The first quarter of 2015 demonstrates the continuing stabilization trend we’ve seen for the past two years in the Santa Fe market for single-family homes.. The charts below show the number of units sold by price range and the average sales price per square foot by price range.
This week and weekend, you can go to two markets in Santa Fe featuring the best of Native art and craft. The 93rd Annual Santa Fe Indian Market and the 1st Annual Indigenous Fine Art Market are both taking place, one on and around the Plaza, the other at the Railyard.
Both markets include several days of events devoted to Native art and culture. Film, fashion, literature, dance and music are all part of the celebrations. Check out the websites above to learn more about the many great events on offer. And of course, they’re not museums, they’re markets. The artists appreciate your purchases to support their continued work.
In Santa Fe, not one but two markets to enjoy!
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Visitors and residents have known it for many years. And Condé Nast Traveler’s readers agree: Santa Fe is the best small city in America. (Click the link for more information.)
WASHINGTON (May 22, 2014) – Existing-home sales increased for the first time this year in April, while inventory meaningfully increased and home price growth moderated, according to the National Association of Realtors®. Monthly sales gains in the West and South offset a modest decline in the Midwest while the Northeast was unchanged.
Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.3 percent to a seasonally adjusted annual rate of 4.65 million in April from 4.59 million in March, but are 6.8 percent below the 4.99 million-unit level in April 2013.
Lawrence Yun, NAR chief economist, expected the improvement. “Some growth was inevitable after sub-par housing activity in the first quarter, but improved inventory is expanding choices and sales should generally trend upward from this point,” he said. “Annual home sales, however, due to a sluggish first quarter, will likely be lower than last year.”
Total housing inventory2 at the end of April jumped 16.8 percent to 2.29 million existing homes available for sale, which represents a 5.9-month supply at the current sales pace, up from 5.1 months in March. Unsold inventory is 6.5 percent higher than a year ago, when there was a 5.2-month supply.
“We’ll continue to see a balancing act between housing inventory and price growth, which remains stronger than normal simply because there have not been enough sellers in many areas. More inventory and increased new-home construction will help to foster healthy market conditions,” Yun added.
The median existing-home price3 for all housing types in April was $201,700, which is 5.2 percent above April 2013; in the first quarter the median price was 8.6 percent above a year earlier. “Current price data suggests a trend of slower growth, which bodes well for preserving favorable affordability conditions in much of the country,” Yun said.
Earlier this month, NAR reported the market share of all-cash purchases has risen despite a downtrend in distressed home sales and investor activity. Distressed homes4 – foreclosures and short sales – accounted for 15 percent of April sales, down from 18 percent in April 2013.
Ten percent of April sales were foreclosures, and 5 percent were short sales. Foreclosures sold for an average discount of 16 percent below market value in April, while short sales were discounted 10 percent.
NAR President Steve Brown, co-owner of Irongate, Inc., Realtors® in Dayton, Ohio, said there was some heating of the market last month. “The typical time on market shrunk in April, with four out of 10 homes selling in less than a month,” he said. “Homes that show well and are properly priced tend to sell the fastest. More housing inventory gives buyers better choices, and takes the pressure off of the buying process, which is a welcome sign, especially for first-time buyers.”
Properties sold faster for the fourth straight month in April, reflecting the prolonged lag in inventory relative to demand. The median time on market for all homes was 48 days in April, down from 55 days in March; it was 43 days on market in April 2013.
Short sales were on the market for a median of 96 days in April, while foreclosures typically sold in 56 days and non-distressed homes took 45 days. Forty-one percent of homes sold in April were on the market for less than a month.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 4.34 percent in April, unchanged from March but up from 3.45 percent in April 2013.
First-time buyers continue to represent fewer than one-third of all buyers at 29 percent in April, down from 30 percent in March; they were 29 percent in April 2013.
All-cash sales comprised 32 percent of transactions in April, compared with 33 percent in March and 32 percent in April 2013. Individual investors, who account for many cash sales, purchased 18 percent of homes in April, up from 17 percent in March; they were 19 percent in April 2013. Seven out of 10 investors paid cash in April.
Single-family home sales inched up 0.5 percent to a seasonally adjusted annual rate of 4.06 million in April from 4.04 million in March, but are 7.7 percent below the 4.40 million pace a year ago. The median existing single-family home price was $201,100 in April, up 4.7 percent from April 2013.
Existing condominium and co-op sales rose 7.3 percent to an annual rate of 590,000 units in April from 550,000 units in March, but are unchanged from April 2013. The median existing condo price was $205,500 in April, which is 8.3 percent higher than a year ago.
Regionally, existing-home sales in the Northeast were unchanged at an annual rate of 600,000 in April, but are 6.3 percent below April 2013. The median price in the Northeast was $244,000, down 0.4 percent from a year ago.
Existing-home sales in the Midwest slipped 1.0 percent in April to a pace of 1.03 million, and are 9.6 percent below a year ago. The median price in the Midwest was $157,200, which is 5.8 percent above April 2013.
In the South, existing-home sales increased 1.0 percent to an annual level of 1.94 million in April, but are 3.5 percent below April 2013. The median price in the South was $173,200, up 3.2 percent from a year ago.
Existing-home sales in the West rose 4.9 percent to a pace of 1.08 million in April, but are 10.0 percent below a year ago. The median price in the West was $291,200, which is 9.7 percent above April 2013.
SANTA FE, N.M. — There’s no doubt this capital city has truly earned its nickname as The City Different. Its skyline is not made of skyscrapers, but rather a collection of flat-topped adobe buildings that has taken more than four centuries to evolve. At its heart, Santa Fe’s narrow, unaligned streets are decorated with colorful strings of chile called ristras and quaint mud-plastered homes. The endless shades of brown and turquoise all pay homage to the blending of Native American and Spanish cultures. There are plenty of private and state-run museums that can provide history lessons, but simply wandering the streets, talking to locals and breathing in Santa Fe’s mountain air — seemingly always tinged with the sweet smell of burning cedar and pinon — can all be done for free.
A national historic landmark, the plaza has served as the commercial, social and political center of Santa Fe since the early 1600s. It plays host to art markets through the year and is home to the Palace of the Governors, the nation’s oldest continuously occupied public building. A webcam offers 24-hour views of the plaza, but there’s nothing like strolling under its portals to get a look at the rows and rows of silver and turquoise jewelry and other wares made by Native Americans. The plaza is also a perfect place for people watching.
Just blocks from the plaza, Canyon Road is home to all things Santa Fe-style. The long, winding road once served as an artery to the mountains for residents who needed to gather firewood. Now, it’s lined with more than 100 fine art galleries and studios that welcome visitors for free. The galleries feature everything from antiques to traditional Hispanic and Native art and international folk art.
Amid all the adobe architecture is an impressive collection of chapels, cathedrals and mission churches that dates back centuries. One of the largest is St. Francis Cathedral. Aside from being one of the city’s most photographed landmarks, Pope Benedict XVI in 2005 declared it the Southwest’s cradle of Catholicism. Nearby is Loretto Chapel, which features a legendary spiral wooden staircase that the sisters of the chapel believe was built by St. Joseph himself. Church services are held every Sunday. Also within walking distance is the oldest church in the nation, San Miguel Mission Church. It’s open during the week and regular services are held on Sundays.
STATE CAPITOL ART COLLECTION
During the legislative session, the Roundhouse — it’s the only round capitol building in the country — is often crowded with people running between committee meetings and hand-shake sessions. But the building’s hallways are also adorned with hundreds of works of art. The Capitol Art Collection was created in 1991 and consists of nearly 600 works exhibited in the building’s public spaces and on the grounds outside. The collection is currently valued at more than $5.6 million. Self-guided tours can be taken Monday through Friday. Free guided tours are also available.
SANGRE DE CRISTOS
The Sangre de Cristo Mountains provide a beautiful backdrop to Santa Fe’s adobe skyline. A short drive out of the city leads to numerous hiking and biking choices. In the fall, the changing aspens attract thousands of people.
Just be prepared for the change in altitude. Santa Fe sits about 7,000 feet (2,133 meters) above sea level and the mountain vistas can top out around 12,000 feet (3,658 meters).
BY SUSAN MONTOYA BRYAN
Associated PressMay 8, 2014
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The first four days in May will be filled with films and related events as The Santa Fe Film Festival returns. This year’s theme is
The Festival offers a program of over 60 films, panels, juried awards, workshops and parties. Film screenings take place at either the Jean Cocteau Cinema or the Center for Contemporary Arts. Ticket information and event details are on the Festival website.
Santa Fe’s own George R. R. Martin, author of A Song of Ice and Fire (Game of Thrones) and owner of the Jean Cocteau, puts it beautifully: For anyone who loves movies, the opening of the annual Santa Fe Film Festival is like Christmas in May. With popcorn. What presents will the SFFF bring us this year? I cannot wait to find out.
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On Thursday April 24th you can combine a good meal with a good deed.
If you are in the Santa Fe area, you can participate in Angels Night Out, the annual restaurant event to support Kitchen Angels.*
When you dine out at one of the 29 participating restaurants onThursday, April 24th, 25% of your bill will be donated to Kitchen Angels.
Not familiar with Kitchen Angels? Their mission is to provide free, home-delivered meals to people facing life-challenging conditions. They are community-based and volunteer-driven.
This is a great way to have fun and support a truly valuable community service group. Bring your friends and make it a party!
In Santa Fe, dining out never felt so good!
* Click here to learn more and see a list of participating restaurants.
What happens when you take an entire college campus and turn it into an art gallery? A Quarter Mile Plus. Santa Fe Community College has been transformed by this ambitious, creative show of student, faculty and staff work.*
Conceived by Printmaking department head Patricia Pierce, the show celebrates 30 years of Santa Fe Community College and showcases the amazing work produced by the Art + Design and Liberal Arts programs. Work on display includes photography, prints, paintings, drawings, fashion design, woodworking, collage, mixed media, book arts and poetry.
The opening will be Thursday, April 10th from 5:00 pm – 7:00 pm and the show runs through July 31st. SFCC is located at 6401 Richards Avenue.
In Santa Fe, the Community College offers an incredible array of classes, programs and events.
*Click here to visit the SFCC website