Santa Fe Market Update Q4 2021


Gregg Antonsen
Santa Fe Senior Vice President & Qualifying Broker

Drew Lamprich
Santa Fe Vice President & Qualifying Broker

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Sales activity for residential housing throughout the fourth quarter of 2021 remained
historically strong resulting in a record-breaking year for the Santa Fe residential real estate
market as well as another record year for our firm. As a result, according to the Santa Fe
MLS, the average selling price increased 16% to $615K, compared to $531K one year ago.
Total units sold increased 12 % to 3,721 in 2021 compared to 3,310 in 2020. The average sales
price achieved at our firm ended the year at slightly more than $1M, far outperforming the
average sales price of all competitors.

Inventory diminished in all price sectors resulting in an overall 47% decline further
supporting what has been a very strong sellers’ market, with 359 active listings at the end of
2021, compared to 674 active listings at the end of 2020. Average days on market declined
by 33% in all price ranges to 46 days, compared to 69 days one year ago. The largest gains in
closed sales occurred in the $750K to $1M price sector, up 44% from 258 in 2020 to 371 in
2021; $1M to $2M, up 62% or 250 in 2020 to 405 in 2021, and in the price range above $2M
which saw an increase in sales of 108%, from 49 sales in 2020 to 102 sales in 2021.
As we enter 2022, buyer interest in Santa Fe remains undiminished and is showing early
signs of continued growth. The shift in home buyers’ priorities since the pandemic’s onset
has led to increased focus on destination markets such as Santa Fe, as buyers search for
more space, access to nature, and lifestyle opportunities. Our sales associates are ready to
help you navigate this robust market.

2022 brings exciting change for our brokerage as we celebrate Gregg Antonsen’s retirement
as Manager and Qualifying Broker and Drew Lamprich stepping into the role.