6 Month Santa Fe City Residential Activity

Statistical Market Analysis Report
Property Type: Residential Transaction Type: Sale City: Santa Fe Statuses: Active, Pending, Pending Please Show, Right of 1st Refusal, Report run on 11/04/09 at 4:16pm Page 1


Status Listings Low High Average Median Volume DOM
Active 1854 $59,000 $15,000,000 $720,248 $499,000 $1,335,340,638 192

Pending 154 $99,900 $2,495,000 $449,208 $320,000 $69,178,105 182

Sold 678 $78,000 $4,000,000 $461,328 $327,117 $312,780,693 177

Total 2686

Prepared by: Dennis R Bianchi / Santa Fe Realty Partners, Inc.
All information herein has not been verified and is not guaranteed.
Information deemed reliable but not guaranteed.

Where is the Santa Fe Market?

Listing Success Rate

A measure of how well the market is doing is the "Listing Success Rate." The listing success rate measures the number of listings that sell relative to the total number of listings that either sell or expire, or are taken off the market during a given time period. In other words:

Listing success rate = (# of sold listings)/(# of sold listings + # of expired listings + # of listings withdrawn)

Suppose 300 listings sell and 100 listings expire & are withdrawn during a given month:

Listing success rate = (300)/(300 + 100) = 75%.

In a strong seller's market, the listing success rate will be well above 50%. In a strong buyer's market, the listing success rate will be well below 50%.

Let’s have a look. A buyer’s market is defined in economic terms as a market which has more sellers than buyers. Low prices result from this excess of supply over demand.

For the period September 1, 2009 - October 31, 2009, the single-family success rate for the City of Santa Fe was 23%. In Santa Fe County, for this same period the single-family success rate was 41%

For the period March 11, 2009 - Sept. 7, 2009 the single-family success rate in the City of Santa Fe was 40% vs. 71% for the same period in 2005. (This period in Santa Fe was approximately at the peak of the market.) In Santa Fe County for these same two periods, single-family success rates were 36% and 70% respectively.

What About Prices?

To determine whether or not prices are declining, I looked at year over year sales of comparable homes. So, I sampled what I believe to be sales that would be similar for the the period March 12 - Sept. 9. from the years 2009 and 2006. I selected homes that, I believe, have been minimally impacted by renovations and improvements that would distort my findings. Though not a scientific study, I believe that my comparison of 2009 over the same 180 days for 2006 - the Santa Fe peak sales period gives a realistic sense of home price trends. Sales prices were converted to $/Sq. Ft. for these homes to give a fair indication of price trends.

What I have found on average is that prices for detached single-family homes in the City of Santa Fe have depreciated by about 22% ($204/Sq.Ft. 2009 vs. $261/SF 2006) and sales volume down 58% (44 sales 2009 vs. 104 sales 2006).

Buyers, rely on your Realtor to negotiate the best price and conditions for you based upon their expertise and the specifics of the individual transaction.

A native of Wisconsin, Dennis Bianchi, AICP is a graduate of the University of Wisconsin-Milwaukee, holding a Bachelors degree in Sociology, and a Masters of Science in Urban Planning. He and his wife Barbara have been married since 1974 and have two children-Carmen, an English major graduate of the University of Arizona, Tucson, and Nikki, a Communication major graduate of Arizona State, Tempe. The Bianchi's settled in Santa Fe in 1980.Dennis has over 25 years in community planning. This has included being Planning Department Head and Managing Vice-President of a Santa Fe planning and architectural firm for six years. In this capacity, Dennis led the original master planning of Las Campanas and Tierra Contenta master planned communities.Dennis was originally licensed as a real estate broker in 1983. Dennis has been active in residential and commercial real estate sales since 1996. He first earned a "Top Producer" award with Santa Fe Properties, Inc. in 2005. In his initial year with RE/MAX, he earned the President's Club award. Since his start in Santa Fe real estate, Dennis increased his sales productivity and has refined his marketing skills each succeeding year. Dennis is an active member of the Santa Fe Association of Realtors, Santa Fe Multiple Listing Service (MLS) and the Realtors Association of New Mexico.Dennis enjoys spending time with his family, completing a good workout at the gym and working on his book, "Let's Move to Santa Fe," featuring Sonny, his Real Estate Hound Dennis says: "I am committed to making your real estate buying or selling experience the best you have ever had."