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Vicki, Other/Just Looking in Santa Fe, NM

compare home values in Santa Fe, New Mexico from 2009 to 2010

Asked by Vicki, Santa Fe, NM Sun May 23, 2010

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Here are the figures for residential single family, condo and townhouse combined. Time period 1/1/09 - 5/23/09 compared to 1/1/10 - 5/23/10. Area: Santa Fe City.
#BR #BA Avg Sq. ft. Avg List Price Avg. Sales Price
3 2 1741 359,495 345,000
3 2.5 2080 463,162 434,722
3 2 1766 329,900 319,200
3 2.5 2094 455,258 428,671
0 votes Thank Flag Link Sun May 23, 2010
Vicki, Santa Fe was lucky in comparision to the remainder of the country. We saw many of our home lowered by up to 20% in 2009. This seems to have stabilized. The last quarter of 2009 saw homes selling on an average of 89% of the list price, and that has begun to rebound this year where we are averaging 93% of the list price. We are also beginning to see some home increase in price.
While home sells were down last year our sales in the $300K and under were stronger in part to the first time home buyer tax credit. We also saw at the end of last year a surge in property sales due to the $6,500 tax credit.
The brokers I have spoken with are seeing a definate upturn in the market here.
Let me know if I can answer any further questions for you.
Victoria Murphy
505-660-5395 mobile
505-982-4466 office
0 votes Thank Flag Link Sun May 23, 2010
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