Author: LisaKaramfuller

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