Santa Fe Real Estate Statistics

Same Story for Santa Fe Real Estate in September – Most Prices Up, A Few Down, With No Noticeable Trends 

We’re waiting for a boost in real estate activity resulting from the recent .50 Fed cut in interests rates, but as of the end of September, there is little evidence of any significant change in pricing, days-on-the-market, etc.  More areas show price increases than decreases, but there was nothing that can be called a trend.

4N-SF, within the city limits, had the largest percentage increases in the average price of properties sold ($615,000, up from $413,000 in August) and price per sq. ft. ($378.00, up from $282.00).  Las Campanas also showed increases in average sales price and price-per-sq. ft., but average days-on- the-market jumped from 33 to 80.

Rancho Viejo had a decrease in both average sales price ($549,000 from $663,000) and price-per-sq.-ft. ($319 from $344).

September 2024 Real Estate Statistics for Key Areas in Santa Fe, New Mexico

1-SF City Limits; 3N-SF City SE North; 4N-SF City Limit SWN; 14-El Dorado; 24-Las Campanas; 25N-NW Quadrant-N; 25S-NW Quadrant-S; 27RV-Rancho Viejo.         ~SEE MAP BELOW STATISTICS~

AREA     ACTIVE         SOLD     AVG. DAYS on MKT.   AVG.  PRICE     AVG. $/SF

1                    90                       14                        41                  $ 1,038,000       $ 615.00

3N                72                        13                        35                  $    903,000       $ 623.00

4N                29                        10                       29                  $    615,000        $ 378.00

14                 23                         12                        24                  $   721,000         $ 335.00

24                 46                        12                       80                   $ 2,129,000       $ 621.00

25N-NW    30                          3                       70                   $ 1,417,000        $ 510.00

25S-NW     13                          3                        17                   $ 1,010,000        $ 419.00

27RV             6                           5                       31                    $   549,000        $ 319.00

Santa Fe Real Estate Activity Strong in August, But Price Movement Mixed  

While overall real estate sales activity remained relatively strong in August, the statistics show sales prices and price per sq. ft. going up in some areas and down in others.

Areas 1 and 3N-SF, in the heart of Santa Fe, showed increases in average price per sq. ft., as well as a jump in the total number of properties sold.  25S-NW had significant increases in average sales price and average price per sq. ft.

On the other hand, area 4N-SF also close to town, had large decreases in average sales price and price per sq. ft.  Area 24, Las Campanas, and  area 25N-NW, also had significant decreases in average sales price and average price per sq. ft.

August 2024 Real Estate Statistics for Key Areas in Santa Fe, New Mexico,

1-SF City Limits; 3N-SF City SE North; 4N-SF City Limit SWN; 14-El Dorado; 24-Las Campanas; 25N-NW Quadrant-N; 25S-NW Quadrant-S; 27RV-Rancho Viejo.         ~SEE MAP BELOW STATISTICS~

AREA     ACTIVE         SOLD     AVG. DAYS on MKT.   AVG.  PRICE     AVG. $/SF

1                    93                       27                        56                  $ 1,323,000       $573.00

3N                69                       21                        43                  $1,257,000        $611.00

4N                32                         9                        31                    $   413,000        $282.00

14                 19                         11                        30                   $  636,000         $348.00

24                 44                        10                       33                   $1,998,000         $603.00

25N-NW    26                          3                       38                   $1,318,000         $463.00

25S-NW     13                          4                         61                  $ 1,074,000         $494.00

27RV             8                           7                         27                $    663,000           $344.00

 

Santa Fe Real Estate Activity Picks Up Dramatically in July  

The July residential real estate sales statistics for key areas in Santa Fe showed a dramatic increase in activity across the board as well as substantial price increases in three of the eight areas featured.

All areas had increases in new inventory coming on the market.  Las Campanas and the North and South NW Quadrants saw significant increases in average price of properties sold and price per sq. ft., with Las Campanas leading the way with a jump of $600,000 in average sales price and $100.00 in price per sq. ft.  Five of the eight areas also recorded a drop in average days on the market.

July 2024 Real Estate Statistics for Key Areas in Santa Fe, New Mexico,

1-SF City Limits; 3N-SF City SE North; 4N-SF City Limit SWN; 14-El Dorado; 24-Las Campanas; 25N-NW Quadrant-N; 25S-NW Quadrant-S; 27RV-Rancho Viejo.         ~SEE MAP BELOW STATISTICS~

AREA     ACTIVE         SOLD     AVG. DAYS on MKT.   AVG.  PRICE     AVG. $/SF

1                   105                      12                      130                  $ 1,424000       $479.00

3N                80                       16                        26                  $1,329,000        $600.00

4N                41                        17                        39                  $  558,000         $344.00

14                 29                        13                         7                   $   737,000         $349.00

24                 52                         4                        33                  $2,454,000         $629.00

25N-NW     25                          1                          3                  $1,885,000         $554.00

25S-NW     20                          6                         31                 $ 1,013,000         $427.00

27RV           19                          6                          16                $    566,000         $357.00

Market Direction is Down Per June Real Estate Sales Statistics in Santa Fe 

The June residential sales statistics for key areas in Santa Fe showed more downward movement than up, but in most areas the price decreases were slight, with not enough consistency over the different areas to start a serious conversation about a trend.

The most notable contrast to May’s statistics was in area 25S-NW, where average days on the market jumped significantly from 26 to 136, the average sales price dropped to $811,000 from $1,145,000, and the average price per sq. ft. was down to $318.00 from $464.00.  At the same time, in area 1, inside the City limits, the average days on the market dropped from 57 to 24, and the average price per sq. ft. increased to $533.00 from $525.00.

June 2024 Real Estate Statistics for the Santa Fe, New Mexico, Area

1-SF City Limits; 3N-SF City SE North; 4N-SF City Limit SWN; 14-El Dorado; 24-Las Campanas; 25N-NW Quadrant-N; 25S-NW Quadrant-S; 27RV-Rancho Viejo.         ~SEE MAP BELOW STATISTICS~

AREA     ACTIVE         SOLD     AVG. DAYS on MKT.   AVG.  PRICE     AVG. $/SF

1                    91                      12                        24                   $     887,000       $533.00

3N                59                      14                        25                   $1,344,000        $631.00

4N               25                      11                           9                    $  509,000         $364.00

14                 17                       6                           41                    $ 715,000           $366.00

24                42                       8                           73                   $1,791,000         $529.00

25N-NW   24                       5                          67                    $1,509,000       $478.00

25S-NW     10                       4                         136                   $  811,000          $318.00

27RV            15                       4                           23                    $ 618,000         $338.00

Days on Market/Sales Cycle Shortens in May 

The May residential sales statistics for key areas in Santa Fe showed some signs of upward movement in average sales price and price per sq. ft., but the most consistent sign of a strengthening market was a drop in days-on-the-market.

The Santa Fe area with the most dramatic uptick across the range of statistics was 3N, which had a drop in average days on the market from 100 in April to 31 in May.  The average sales price in 3N increased from $1,032,000 to $1,400,000, while the price per sq. ft. climbed to $638.00 from $528.00.

May 2024 Real Estate Statistics for the Santa Fe, New Mexico, Area

1-SF City Limits; 3N-SF City SE North; 4N-SF City Limit SWN; 14-El Dorado; 24-Las Campanas; 25N-NW Quadrant-N; 25S-NW Quadrant-S; 27RV-Rancho Viejo.         ~SEE MAP BELOW STATISTICS~

AREA     ACTIVE         SOLD     AVG. DAYS on MKT.   AVG.  PRICE     AVG. $/SF

1                    88                      26                       57                   $1,221,000         $525.00

3N                53                      13                        31                    $1,400,000        $638.00

4N               30                      10                         17                   $543,000           $398.00

14                  6                        8                          9                    $676,000           $375.00

24                48                        2                        37                   $2,175,000        $639.00

25N-NW   20                        7                       19                     $1,371,000       $484.00

25S-NW     7                         5                       26                     $1,145,000      $464.00

27RV            9                         6                       8                      $709,000          $354.00

Inaugural Post – Santa Fe Area Monthly Real Estate Sales Statistics

May, 2024 marks the inaugural, monthly blog entry for my Santa Fe Real Estate Market Statistics Update.  At the beginning of each month I will update the sales statistics from the previous month (April in this case) for a selection of Santa Fe MLS areas.  By accessing previous month’s Statistics on the toolbar on the right, comparisons from previous months/possible trends, etc., can be detected.  I will also comment each month on significant changes or emerging trends.

April 2024 Real Estate Statistics for the Santa Fe, New Mexico, Area

1-SF City Limits; 3N-SF City SE North; 4N-SF City Limit SWN; 14-El Dorado; 24-Las Campanas; 25N-NW Quadrant-N; 25S-NW Quadrant-S; 27RV-Rancho Viejo.         ~SEE MAP BELOW STATISTICS~

AREA     ACTIVE         SOLD     AVG. DAYS on MKT.   AVG.  PRICE     AVG. $/SF

1                    79                      14                       60                   $1,190,000         $615.00

3N                42                      17                     100                    $1,032,000        $528.00

4N               20                      13                         9                     $635,000           $444.00

14                  8                        10                       33                    $698,000           $372.00

24                39                         5                     140                   $2,164,000       $602.00

25N-NW   18                         4                       44                  $1,204,000        $480.00

25S-NW    10                         5                     105                   $1,145,000         $410.00

27RV             8                         6                       8                     $674.00              $336.00