Q4 | 2018

Santa Fe

Market Updatepresented by Britt Klein

_______________

12 PAINTBRUSH COURTOffered at $1,425,000

mls 201900276

8 %

Change in Median Selling Price {2018 v 2017}

8 %

Change in Units Sold{2018 v 2017}

3301 Units Sold

$441k Average Selling Price

at a glance

{Q4 | JAN - DEC 2018}

santa fe

231 washington avenue brokerage 505.988.8088

326 grant avenue brokerage 505.988.2533

318 grant avenue brokerage 505.982.6207

a message from

Britt Kleinassociate brokerbritt.klein@sothebyshomes.com505.500.5184www.brittklein.com

The residential real estate market in Santa Fe was remarkably robust throughout 2018. According to the Santa Fe Association of Realtors MLS, sales of residential properties rose 8% this year from 3,049 properties sold in 2017 to 3,301 properties sold in 2018. Median prices also rose 8% from $320K in 2017 to $345K in 2018. The average sales price rose by 4% from $423K in 2017 to $441K in 2018.

Average days on market, another key indicator of market activity, decreased by double digits in all price sectors except for homes priced $2M+, which rose by 6%. Listing inventories in the $500,000 to $750,000 sectors rose by 4% and those listed above $2M rose by 3%. Total active listings declined year over year by 5%.

The average selling price at our firm for properties sold in 2018 was approximately $720,000 vs. $501,000 for our nearest competitor.

As always, my goal in sharing this data with you is to create a better understanding of the trends affecting our unique housing market. I hope you find it to be a valuable resource, and I look forward to working with you to meet your real estate needs now and in the future. If you have any questions about the Santa Fe market, please do not hesitate to reach out to me.

sothebyshomes.com/santafe

Statistics and numbers are obtained from the Santa Fe Association of Realtors Multiple Listing Service and are deemed reliable but are not guaranteed and are subject to change. Data may not reflect all real estate activity in the market area. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity.

Britt’s Featured Listings

12 PAINTBRUSH COURTOffered at $1,425,000

mls 201900276

4,3628 Sq. Ft. /3 BR /5 Baths /3 Car Garage / 2.0 Acres

The ultimate blend of sophistication with traditional Santa Fe architecture and unobstructed Sangre de Cristo mountain views are celebrated with this distinctive 2007-built masterpiece. Well sited on a 2 acre Estates II view lot, this exceptionally designed, single level residence offers a flexible floor plan which provides thoughtful separation of space. Design features include a well appointed Chef ’s Island kitchen with Viking appliances, wine cooler, warming drawer and a generous pantry and a media room or family room directly off the kitchen. Additionally, this one of a kind home offers a private master suite with a fireplace and its own private portal, a luxurious master bath with a steam shower, an optional 4th bedroom or ideal exercise room/office off the master suite with a half bath, a separate office with custom built-in cabinetry and a private guest wing with two guest ensuites. Ideal for entertaining, the vibrantly landscaped back yard offers a deep surround portal, flagstone patio, built-in BBQ, fireplace, a private outdoor spa and a three car garage. Exceptional finishes include noche travertine, limestone and cherry wood flooring, diamond plaster, rich vigas, latillas and wood planked ceilings in addition to radiant heating and central air conditioning throughout.

Britt’s Featured Listings

852 OLD SANTA FE TRAILOffered at $999,000

mls 201803512

2,350 Sq. Ft. /3 BR /2 Baths /2 Car Garage / .46 Acres

Experience the ultimate gated Eastside historic territorial residence with timeless character, sited on a lushly landscaped, near half acre lot in a private park-like setting. This beautifully restored, one of a kind residence offers an appealing blend of prized historic integrity combined with modern updates.

1262 SPANISH HILL (LOT 29)Offered at $375,000

mls 201702452 (land)

Santa Fe Summit / 1.8 Acres

Elevated Santa Fe Summit view lot, with expansive Sangre de Cristo Mountain views. Masterfully sited within the highly coveted Santa Fe Summit, this quality cul de sac lot is ideal for the most discerning buyer looking to build on one of the most exceptional view lots in the Santa Fe Summit and throughout Santa Fe.

16 HACIENDA VAQUERO (LOT 6)Offered at $285,000

mls 201803594 (land)

Las Campanas / 2.21 Acres

Come experience one of the finest elevated view lots in all of Las Campanas. Dramatic, unobstructed Lake, Golf Course and Sangre de Cristo Mountain views are celebrated at this extraordinary homesite. Do not miss this one-of-a-kind 2.2 acre, elevated golf course lot featuring expansive lake, golf course and Sangre de Cristo Mountain views.

47 THUNDERCLOUDOffered at $1,995,000

mls 201900207

6,648 Sq. Ft. /3 BR /4 Baths /3 Car Garage / 1.73 Acres

Grand Las Campanas adobe hacienda, with an attached house, designed around a central courtyard with a fountain, boasts superior-quality construction and outstanding finishes throughout. Nearly every room overlooks the courtyard. Built in 2005, the air-conditioned main home includes a great room with soaring ceilings, providing an abundance of natural light and extensive views of the grounds and the majestic mountains.

1564 CORTE LA CANADALast Offered Price $488,000

mls 201805188 (sold)

Britt’s Q4 Sales Highlights

6 DESERT RAINLast Offered Price $847,000

mls 201801820 (sold)

136 THUNDERCLOUD (LOT 576)Last Offered Price $99,500

mls 201803596 (sold)

2 CALLE GONZALES (LOT 42)Last Offered Price $55,000

mls 201800237 (pending)

3225 CALLE CELESTIALLast Offered Price $795,000

mls 201805395 (sold)

600 CAMINO RANCHEROSLast Offered Price $1,450,000

mls 201803017 (sold)

Total Units SoldMedian Selling Price

Sales & PriceComparison

Q4 | All Santa Fe | Five Years

Q4Average Selling Price

Median Selling Price

TotalUnits Sold

{2018 v 2017}

Change 4% 8% 8%

2018 $441,387 $345,000 3301

2017 $422,994 $320,000 3049

2016 $390,467 $300,000 2747

2015 $376,322 $279,000 2601

2014 $382,706 $283,450 2354

Average Selling Price

Average Selling Price | Median Selling Price | Total Units Sold

200

600

1000

1400

1800

2200

2600

3000

3400

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

2014 2015 2016 2017 2018

Median vs ASP vs units

Units SoldComparison

Q4 | All Santa Fe | Five Years

Q4Up to $250K

$250K - $500K

$500K -$750K

$750K - $1M

$1M -$2M

Above $2M Total

{2018 v 2017}

Change -7% 17% 13% 5% 30% 3% 8%

2018 938 | 28% 1466 | 44% 496 | 15% 191 | 6% 180 | 5% 30 | 1% 3301

2017 1006 | 33% 1255 | 41% 439 | 14% 182 | 6% 138 | 5% 29 | 1% 3049

2016 1000 | 36% 1150 | 42% 338 | 12% 123 | 4% 124 | 5% 12 | 0% 2747

2015 1073 | 41% 981 | 38% 309 | 12% 123 | 5% 104 | 4% 11 | 0% 2601

2014 999 | 42% 829 | 35% 286 | 12% 128 | 5% 97 | 4% 15 | 1% 2354

Up to $250K$250K-$500K$500K0-$750K$750K-$1M$1M-$2MAbove $2M

Total Units Sold By Price Point

Market Snapshot / The Santa Fe Year-End 2018 Market Update

0

300

600

900

1,200

1,500

1,800

2,100

2,400

2,700

3,000

3,300

2014 2015 2016 2017 2018

units sold by price points

{Units | Percent}

Listing Inventory

Active Listings for all of Santa Fe Countyas of December 31, 2018

Q4Up to $250K

$250K - $500K

$500K -$750K

$750K - $1M

$1M -$2M

Above $2M Total

{2018 v 2017}

Change -7% -10% 4% -10% -2% 3% -5%

2018 259 320 183 126 152 72 1112

2017 278 355 176 140 155 70 1174

2016 374 404 214 164 195 72 1423

All Santa Fe

25

50

75

100

125

150

175

200

225

250

275

300

325

350

375

400

425

Up to $250K $250K - $500K $500K - $750K $750K - $1M $1M - $2M $2M and Up

Active Listings - Historic

2016 2017 2018

2016 2017 2018

Market Snapshot / The Santa Fe Year-End 2018 Market Update

Q4 | All Santa Fe | Five Years

Days On Market

Q4Up to $250K

$250K - $500K

$500K -$750K

$750K - $1M

$1M -$2M

Above $2M Total

{2018 v 2017}

Change -24% -36% -33% -26% -27% 6% -30%

2018 83 56 79 116 126 275 76

2017 109 88 118 157 173 259 109

2016 144 128 157 218 184 241 145

2015 168 156 177 214 209 242 169

2014 172 166 194 237 216 253 179

Up to $250K$250K-$500K$500K-$750K$750K-$1M$1M-$2MAbove $2M

AverageDays on Market

0

50

100

150

200

250

300

2014 2015 2016 2017 2018

Days on Market - 5 Years

Britt’s Real Estate News & Insights

Preparing a home now during the winter months should be a strategic process with spring just around the corner this March. Regardless of the real estate market conditions or season, sellers benefit from strategic interior and exterior home staging and improvements which best optimize their marketability, market value, and often affects how quickly a home sells. Future sellers simply want to know what their home is worth, how quickly their home will sell and what it will take to achieve the most successful results. One of my favorite practices with a new listing is to walk the home with the sellers and view the home through a buyer’s eyes. Buyers are not only assessing whether a home fits their needs, but also the quality and condition of the home, and potential red flags associated with the home. For example, I often I hear my buyers express concern when they notice obvious exterior stucco cracks which begs the question what other aspects of the home have been neglected. Buyers will often then begin calculating the cost of new stucco, or whatever the viewed defects may be which caught their eye. It’s always a good practice to critique a listing the way a buyer would and improve the home accordingly before listing a property. Preparing a home now for a spring listing allows time to properly declutter and neutralize their space to maximize its selling potential. It’s important to remember that during the winter months, due to the often freezing temperatures, stucco, painting, landscaping and roofing projects may need to wait until the temperatures rise to be completed. However, winter is an optimal time to focus on the interior of a home. Professional stagers, working in combination with the listing broker is a winning combination. Experienced listing brokers should understand the aesthetic trends of what buyers are looking for in Santa Fe. Professional stagers have the ability to transform a listing by decluttering, painting, and highlighting the home’s best features to most effectively create purpose and a lifestyle for each room. One additional piece of advise to best prepare a home during the winter months for market is to hire a professional home inspector to conduct a Pre-Listing inspection. The advantages to performing a home inspection prior to going under contract are vast and include uncovering the less than obvious details which a home inspector will likely find once under contract during the buyer’s inspection period. A large percentage of home sales that fall apart, do so as a result of issues discovered during the inspection period. Most of these inspection-related issues (roofing, mold, radon, electrical, plumbing, mechanicals, etc.) can usually be addressed before the listing goes on the market, which puts your home in a strong position throughout the selling process. Uncovering the major surprises before listing a home provides a seller with piece of mind and the ability to cost effectively address the issues found with competitive bids vs. being rushed while under contract. Getting ahead of any major inspection-related issues both reduces the risk that the sale may terminate during the inspection period and diminishes the risk of a buyer asking for costly repairs or price reductions and/or credits at the last minute.

What can sellers do during the winter months to best prepare their home for market this spring?

To best answer this question, it’s important to understand that the Santa Fe market is a year round market. Throughout 2018, Sotheby’s International Realty brokers in Santa Fe represented buyers from over 140 cities throughout 35 U.S. states and Washington D.C., as well as international clientele. While January and December are often considered our slowest months, March is historically one of our strongest months for closings, which suggests that many of these March buyers toured listings in January or February. There are many benefits to listing a home in the winter months vs. the spring. Winter listings historically enjoy less competition, with more serious buyers who are on a mission to purchase their Santa Fe home. I have personally experienced some of my strongest listing sales in December - February with snow on the ground and freezing temperatures.

Is spring the best time to sell a home?

326 GRANT AVENUESANTA FE, NM 87501

Britt Kleinbritt.klein@sothebyshomes.com

www.brittklein.comwww.sothebyshomes.com/Santa-Fe-Real-Estate/agents/britt.klein

505.500.5184 (anytime)

© MMXVIII Sotheby’s International Realty, Inc. All Rights Reserved. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity.

britt’s 2018 year-end sales summaryBuyers Represented List Price

3 Juan de Gabaldon Trail $2,200,000 11 Juan de Gabaldon Trail $2,000,000963 Camino Santander $1,995,000 6 Mustang Mesa $1,685,000 3005 Monte Sereno Dr. $1,525,000 9 Cloudview Court $1,480,000 39 Sage Circle $1,195,000 41 W. Golden Eagle $998,000 601 Camino Rancheros $695,000 1101 Galisteo Street $575,000 1300 Vista Morada $449,000 756 Baca Street $392,000 1207 Placita Loma $390,000 132 Lorenzo $350,000 14 Via de Las Yeguas $128,700

2018 Listings Sold List Price3 Campo Rancheros $1,725,0006 Mustang Mesa $1,685,00035 Calle Ventoso West $1,475,000 6 Black Mesa $1,250,000 3 Sunflower Drive $1,249,000147 Gonzales $1,175,0006 Desert Rain $847,000 3225 Calle Celestial $795,00013 Plaza Del Corazon $760,000829 Don Cubero $595,000 1564 Corte La Canada $488,000 2342 Santa Barbara $340,000758 Allendale Street Unit A $325,00028 Calle Mi Gusto $285,000758 Allendale Street Unit B $275,00067 Calle Ventoso West $145,00014 Via de Las Yeguas $128,70010 Paintbrush Circle $105,000136 Thundercloud $99,500

Thank you greatly for your support, friendship, referrals and helping make 2018 such a tremendous success! Real estate is as much about the people and memories associated with each sale, as it is about the home itself. Please know how greatly I appreciate the opportunity to represent our unique properties of Santa Fe and will always cherish each referral sent my way.

Happy New Year!