Is Santa Fe South, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Santa Fe South was a Seller's Market.
Housing Prices in Santa Fe South, NM
How much do homes in Santa Fe South, NM cost?
Median Sold Price
$666,312
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Santa Fe South was $666,312 in March 2024, up 4.9% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $340K | $345K | +1.5% |
2 Bedrooms | $525K | $500K | -4.8% |
3 Bedrooms | $634.5K | $668.7K | +5.4% |
4 Bedrooms | $752.2K | $811.2K | +7.8% |
5+ Bedrooms | $1.0M | $1.0M | +1.7% |
Summary: Santa Fe South housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
Santa Fe South | $635K | $666.3K | +4.9% |
Santa Fe | $600.3K | $621.6K | +3.5% |
Santa Fe North | $704.5K | $676.5K | -4.0% |
Housing Supply in Santa Fe South, NM
How many homes are available in Santa Fe South, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
222 | 226 | +1.8% |
Summary: The Santa Fe South real estate market had 226 homes for sale in March 2024, a 1.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 25 | 27 | +8.0% |
3 Bedrooms | 132 | 122 | -7.6% |
4 Bedrooms | 46 | 54 | +17.4% |
5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Santa Fe South housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 8%, 3 bedroom homes decreased by 7.6%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
51 | 33 | -35.3% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Santa Fe South in March 2024, down by 35.3% month-over-month. Of the 33 sold homes, 61% were sold under asking, 33% were sold at asking, and 6% were sold over asking.
Days on Market for Santa Fe South, NM
How long does it take to sell a home in Santa Fe South, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
71 Days | 94 Days | +32.2% |
Summary: Homes in Santa Fe South had an average of 94 days on market in Mar 2024, up by 32.2% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Summary: During March 2024, 33 homes were sold in Santa Fe South; 48% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 39% of homes were sold over 90 days.