By Gregg Antonsen, Senior Vice President, Qualifying Broker, Sotheby’s International Realty
I am very pleased to report that MLS data from the 4th quarter of 2012 continues to reflect positive trends that the Santa Fe real estate market has experienced throughout the prior three quarters of 2012—particularly when examining the number of units sold in the single family residential market, which increased 12.57 percent from the fourth quarter of 2011 to the fourth quarter of 2012.
During the 4th quarter of 2012, we saw a slight uptick in the market—a trend we hope to see continue throughout the 1st quarter of 2013. Sales prices in all categories averaged 95.63 percent of the asking price during the final quarter of 2012. For sales of homes over $1M the ratio was 92.30 percent. The total number of single family homes sold increased 15.61 percent for the year when compared to 2011.
The high end of the market in Santa Fe ($700,000 and above) was a bit of a mixed bag, showing a slight improvement in the number of units sold: 235 in 2012 compared to 225 in 2011, while the average price per square foot for sales from $700,000 and above declined slightly to $294 per square foot compared to $311 per square foot in 2011.