Is Santa Fe, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$622,027
$359/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Santa Fe was $622,027 in April 2024, up 3.6% from last year, and the median price per square foot was $359.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $300K | $325K | +8.3% |
2 Bedrooms | $475K | $491.7K | +3.5% |
3 Bedrooms | $624.2K | $650.8K | +4.3% |
4 Bedrooms | $805K | $821.6K | +2.1% |
5+ Bedrooms | $1.1M | $1.4M | +24.2% |
Summary: Santa Fe housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 24.2%.
Median Sold Price Compared To Nearby Cities
Santa Fe South | $635.6K | $668.3K | +5.1% |
Santa Fe | $600.4K | $622K | +3.6% |
Santa Fe North | $715K | $720.7K | +0.8% |
Housing Supply in Santa Fe, NM
How many homes are available in Santa Fe, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
609 | 688 | +13.0% |
Summary: The Santa Fe real estate market had 688 homes for sale in April 2024, a 13.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 25 | 25 | 0.0% |
2 Bedrooms | 129 | 145 | +12.4% |
3 Bedrooms | 299 | 348 | +16.4% |
4 Bedrooms | 108 | 124 | +14.8% |
5+ Bedrooms | 48 | 46 | -4.2% |
Summary: The Santa Fe housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 4.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
112 | 158 | +41.1% |
Asking Price vs. Sold Price
77 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 158 homes were sold or pending in Santa Fe in April 2024, up by 41.1% month-over-month. Of the 158 sold homes, 49% were sold under asking, 27% were sold at asking, and 25% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
52 Days | 53 Days | 0.3% |
Summary: Homes in Santa Fe had an average of 53 days on market in Apr 2024, up by 0.3% compared to last year.
Breakdown of Home Sale Times
100 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
36 Homes Were Sold
Over 90 Days
Summary: During April 2024, 158 homes were sold in Santa Fe; 63% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.