Is Santa Fe South, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Santa Fe South was a Seller's Market.
Housing Prices in Santa Fe South, NM
How much do homes in Santa Fe South, NM cost?
Median Sold Price
$667,416
$341/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Santa Fe South was $667,416 in May 2024, up 5.4% from last year, and the median price per square foot was $341.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $358K | $341.2K | -4.7% |
2 Bedrooms | $503K | $523.7K | +4.1% |
3 Bedrooms | $638.6K | $666.1K | +4.3% |
4 Bedrooms | $755K | $797.5K | +5.6% |
5+ Bedrooms | $852K | $1.1M | +35.0% |
Summary: Santa Fe South housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 35%.
Median Sold Price Compared To Nearby Cities
Lamy | $874.7K | $925K | +5.7% |
Santa Fe South | $633.1K | $667.4K | +5.4% |
Santa Fe | $607.2K | $617.6K | +1.7% |
Santa Fe North | $715K | $665K | -7.0% |
Housing Supply in Santa Fe South, NM
How many homes are available in Santa Fe South, NM?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
276 | 299 | +8.3% |
Summary: The Santa Fe South real estate market had 299 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 7 | 0.0% |
2 Bedrooms | 29 | 28 | -3.4% |
3 Bedrooms | 155 | 169 | +9.0% |
4 Bedrooms | 66 | 76 | +15.2% |
5+ Bedrooms | 19 | 19 | 0.0% |
Summary: The Santa Fe South housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
47 | 49 | +4.3% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 49 homes were sold or pending in Santa Fe South in May 2024, up by 4.3% month-over-month. Of the 49 sold homes, 51% were sold under asking, 33% were sold at asking, and 16% were sold over asking.
Days on Market for Santa Fe South, NM
How long does it take to sell a home in Santa Fe South, NM?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 35 Days | -11.9% |
Summary: Homes in Santa Fe South had an average of 35 days on market in May 2024, down by 11.9% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 49 homes were sold in Santa Fe South; 73% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.