Welcome to our Market Report category, where we provide in-depth analyses and insights into the real estate market in Santa Fe, NM. Whether you’re a buyer, seller, investor, or simply curious about the trends, our comprehensive reports cover everything you need to know. From average home prices and inventory levels to market demand and emerging neighborhoods, we break down the latest data to help you make informed decisions. Stay updated with our monthly reports and gain a competitive edge by understanding the nuances of Santa Fe's unique and dynamic real estate landscape.

Santa Fe County Residential Market Report / Fourth Quarter 2020

What a year we had in real estate for 2020! We’re entering 2021 with record low inventories and our December average sales price was up a whopping 25% over where we started in January of last year. Construction costs have been increasing the past several years nationally by about 5% per year but local contractors will tell you it’s certainly more than that in Santa Fe. With little inventory of resale homes, we’re finally seeing a marked increase in new construction in both housing and apartments. That’s good because we need more options for buyers. Transactions of vacant residential land sales increased 77% between the 1st and 4th Quarters while the average price was up only 5.5% to $154,000.

There will be no diminishment of out of state buyers…

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Santa Fe County Residential Market Report / Third Quarter 2020

2020 has proven to be the year of the unexpected and our real estate market is no exception. Where we feared a crash due to the pandemic, the opposite has proven true: sellers are enjoying competing offers and record-high prices, while buyers are needing to make quick decisions while also being patient. Typically the election would also play a factor by slowing the market down, but this is an atypical year and we do not expect these market conditions to change anytime soon.

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Santa Fe County Residential Market Report / Second Quarter 2020

We certainly have never been through such a challenging and uncertain time as we are experiencing socially, economically, and politically both locally and worldwide. We are sensitive to the pain we are witnessing and remain steadfast in our belief that we will get through the pandemic while our economy goes through its major shifts and begins to slowly recover. New Mexico continues to do a good job containing the fallout. Santa Fe residential real estate is again proving to be strong, reliable, and safe. We continue to find many opportunities in our market for buyers and sellers alike as we carefully navigate through this.

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Santa Fe County Residential Market Report / First Quarter 2020

Our Country and our World were not prepared for the challenges we now face. Circumstances change quickly as this unseen enemy passes through and the personal tragedies and economic hardships will be life-changing. Thus far, Santa Fe and New Mexico appear to have avoided the brunt of this and with safe practices, we can only hope that will continue. Not surprisingly, we are seeing many more of our transactions take place with local Santa Feans. And the pace of our transactions, while evidencing some slowdown, has shown remarkable resilience. We believe the residential real estate market will come through this strongly and serve as the backbone for economic recovery on the other side.

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