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Santa Fe County
Residential Market Report
Q1 2015
Residential Sales
Santa Fe County Residential Sales By Quarter
600
512
500
472
453
391
387
400
300
200
100
0
1Q14
2Q14
3Q14
1Q14
387
Sales
2Q14
453
4Q14
1Q15
3Q14
512
4Q14
472
1Q15
391
1Q14
3Q14
4Q14
Sales Dollar
Volume 2Q14
Santa Fe County Residential Dollar Volume By Quarter
Ave. Price
$250,000,000.00
Med. Price
$
$
411,468.00
302,772.00
$
$
421,878.00
299,900.00
$426,715.00 $
$337,250.00 $
$218,478,285.00
$200,000,000.00
Sales
Price
Per SqFt
$
1Q14 1Q14
2Q14
2Q14
$191,110,916.00
387 190.00 $ 453 201.00
450,377.00
320,000.00
Ave. Price
Homes
For Sales $
Med. Price
$
1Q14
1Q14
411,468.00
1203
302,772.00
1Q15
402,696.00
302,000.00
$212,578,213.00
3Q14
3Q14
$ 512 200.00
4Q14
4Q14
$ 472 209.00
$159,238,237.00
$150,000,000.00
$
$
1Q15
1Q15
$ 391 195.00
$157,454,246.00
$
$
2Q14
2Q14
421,878.00
1486
299,900.00
3Q14
3Q14
$426,715.00
$
1417
$337,250.00 $
4Q14
4Q14
450,377.00
1248
320,000.00
$
$
1Q15
1Q15
402,696.00
1005
302,000.00
$100,000,000.00
1Q14
2Q14
3Q14
4Q14
1Q15
1Q14
2Q14
3Q14
4Q14
1Q15
Dollar Volume $159,238,237.00 $191,110,916.00 $218,478,285.00 $212,578,213.00 $157,454,246.00
Price Per SqFt
$
190.00 $
201.00 $
200.00 $
209.00 $
195.00
$50,000,000.00
Original Vs. Selling
Homes For Sales
$0.00
Dollar Volume
Original Vs. Selling
2
1Q14
90%
1Q14
1203
1Q14
2Q14
91%
2Q14
1486
2Q14
3Q14
92%
3Q14
1417
3Q14
4Q14
91%
4Q14
1248
4Q14
1Q15
90%
1Q15
1005
1Q15
1Q14
2Q14
3Q14
4Q14
1Q15
$159,238,237.00 $191,110,916.00 $218,478,285.00 $212,578,213.00 $157,454,246.00
1Q14
90%
2Q14
91%
3Q14
92%
The first quarter of 2015 Sales
for Santa Fe County were flat
compared to the first quarter of
2014. Sixty-four percent (64%)
of sales were below $400,000.00
and twenty-seven percent (27%)
were from $400,000.00 to
$750,000.00. The remaining
nine percent (9%) were above
$750,000.00. Luxury Sales
($1M+) were down nine percent
(9%) compared to the first quarter
of 2014. Santa Fe County ended
the first quarter with 309 homes
under contract.
4Q14
91%
Q1 2015 Santa Fe County Residential Market Report
1Q15
90%
The first quarter of 2015 Dollar
Volume for Santa Fe County
was down two percent (2%).
The Dollar Volume continues
to stabilize, providing optimism
for continued growth in 2015,
especially heading into the
upcoming selling season (2nd &
3rd quarters).
Average and Median Sales Price
Santa Fe County Residential Average & Median Selling Prices By Quarter
$500,000.00
$450,377.00
$450,000.00
$421,878.00
$411,468.00
$426,715.00
$402,696.00
$400,000.00
$337,250.00
$350,000.00
$300,000.00
$320,000.00
$302,000.00
$299,900.00
$302,772.00
$250,000.00
$200,000.00
$150,000.00
$100,000.00
$50,000.00
Sales
$-
Ave. Price
Med. Price
1Q14
387
2Q14
453
1Q14
$
$
3Q14
512
2Q14
1Q14
411,468.00
302,772.00
$
$
4Q14
472
3Q14
2Q14
421,878.00
299,900.00
1Q15
391
4Q14
3Q14
$426,715.00 $
$337,250.00 $
4Q14
450,377.00
320,000.00
1Q15
$
$
1Q15
402,696.00
302,000.00
$
1Q15
195.00
Average Selling
Price
per Sq.
Santa Fe County
Residential
SellingFt.
Price Per SqFt By Quarter
$215.00
Price Per SqFt
$
1Q14
190.00 $
2Q14
201.00
3Q14
200.00
$
$210.00
1Q14
1203
2Q14
1486
$201.00
Dollar Volume
$185.00
Price Per SqFt
Homes For Sales
Dollar Volume
4Q14
1248
1Q15
1005
$200.00
$195.00
Original Vs. Selling
$190.00
Sales
$190.00
$180.00
3Q14
1417
1Q14
2Q14
3Q14
4Q14
1Q15
$159,238,237.00 $191,110,916.00 $218,478,285.00 $212,578,213.00 $157,454,246.00
$195.00
Ave. Price
Med. Price
4Q14
209.00
$209.00
Homes
$205.00 For Sales
$200.00
$
$
$
1Q14
1Q14
90%
387
1Q14
411,468.00
302,772.00
1Q14
$
2Q14
2Q14
91%
453
$
$
2Q14
421,878.00
299,900.00
2Q14
1Q14
190.00 $
1Q14
1203
3Q14
3Q14
92%
512
4Q14
4Q14
91%
472
3Q14
$426,715.00 $
$337,250.00 $
3Q14
2Q14
201.00
2Q14
1486
$
4Q14
450,377.00
320,000.00
1Q15
1Q15
90%
391
$
$
4Q14
4Q14
209.00
1Q15
402,696.00
302,000.00
The average sales price in the
first quarter of 2015 decreased
two percent (2%) to $402,69.00
compared to the first quarter of
2014 which was $411,468.00.
The median sales price in the first
quarter of 2015 remained flat at
$302,000.00 compared to the
first quarter of 2014. Although
both decreased slightly, it’s directly
correlated to the majority of sales
remaining under $500,000.00.
Both the average and median
sales prices have stabilized and
are poised to increase especially
with very limited inventory.
The average selling price per
Sq. Ft. in the first quarter of
2015 increased two and one half
percent (2.5%) to $195.00 a
Sq. Ft. compared to $190.00
a Sq. Ft. in the first quarter of
2014. Over the last five quarters,
the average selling price per Sq. Ft.
has been $199.00 and continues
to slowly increase. Price per
Sq. Ft. varies throughout the city
and county and it’s important
to look at specific markets to be
accurate.
1Q15
3Q14
200.00
$
3Q14
1417
Q1 1248
2015 Santa Fe1005
County Residential Market Report
4Q14
$
1Q15
195.00
1Q15
1Q14
2Q14
3Q14
4Q14
1Q15
$159,238,237.00 $191,110,916.00 $218,478,285.00 $212,578,213.00 $157,454,246.00
3
Original
Asking Price vs. Selling Price
Santa Fe County Residential Original Price Vs. Selling Price By Quarter
93%
92%
1Q14
387
Sales
$
$
1Q14
411,468.00 $
302,772.0091%$
2Q14
421,878.00
299,900.00
$
1Q14
190.00 $
2Q14
201.00
92%
Ave. Price
Med. Price
91%
91%
Price Per SqFt
2Q14
453
92%
3Q14
512
4Q14
472
3Q14
4Q14
$426,715.00 $ 450,377.00
$337,250.00 $91%320,000.00
$
3Q14
200.00
4Q14
209.00
$
1Q15
391
$
$
1Q15
402,696.00
302,000.00
$
1Q15
195.00
90%
90%
90%
1Q14
1203
Homes For Sales
90%
89%
1Q14
Dollar Volume
2Q14
1486
3Q14
1417
4Q14
1248
1Q15
1005
1Q14
2Q14
3Q14
4Q14
1Q15
2Q14
3Q14
4Q14
1Q15
$159,238,237.00 $191,110,916.00 $218,478,285.00 $212,578,213.00 $157,454,246.00
1Q14
90%
Original Vs. Selling
2Q14
91%
3Q14
92%
4Q14
91%
The original Asking Price vs.
Selling Price in the first quarter
of 2015 remained flat at ninety
percent (90%) compared to the
first quarter of 2014. Over the
last five quarters it’s remained
around ninety one percent (91)%;
meaning sellers are reducing prices
9% before their homes close.
When we compare the list price to
sales price, it reflects an average of
ninety five percent (95%) - which
is often times negotiated when a
contract is received.
1Q15
90%
Housing Inventory
Santa Fe County Residential Homes For Sale By Quarter
1600
1486
1417
1400
1248
1203
1200
1005
1000
800
1Q14
387
Sales
2Q14
453
3Q14
512
4Q14
472
1Q15
391
600
Ave. Price
400
Med. Price
$
$
1Q14
411,468.00
302,772.00
$
$
2Q14
421,878.00
299,900.00
1Q14
190.00 $
2Q14
201.00
3Q14
$426,715.00 $
$337,250.00 $
4Q14
450,377.00
320,000.00
$
$
1Q15
402,696.00
302,000.00
4Q14
209.00
$
1Q15
195.00
200
0 Per SqFt
Price
1Q14
Homes For Sales
Dollar Volume
4
$
2Q14
1Q14
1203
2Q14
1486
$
3Q14
3Q14
200.00
3Q14
1417
$
4Q14
4Q14
1248
1Q15
1005
1Q14
2Q14
3Q14
4Q14
1Q15
$159,238,237.00 $191,110,916.00 $218,478,285.00 $212,578,213.00 $157,454,246.00
Q1 2015 Santa
Fe County2Q14
Residential Market
Report4Q14
1Q14
3Q14
Original Vs. Selling
1Q15
90%
91%
92%
91%
1Q15
90%
Homes for sale in the first quarter
of 2015 decreased sixteen percent
(16%) compared to homes for sale
in the first quarter of 2014. There
are currently six and one half
months of inventory of homes for
sale. The National Association Of
Realtors defines a healthy market
as six to eight months. Despite
our tepid economic environment,
our inventory is being absorbed
- leading toward optimism that
prices could increase slightly. If the
demand remains high, we believe
2015 could be the best post recession
year for Santa Fe Real Estate.
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Q1 2015 Santa Fe County Residential Market Report
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