Greetings and Happy New Year! We enjoyed a snowy white Christmas in Santa Fe and welcomed the New Year with good skiing and sunny skies. It is encouraging to step into 2012 with more positive national economic news than we have had the past few years, particularly the increases in the number of pending homes over the past few months as well as residential price stabilization across many markets.

We have also been pleased with the resiliency of Santa Fe’s real estate market as seen in the following bits of data:

• The number of residential sales essentially equaled that of 201
• The average sales price rose slightly (the median price was down slightly
• The number of currently listed properties has dropped
• The number of high end sales $1,000,000 + improved over the numbers sold in 2009 and 2010
• The number of homes sold in Las Campanas essentially doubled from 27 homes in 2010 to 50 in 2011
• The number of homes sold in the Historic Eastside is rose back to 2008 levels
• The absorption rates in all price ranges, while still elevated, have continued to nudge downward, indicating that the time to absorb current inventory has improved.

According to a report by Business Insider, a blog publication for Hanely Wood, Santa Fe is expected to be one of the country’s 15 best housing market’s over the next five years. Being a tried and true Santa Fean, I  know the long term benefits and allure to living in Santa Fe so I am not surprised our market should do well.  Here is a link to the article — I think you will find it intriguing.

For centuries, Santa Fe has been an important desitination and crossroads in the history of the southwest.  Our history spans from the indigenous Pueblo Indians, the Spainards, to the migration of merchants, treasure seekers, and homesteaders from back east.  Throughout this period, as Santa Fe has grown, its changes have been reflected in its housing and architecture which are truly unique in the United States.   As an example of how lucky we are, I wanted to share with you a blog post on historic homes that our Sotheby’s team put together for us. Just click on this link to read:  http://santafesir.com/featured-properties/10-historic-homes-in-one-of-the-nations-oldest-cities.   Enjoy!

Santa Fe, New Mexico -  A Retirement Haven  -  As Reported in Smart Money Magazine

In a recent Smart Money article by Cathy Hill, Santa Fe, New Mexico was chosen as an underrated retirement jewel that is “relatively affordable, delightful, and full or opportunities to work and play.”   Of course, those of us that live here already know the secret and are delighted the word is getting out!    As for relatively affordable, Santa Fe real estate is full of  amazing values with prices down to levels not seen since the late 1990′s in many cases.  From vacation condominiums to historic Santa Fe style estates, this is a great time to buy!

To read the Smart Money article click here

November 8th, 2011

After a somewhat sluggish pace of sale this summer, residential sales in Santa Fe have outpaced last year’s sales in both October and September by 13% in September and 27% in October. It appears that buyers held back through out the gloomy economic news and budget deficit talks earlier in the season,yet, sentiment seem to shift after labor day with most Santa Fe agents reporting brisker showing and sales activity. If the pace continues, Santa Fe sales for 2011 should match those of 2010 and perhaps surpass that by a smudge. Price is still key and today’s buyers demand value. The properties that sell are those that are priced extremely attractively relative to their competition.

What’s happening with land sales in Santa Fe? Unfortunately, not enough. Inventory levels remain very high and while their was a small uptick in land sales as well the past few months, we are avergaing less than 20 sales/month. Prices in some areas are quite attractive, especially in Las Campanas where good lots are available under $100,000! Unheard of value!

Another week blown out of the water, and a pretty good week after all is said and done. As a company, Sotheby’s put  23 properties under contracts in a variety of price ranges (60 in the entire MLS system), 17 solds with six of those in-house (30 for the entire MLS system), and 21 new listings (77 in the entire MLS system). A  good number of prices changes are still coming in, and there were approximately 400 Sotheby’s showings for the week.  It looks like fall is going to be a strong selling season!

If faith is defined as “something believed with strong conviction” and hope is “to value a wish with expectation of fulfillment,” then I suspect most of you will join me in seeking a big helping of both in the New Year. Combined with hard work, a bit of luck  and the view that embracing pessimism is simply not an alternative, then I think the stage is set for 2011 to be a better year than the one to which we have just said a fond farewell.

You’ll note that we have a new look to our monthly newsletter. On November 30, 2010 Sotheby’s International Realty (SIR) acquired Santa Fe Realty Partners (SFRP), bringing together the established local presence, global reach and brand recognition of SIR and the well known performance and perspective in Santa Fe of SFRP. Under the Sotheby’s International Realty banner, our combined team of brokers share considerable optimism about the future of the real estate market in 2011.

CLICK HERE TO READ MORE

Its been a hot summer in Santa Fe and our dog Ellie knows how to handle the heat!   Click here to see how a heeler cools her heels!    http://www.youtube.com/watch?v=8ulC2PCb6wc.   Have a great weekend!

Santa Fe Real Estate Market Update

August 4th, 2010

Bloomberg reported today that Fiserv and Moody’s Economy.com expect Santa Fe prices to increase 25.8% by 2014!    Click on the link below for more…….

http://tinyurl.com/2do94mw

Since January, we’ve enjoyed a steady increase each month (over 2009) in showings, pending sales, and closings.  All this activity resulted in sales totaling 138 in May.  This figure represents the largest single monthly total since November 2007 (146) which means that the May 2010 total was larger than any of the past 29 months. 

Contrasted to the above, we have shifted gears somewhat in the past few weeks.  Showing activity dropped about 9% in May and has remained relatively slow these first few weeks of June.  Some wonder if this is a harbinger of a reversing market trend, or, simply a reflection that early summer is often slow until the summer really gets rolling with The Santa Fe Opera, Santa Fe Chamber Music, Indian Market, and International Folk Market.  

I am in the camp that believes the market is pausing and that Santa Fe’s traditionally strong selling season between July- October will do just fine this summer.  I know I have already seen a pick up in showing activity and calls the past week!