Santa Fe Market Update | Q3 2017

Q3 | 2017

Santa Fe

Market Update

SANTA FE LEGACY

sothebyshomes.com/0565834 Offered at $7,000,000

at a glance {Q3 | JAN - SEPT 2017}

santa fe

8

%

Change in Average Selling Price {2017 v 2016}

9

%

Change in Units Sold {2017 v 2016}

2152 Units Sold

431k

$

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 The stats reflecting activity during the third quarter of 2017 are in and what is revealed is positive news on almost every front. According to figures obtained from the Santa Fe MLS, when comparing the third quarter of 2017 to the third quarter of 2016, the average selling price of residential properties rose by nearly 8%, the median selling price increased by 5% and number of units sold increased by nearly 10%. Robust rates of activity occurred in the $500,000 to $750,000 price bands, the $750,000 to $1M price bands, the $1M to $2M price bands as well as the $2M+ price bands. In fact, the $2M+ price band has had 20 sales recorded in 2017 to date, that number more than doubling over one year ago (20 vs. eight). In addition, in the third quarter of 2017, overall days on market declined to 118 days, down from 143 days in the third quarter of 2016, a 17% decline.

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

EASTSIDE GARDEN OASIS

1243 Canyon Road | Offered at $4,999,000 sothebyshomes.com/0576002

33 CAMINO MONTUOSO

Offered at $3,250,000 sothebyshomes.com/0575939 SHIDONI IN TESUQUE

Offered at $2,990,000 sothebyshomes.com/0565564 704 CAMINO OCASO DEL SOL

Offered at $2,450,000 sothebyshomes.com/0565767 1115 CALLE CONEJO

Offered at $2,100,000 sothebyshomes.com/0575881 *in order from left to right, top to bottom

sothebyshomes.com/santafe

{SEPT 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 % 14 % 11 % 11 % 36 %

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.

54 % 15 % 8% 6% 17 %

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

{SEPT 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 $

642,279

Sotheby’s International Realty - Santa Fe

$

483,501 Firm 2

$

406,215 Firm 3

$

393,613 Firm 4

Q3 Market Share

$

300,293 Firm 5

/ The Santa Fe Q3 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 September 30, 2017

85 % 69 % 68 % 58 % 68 %

Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque

Tesuque

Northwest of City Limits

Eastside

Las Campanas

Sierra del Norte

$0

{SEPT 2017 | LAST 12 MONTHS}

Sold Dollar Volume

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 October 1, 2016 - Sept 30, 2017

57% 58 % 55 % 47 % 50 %

Sierra del Norte Las Campanas Eastside Northwest of City Limits Tesuque

Area Highlights

/ The Santa Fe Q3 Market Update

Sales & Price Comparison Q3 | All Santa Fe | Five Years

|

|

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

$500,000

2500

$450,000 $400,000

2000

$350,000 $300,000

1500

$250,000 $200,000

1000

$150,000 $100,000

500

$50,000 $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

8%

5%

10%

2017

$430,788

$328,658

2151

2016

$399,843

$312,588

1959

2015

$386,886

$290,000

2363

2014

$389,548

$291,500

1665

2013

$389,150

$300,000

1593

Q3 {2017 v 2016}

Change

Units Sold Comparison Q3 | All Santa Fe | Five Years

units by price points 2200 2000 1800 1600 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

1%

8%

18%

49%

17%

150%

10%

2017

673

916

303

137

102

20

2151

2016

665

850

257

92

87

8

1959

2015

743

736

233

95

72

11

1890

2014

675

614

208

94

62

12

1665

2013

613

627

188

95

59

11

1593

Q3 {2017 v 2016}

Change

Market Snapshot

/ The Santa Fe Q3 Market Update

Listing Inventory All Santa Fe

Active Listings - Current Quarter 500 450 400 350 300 250 200 150 100 50

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

297 437 262 162 198 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

Days on Market - 5 Years

Q3 | All Santa Fe | Five 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

-11%

-26%

-25%

-20%

-4%

8%

-17%

2017

122

95

124

168

185

281

118

2016

137

128

166

209

193

261

143

2015

169

161

169

220

197

242

170

2014

171

168

194

252

197

274

179

2013

166

167

203

229

230

395

178

Q3 {2017 v 2016}

Change

Market Snapshot

/ The Santa Fe Q3 Market Update

8 PICACHO PEAK DRIVE

Unique Las Campanas Home Last asking $2,300,000

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

801 VISTA CATEDRAL

Stunning Eastside Estate Last asking $3,500,000 TURTLE WALK

Millicent Rogers Estate Last asking $2,900,000 84 CIRCLE DRIVE COMPOUND

Handsome Circle Drive Home Last asking $1,750,000 152 CALLE VENTOSO WEST

Private Custom Las Campanas Sanctuary Last asking $1,425,000 *in order from left to right, top to bottom

sothebyshomes.com/santa fe

Property from a Distinguished Private Collection ANDY WARHOL Dollar Sign, 1981 To be sold 16 November in New York Contemporary Art Evening Auction

November 2017 New York Auction Calendar

Impressionist & Modern Art Evening Sale Auction 14 November Impressionist & Modern Art Day Sale Auction 15 November Contemporary Art Evening Auction Auction 16 November Contemporary Art Day Auction Auction 17 November

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

1334 YORK AVENUE, NEW YORK, NY 10021 ENQUIRIES +1 212 606 7000 SOTHEBYSHOMES.COM SOTHEBYS.COM/AUCTIONS FOLLOW US @SOTHEBYS © 2017 ANDY WARHOL FOUNDATION FOR THE VISUAL ARTS / ARTISTS RIGHTS SOCIETY (ARS), NEW YORK SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2017