A. Bradley Nelson
Chief Marketing Officer Sotheby's International Realty
GRAND IN-TOWN ESTATE 811 Los Lovatos Santa Fe, N.M. 87501 $4.9 M This nearly 9,000 square foot family estate consists of an adobe main house, lower level pool house/entertainment area and a separate casita. The estate embodies all the luxurious amenities one would expect, while embracing the comfortable Santa Fe lifestyle.
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y.coRECENTMARKETMOVERSThehighest residential saleof 2021in theSantaFeareawasa2,600-acre propertywithalast askingpriceof US $18million. Awidevarietyof SantaFe neighborhoodscontinuetoappeal to high-endbuyers: thehistoric Eastside?sadobecompoundsand casitas,MonteSerenoandCasasde San Juan?sdramaticviews,LaTierra andTanoRoad?ssolitude,andLas Campanas?clubhouse,golf courses, andequestrian center.Pricesin these areasrangefromjust under US$1 million toUS$23million. Despiteinventoryreachingan all-time low, themarket should remainrobust asthereisstill ademandfor the lifestylethat thisregion hastooffer. TheSantaFeMLSreportsa3.4-month supplyof homespricedat US$1 million or above.Weinviteyouto explorethemall at sothebysrealty.com.
Year-over-year increase in sales volume of homes priced $1M to $2M per the Santa Fe MLS.
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A view from Santa Fe
62%
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Ricky allen & Cathy Griffith {{user.agentNumber}} {{user.company}} 505-470-8233 | 505-500-2729 | ricky@rickyallen.com | cathy@rickyallen.com
2021 proved to be a perfect storm for the high-end housing market as the starts-and-stops of the pandemic's reopening fueled even stronger demand for larger homes and inventory struggled to keep pace. Here in Santa Fe, the luxury market was driven by local buyers utilizing vacation properties more like primary residences, buyers pushing out farther and wider into once-rural exurbs, and buyers seeking access to outdoor amenities. Performance in the residential housing market in Santa Fe throughout 2021 was remarkably strong in all price sectors. Sales of homes in the US $1 million - US $2 million range increased 62% and sales of homes priced at US $2 million and above increased 108% year over year, per the Santa Fe MLS. Buyer demand for existing housing in Santa Fe reached historic levels in 2021. Inventory continued a downward trend in all price sectors, resulting in an overall 47% decline from one year ago and average days on market decreased 33% The Santa Fe MLS reported that sales of luxury homes (US$1M+) totaled US $832,678,951.
RECENT MARKET MOVERS The highest residential sale of 2021 in the Santa Fe area was a 2,600-acre property with a last asking price of US $18 million. A wide variety of Santa Fe neighborhoods continue to appeal to high-end buyers: the historic Eastside's adobe compounds and casitas, Monte Sereno and Casas de San Juan's dramatic views, La Tierra and Tano Road's solitude, and Las Campanas' clubhouse, golf courses, and equestrian center. Prices in these areas range from just under US$1 million to US$23 million. Despite inventory reaching an all-time low, the market should remain robust as there is still a demand for the lifestyle that this region has to offer. The Santa Fe MLS reports a 3-4-month supply of homes priced at US $1 million or above.