SANTA FE REAL ESTATE MARKET REPORT

By Bobby Lee Trujillo 

The 3rd Quarter of 2018 showed significant gains as average home prices rose by 6.4% from the third quarter of last year. Overall, the number of city and county home sales saw an increase of 1.6% in units quarter-over-quarter, and 7.6% year to date.

The number of closed sales of SINGLE FAMILY HOMES in the city were down 2.8% over the same quarter last year; while median sales prices rose 21.6%. In the county, closed sales were down 18.1% and median sales prices increased 2.3%.

CONDO AND TOWNHOME sales in the city increased 19% while the median sales price increased 5.3%.

INVENTORY LEVELS of homes fell 19.4% from the same time last year to 1,241 units. Sellers were encouraged as Months Supply of Inventory was down 25.5% to 5.0 months.

RESIDENTIAL LAND sales in the city saw an decrease of 6.7%, while median sales prices decreased 12.2%.  Residential Land sales in the county saw a modest increase of 4.3% in units and a significant increase of 32.5% in median sales price.