Market Update: Santa Fe, NM October 2021
Luxury home sales throughout Santa Fe, New Mexico experienced a double-digit increase compared to last year, especially those over $1 million according to Sotheby’s international Realty third-quarter market report.
Throughout the third quarter… home sales rose by 20% overall. Sales for homes priced between $1 million and $2 million rose 74% year-over-year, and sales for homes priced over $2 million rose 235% year-over-year.
The average days on market for single-family homes throughout Santa Fe is 49, a 31% decrease compared to this time last year.
The average selling price is $607, 545, a 19% rise compared to last year.
“Performance in the residential housing market in Santa Fe throughout the third quarter of 2021 was remarkably strong in all price sectors. As a result, according to the Santa Fe MLS, average sales price increased by 19% to $608K from $509K one year ago, while the median sales price increased by 13% to $450K compared to $399K one year ago.” – Darlene Streit, Associate Broker at Sotheby’s international Realty Santa Fe.
In conclusion, though inventory is limited, total units sold throughout Santa Fe increased by 20% year-over-year and sales for luxury homes priced over $1 million rose even more.
This Market Report has been provided by
Darlene Streit Exclusive Partner of
LuxuryRealty.com for Santa Fe, NM