Santa Fe Market Update | Q2 2017

Q2 | 2017

Santa Fe

Market Update

ANASAZI CONTEMPORARY

sothebyshomes.com/0565535 Offered at $3,950,000

at a glance {Q2 | JAN - JUNE 2017}

santa fe

6

%

Change in Average Selling Price {2017 v 2016}

11

%

Change in Units Sold {2017 v 2016}

1389 Units Sold

412,531

$

Average Selling Price

231 washington avenue brokerage

505.988.8088

326 grant avenue brokerage

505.988.2533

318 grant avenue brokerage

505.982.6207

a message from

Gregg Antonsen

Santa Fe Senior Vice President and Qualifying Broker Sales activity in Santa Fe during the second quarter of 2017 continued to support the vigorous growth pattern established throughout the first quarter of the year. According to the Santa Fe Association of Realtors MLS, sales prices for residential properties – both average and median – rose by 6% and total units sold increased by 11% when compared to the second quarter of 2016. This is the third consecutive year that second quarter average selling price and total units sold reported increased activity in the Santa Fe real estate market. Throughout the second quarter, all price segments experienced increased sales including an increase in units sold by 4% in homes up to $250K to a 150% increase in homes above $2M, which changed from four to ten units sold year over year. Impressive sales activity also occurred in homes sold from $750K to $1M, a 53% increase from 55 to 84 units sold, and those sold in the $500K-$750K range which registered a 32% increase when compared to the second quarter of 2016.

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. 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.

Featured Properties We invite you to explore our exclusive offerings at S OTHEBYS H O ME S.C O M/ SANTAF E

EXTRAORDINARY VIEWS

84 Circle Drive Compound | Offered at $1,750,000 sothebyshomes.com/0575709

14 VIA DE ZORRITOS

Offered at $5,900,000 sothebyshomes.com/1092898 10 ALTAZANO DRIVE

Offered at $4,900,000 sothebyshomes.com/1092725 890 PASEO DE DON CARLOS

Offered at $3,875,000 sothebyshomes.com/0565640 HACIENDA DEL SOL

Offered at $2,950,000 sothebyshomes.com/0565622 *in order from left to right, top to bottom

santafe

{JUNE 2017 | LAST 12 MONTHS}

Market Share

Sotheby’s International Realty vs. Local Competitors

Market Share - All Prices

SIR

Firm 2

Firm 3

Firm 4

All Other

Market Share All Price Ranges 28 % 13 % 12 % 12 % 35 %

Market Share - $1M Above

SIR

Firm 2

Firm 3

Firm 4

All Other

Market Share Over $1 Million

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

By dollar volume in 2016 - 2017. Obtained from the Santa Fe Asscociation of Realtors Multiple Listing Service.

53 % 14 % 11 % 7% 15 %

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

{JUNE 2017 | LAST 12 MONTHS}

Average Selling Prices by Top 5 Firms Sotheby’s International Realty vs. Local Competitors

ASP by Competitor $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0

SIR

Firm 2

Firm 3

Firm 4

Firm 5

Average Selling Prices

by Brokerage $

617,714

Sotheby’s International Realty - Santa Fe

$

469,538 Firm 2

$

429,065 Firm 3

$

390,035 Firm 4

Q2 Market Share

$

288,564 Firm 5

/ The Santa Fe Q2 Market Update

Active Listings

by Select Area Listed by Sotheby’s International Realty

SIR Active Listings by Area

$90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000

SIR Market Share Percentage By Active Listings Dollar Volume as of June 30, 2017

71 % 63 % 64 % 60 % 61 %

Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque

Tesuque

Northwest of City Limits

Eastside

Las Campanas

Sierra del Norte

$0

{JUNE 2017 | LAST 12 MONTHS}

Units Sold

by Select Area Sold by Sotheby’s International Realty

SIR Sold Volume by Area $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000

Tesuque

Northwest of City Limits

Eastside

Sierra del Norte

Las Campanas

$0

SIR Market Share Percentage

By Sold Dollar Volume July 1, 2016 - June 30, 2017

62% 58 % 52 % 46 % 53 %

Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque

Area Highlights

/ The Santa Fe Q2 Market Update

Sales & Price Comparison Q2 | All Santa Fe | Five Years

|

|

Average Selling Price Median Selling Price Total Units Sold Median vs ASP vs units

$450,000

1600

$400,000

1400

$350,000

1200

$300,000

1000

$250,000

800

$200,000

600

$150,000 $100,000

400

$50,000

200

$0

0

2013

2014

Average Selling Price

2015

2016

2017

Median Selling Price

Total Units Sold

Average Selling Price

Median Selling Price

Total Units Sold

6%

6%

11%

2017

$412,531

$319,000

1389

2016

$388,664

$300,000

1256

2015

$373,576

$275,000

1235

2014

$375,006

$275,000

1083

2013

$366,709

$279,500

1002

{2017 v 2016}

Change

Units Sold Comparison Q2 | All Santa Fe | Five Years

units by price points 1400 1200 1000 800 600 400 200 0

2013

2014

2015

2016

2017 Up to $249,999 $250,000-$499,999 $500,000-$749,000 $750,000-$999,999 $1M-$2M Above $2M

Total Units Sold

By Price Point Up to $250K

$250K $500K

$500K $750K

$750K $1M

$1M $2M

Above $2M

Total

4%

6%

32%

53%

5%

150%

11%

2017

482

569

183

84

61

10

1389

2016

464

536

139

55

58

4

1256

2015

525

450

148

57

48

7

1235

2014

483

365

124

65

38

8

1083

2013

434

369

108

53

31

7

1002

{2017 v 2016}

Change

Market Snapshot

/ The Santa Fe Q2 Market Update

Listing Inventory All Santa Fe

Active Listings - Current Quarter 1200 1000 800 600 400 200

Active Listings for all of Santa Fe County as of June 30, 2017

1051 454 246 182 206 79

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

$2M and Up

$1M - $2M

$750K - $1M

$500K - $750K

$250K - $500K

Up to $250K

0

Days On Market Q2 | All Santa Fe | Five Years

Days on Market - 5 Years 450 400 350 300 250 200 150 100

2013

2014

2015

2016

2017 Up to $249,999 $250,000-$499,999 $500,000-$749,000 $750,000-$999,999 $1M-$2M Above $2M

Average Days on Market Up to $250K

$250K $500K

$500K $750K

$750K $1M

$1M $2M

Above $2M

Total

-1%

-16%

-10%

-16%

6%

-24%

-8%

2017

147

117

154

193

224

274

142

2016

148

140

171

231

212

359

154

2015

180

172

176

241

212

320

181

2014

172

186

216

232

204

258

187

2013

173

184

215

254

201

413

188

{2017 v 2016}

Change

Market Snapshot

/ The Santa Fe Q2 Market Update

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

500 GARCIA

Exemplary Eastside Style Last asking $2,800,000

711 CAMINO CORRALES

A Magnificent and Historic Hacienda Last asking $4,250,000 1056 SIERRA DEL NORTE

Contemporary Masterwork Last asking $3,500,000 1146 CANYON ROAD

Beautifully-Renovated and Gorgeously-Landscaped Last asking $1,825,000 21 CHISHOLM TRAIL

Jeffrey Harnar Original Last asking $1,395,000 *in order from left to right, top to bottom

sothebyshomes.com/santa fe

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