Santa Fe Market Update | Q1 2018

Q1 | 2018

Santa Fe

Market Update

STUNNING HOME IN THE HIGH SUMMIT

sothebyshomes.com/0566112 Offered at $1,850,000

at a glance {Q1 | JAN - MAR 2018}

santa fe

7

%

Change in Median Selling Price {2018 v 2017}

16

%

Change in Units Sold {2018 v 2017}

697 Units Sold

421.7k

$

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 Santa Fe’s real estate market continued to move at a robust and healthy pace throughout the first quarter of 2018. Total residential sales of single-family homes, townhomes and condos in Santa Fe County rose by 16% over the same period last year, according to the Santa Fe Association of Realtors MLS. 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 with the exception of 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 with the exception of homes priced from $2M and above which remained relatively flat.

As always, our goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market.

We hope you find it to be a valuable resource, and we look forward to working with you to meet your real estate needs now and in the future. If you have any questions about the Santa Fe market, please do not hesitate to reach out to me.

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

MODERN LIVING IN CLASSIC SANTA FE STYLE

930 Cerro de la Paz | Offered at $3,000,000 sothebyshomes.com/0566088

233 CANYON ROAD - CAFFE GRECO

Offered at $3,995,000 sothebyshomes.com/0576125 150 PASEO ARAGON

Offered at $3,795,000 sothebyshomes.com/ 0576074 825 EL CAMINITO

Offered at $3,200,000 sothebyshomes.com/0566046 137 THUNDERCLOUD ROAD

Offered at $2,490,000 sothebyshomes.com/0565366 *in order from left to right, top to bottom

sothebyshomes.com/santafe

{MAR 2018 | LAST 12 MONTHS}

Market Share

Sotheby’s International Realty vs. Local Competitors

Market Share - All Prices

SIR

Firm 2

Firm 3

Firm 4

SIR

All Other

Market Share All Price Ranges 30 % 12 % 11 % 11 % 36 %

Market Share - $1M Above

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 2017 - 2018. Obtained from the Santa Fe Asscociation of Realtors Multiple Listing Service.

64 % 11 % 11 % 10 % 4%

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

{MAR 2018 | 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 $

685,268

Sotheby’s International Realty - Santa Fe

$

493,149 Firm 2

$

470,950 Firm 3

$

394,254 Firm 4

Q1 Market Share

$

346,716 Firm 5

/ The Santa Fe Q1 Market Update

Active Listings

by Select Area Listed by Sotheby’s International Realty

SIR Active Listings by Area

$80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0

Sierra del Norte Las Campanas

Eastside

Northwest of City Limits

SIR Market Share Percentage By Active Listings Dollar Volume as of March 31, 2018

88 % 64 % 71 % 64 % 69 %

Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque

Tesuque

{MAR 2018 | LAST 12 MONTHS}

Sold Dollar Volume

by Select Area Sold by Sotheby’s International Realty

SIR Sold Volume by Area $21,000,000 $18,000,000 $15,000,000 $12,000,000 $9,000,000 $6,000,000 $3,000,000 $0

Sierra del Norte

Las Campanas

Eastside

Northwest of City Limits

Tesuque

SIR Market Share Percentage

By Sold Dollar Volume April 1, 2017 - March 31, 2018

100% 71 % 60 % 45 % 76 %

Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque

Area Highlights

/ The Santa Fe Q1 Market Update

Sales & Price Comparison Q1 | All Santa Fe | Five Years

|

|

Average Selling Price Median Selling Price Total Units Sold Median vs ASP vs units 700

$425,000 $400,000

600

$375,000 $350,000

500

$325,000

400

$300,000 300

$275,000 $250,000

200

$225,000

100

$200,000 $175,000

0

2014

2015

Average Selling Price

2016

2017

2018

Median Selling Price

Total Units Sold

Average Selling Price

Median Selling Price

Total Units Sold

5%

7%

16%

2018

$421,721

$320,000

697

2017

$402,779

$299,500

600

2016

$383,845

$282,750

522

2015

$360,873

$264,200

507

2014

$370,633

$272,800

497

Q1 {2018 v 2017}

Change

Units Sold Comparison Q1 | All Santa Fe | Five Years

units sold by price points 700 600 500 400 300 200 100 0

2014

2015

2016

2017

2018 Up to $250K $250K-$500K $500K0-$750K $750K-$1M $1M-$2M Above $2M

Total Units Sold

By Price Point {Units | Percent}

Up to $250K

$250K $500K

$500K $750K

$750K $1M

$1M $2M

Above $2M

Total

-1%

27%

41%

-5%

43%

40%

16%

2018

234 | 34%

280 | 40%

107 | 15%

36 | 5%

33 | 5%

7 | 1%

697

2017

237 | 40%

221 | 37%

76 | 13%

38 | 6%

23 | 4%

5 | 1%

600

2016

222 | 43%

203 | 39%

50 | 10%

15 | 3%

28 | 5%

4 | 1%

522

2015

234 | 46%

171 | 34%

63 | 12%

19 | 4%

17 | 3%

3 | 1%

507

2014

228 | 46%

158 | 32%

55 | 11%

34 | 7%

20 | 4%

2 | 0%

497

Q1 {2018 v 2017}

Change

Market Snapshot

/ The Santa Fe Q1 Market Update

Listing Inventory

All Santa Fe

Active Listings - Historic 315 285 255 225 195 165 135 105 75 45 15

Up to $250K

$250K - $500K

$500K - $750K 2016

2016

$750K - $1M

2017

$1M - $2M

$2M and Up

2018

2017

2018

Active Listings for all of Santa Fe County as of March 31

Up to $250K

$250K $500K

$500K $750K

$750K $1M

$1M $2M

Above $2M

Total

-44%

-39%

-21%

-33%

-3%

2%

-28%

2018

82

169

121

90

125

52

639

2017

146

277

154

135

129

51

892

2016

128

302

190

96

149

53

918

Q1 {2018 v 2017}

Change

Days On Market Q1 | All Santa Fe | Five Years

Days on Market - 5 Years 375 300 225 150 75 0

2014

2015

2016

2017

2018

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

Average Days on Market Up to $250K

$250K $500K

$500K $750K

$750K $1M

$1M $2M

Above $2M

Total

-30%

-41%

-34%

-45%

-41%

51%

-35%

2017

112

73

97

125

157

339

99

2016

159

123

148

229

267

225

153

2015

163

158

212

162

208

340

170

2014

185

165

209

360

230

208

189

2013

180

173

254

225

176

56

188

Q1 {2018 v 2017}

Change

Market Snapshot

/ The Santa Fe Q1 Market Update

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

962 CERRO DE LA PAZ

Contemporary Masterpiece Last asking $3,000,000

21 BIG TESUQUE CANYON

Artful Living in Tesuque Last asking $3,470,000 PENASCO CIRCLE

Extraordinary Custom Estate Last asking $2,995,000 922 CANYON ROAD

The Historic Gerald Cassidy Estate Last asking $2,915,000 1086 MANSION RIDGE ROAD

Majestic Gated Estate Last asking $2,275,000 *in order from left to right, top to bottom

sothebyshomes.com/santa fe

April & May 2018 New York Auction Calendar Magnificent Jewels Auction 18 April The Jeweler’s Eye: The Personal Collection of Fred Leighton Auction 18 April Fine Jewels Auction 19 April Luxe: Art of Design European Decorative Arts & 20th Century Design Auctions 20 & 22 April Life + Curated: The Victor A. Diaz Collection Auction 20 April Finest & Rarest Wines Auction 21 April Print & Multiples Auction 26–27 April Impressionist & Modern Art Evening & Day Sales Auctions 14 & 15 May Raising The Bar: Masterworks from the Collection of Morton and Barbara Mandel Auction 16 May Contemporary Art Evening & Day Auctions Auctions 16 & 17 May Property from a Distinguished New York Private Collection JACKSON POLLOCK Number 32, 1949 To be offered in New York Contemporary Evening Auction 16 May

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions.

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