe Firm 2 Properties

All Other

Market Share Over $1 Million

Sotheby’s International Realty | Santa Fe Firm 2 Firm 3 Firm 4 Combination of Additional Companies

56 % 13 % 7% 9% 15 %

Sotheby’s International Realty | Santa Fe Firm 2 Firm 3 Firm 4

Barker Realty

Keller Williams

Firm 3

Firm 4

RE MAX First

Firm 5

Average Selling Prices

by Brokerage $

763,168

Sotheby’s International Realty - Santa Fe

$

545,230 Firm 2

$

477,089 Firm 3

$

457,722 Firm 4

$

393,629 Firm 5

Combination of Additional Companies

By dollar volume in 2019 - 2020. Obtained from the Santa Fe Association of Realtors Multiple Listing Service.

Q2 Market Share

/ The Santa Fe Q2 2020 Market Update

{JUN 2020 | LAST 12 MONTHS}

Sold Dollar Volume

by Select Area

Active Listings

by Select Area Listed by Sotheby’s International Realty

Sold by Sotheby’s International Realty

SIR Active Listings by Area SIR Sold Volume by Area $50,000,000

$20,000,000

$45,000,000

$18,000,000

$40,000,000

$16,000,000 $14,000,000

$35,000,000

$12,000,000

$30,000,000

$10,000,000

$25,000,000

$8,000,000

$20,000,000

$6,000,000

$15,000,000

$4,000,000

$10,000,000

$2,000,000

$5,000,000

$0

Las Campanas

Eastside

Northwest of City Limits

SIR Market Share By Active Listings Dollar Volume as of June 30, 2020

59 % 62 % 61 % 79%

Las Campanas Eastside Northwest of City Limits Tesuque

Tesuque

Las Campanas

Eastside

Northwest of City Limits

Tesuque

SIR Market Share

By Sold Dollar Volume July 1, 2019 - June 30, 2020

66 % 29 % 50 % 43 %

Las Campanas Eastside Northwest of City Limits Tesuque

Area Highlights

/ The Santa Fe Q2 2020 Market Update

Sales & Price Comparison

Units Sold Comparison

Q2 | All Santa Fe | Five Years

Q2 | All Santa Fe | Five Years

|Median vs ASP vs units

|

units sold by price points

Average Selling Price Median Selling Price Total Units Sold 1,600

$550,000

1,800

$500,000

1,600

$450,000

1,400

$400,000

1,200

$350,000

1,000

$300,000

800

$250,000

600

$200,000

400

200

$150,000

200

0

$100,000

0

2016

2017

Average Selling Price

2018

2019

1,400 1,200 1,000 800 600 400

2016

2017

2018

2019

2020

Median Selling Price

Total Units Sold

2020 Up to $250K $250K-$500K $500K0-$750K $750K-$1M $1M-$2M Above $2M

Total Units Sold

By Price Point {Units | Percent}

Q2

Average Selling Price

Median Selling Price

Total Units Sold

{2020 vs 2019}

Change

5%

4%

-14%

2020

$483,366

$375,000

1261

2019

$459,482

$360,000

1459

2018

$436,432

$333,000

1587

2017

$411,921

$319,000

1400

2016

$388,664

$300,000

1256

Up to $250K

$250K $500K

$500K $750K

$750K $1M

$1M $2M

Above $2M

Total

-31%

-10%

-7%

4%

1%

-29%

-14%

2020

241 | 19%

626 | 50%

229 | 18%

85 | 7%

70| 6%

10 | 1%

1261

2019

351 | 24%

696 | 48%

247 | 17%

82 | 6%

69 | 5%

14 | 1%

1459

2018

483 | 30%

693 | 44%

224 | 14%

97 | 6%

79 | 5%

11 | 1%

1587

2017

487 | 35%

571 | 41%

187 | 13%

84 | 6%

60 | 4%

11 | 1%

1400

2016

464 | 37%

536 | 43%

139 | 11%

55 | 4%

56 | 4%

6 | 0%

1256

Q2 {2020 vs 2019}

Change

Market Snapshot

/ The Santa Fe Q2 2020 Market Update

Listing Inventory

Days On Market

All Santa Fe

Q2 | All Santa Fe | Five Years

Days on Market - 5 Years Active Listings - Historic

600

450 400

500

350

400

300

300

250

200

200 150

100

100

0

2016

50

2017

2018

2019

2020

0

Up to $250K

$250K - $500K

$500K - $750K 2018

2018

2019

$750K - $1M

$1M - $2M

$2M and Up

Up to $250K $250K-$500K $500K-$750K $750K-$1M $1M-$2M Above $2M

2020

2019

Average Days on Market

2020

Active Listings for all of Santa Fe County as of June 30, 2020

Up to $250K

$250K $500K

$500K $750K

$750K $1M

$1M $2M

Above $2M

Total

9%

-4%

-23%

-31%

2%

126%

-3%

2020

81

52

60

75

171

498

71

Q2 {2020 vs 2019}

Change

Up to $250K

$250K $500K

$500K $750K

$750K $1M

$1M $2M

Above $2M

Total

-39%

-44%

-23%

-26%

-14%

-18%

-32%

2019

74

54

78

109

168

220

73

2020

159

219

147

100

136

63

824

2018

94

66

93

130

156

262

88

2019

259

389

192

135

158

77

1210

2017

141

114

150

191

187

303

139

2018

272

334

204

139

166

85

1200

2016

147

140

171

231

213

300

154

Q2 {2020 vs 2019}

Change

Market Snapshot

/ The Santa Fe Q2 2020 Market Update

Extraordinary Results We celebrate the notable success of our associates and clients

66 CAMINO DE MILAGRO

Private Hilltop Equestrian Estate Last asking $2,425,000 108 PASEO ENCANTADO SW

Pueblo Revival-style home Last asking $1,695,000 1978 CERROS COLORADOS

Cerros Colorados Contemporary Last asking $1,695,000 35 CALLE VENTOSO WEST

Ultimate Santa Fe Lifestyle Last asking $1,695,000 121 B CAMINO ACOTE

Contemporary Farmhouse Last asking $745,000

*in order from left to right, top to bottom

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PHOTO BY GIAMMARCO BOSCARO ON UNSPLASH

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