Is Santa Fe, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Santa Fe has remained a Seller's Market.
Housing Prices in Santa Fe, NM
How much do homes in Santa Fe, NM cost?
Median Sold Price
$621,624
$358/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Santa Fe was $621,624 in March 2024, up 3.5% from last year, and the median price per square foot was $358.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $300K | $323.1K | +7.7% |
2 Bedrooms | $475K | $490.9K | +3.4% |
3 Bedrooms | $624.8K | $650.9K | +4.2% |
4 Bedrooms | $810K | $810K | 0.0% |
5+ Bedrooms | $1.1M | $1.5M | +37.3% |
Summary: Santa Fe housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 4.2%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 37.3%.
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, NM
How many homes are available in Santa Fe, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
578 | 591 | +2.2% |
Summary: The Santa Fe real estate market had 591 homes for sale in March 2024, a 2.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 28 | 23 | -17.9% |
2 Bedrooms | 120 | 125 | +4.2% |
3 Bedrooms | 293 | 290 | -1.0% |
4 Bedrooms | 95 | 107 | +12.6% |
5+ Bedrooms | 42 | 46 | +9.5% |
Summary: The Santa Fe housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 17.9%, 2 bedroom homes increased by 4.2%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 9.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
120 | 106 | -11.7% |
Asking Price vs. Sold Price
63 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 106 homes were sold or pending in Santa Fe in March 2024, down by 11.7% month-over-month. Of the 106 sold homes, 59% were sold under asking, 25% were sold at asking, and 16% were sold over asking.
Days on Market for Santa Fe, NM
How long does it take to sell a home in Santa Fe, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
52 Days | 62 Days | +18.4% |
Summary: Homes in Santa Fe had an average of 62 days on market in Mar 2024, up by 18.4% compared to last year.
Breakdown of Home Sale Times
59 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Summary: During March 2024, 106 homes were sold in Santa Fe; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.