Dear Friends, Clients, Business Associates and Neighbors,
December 2023 marks the 92nd edition of of Eco Lifestyle and Home Newsletter produced by Kachina Mountain Realty. We offer Real Estate & Lifestyle news in the email newsletter covering Santa Fe, Taos County and beyond.
In this edition, we offer the following:
- Lifestyle: Giving
- Real Estate Market Update
- Santa Fe Real Estate News
- Taos County Real Estate News
- Home Decor Insights
- Sierra Updates!
- Calendar of Event Links for Santa Fe, Taos Ski Valley, Taos County & all around New Mexico
- Entertainment Links for Santa Fe, Taos County & around New Mexico
I have noticed in recent group functions that many people speak their mind, without thought of how it would affect other people. Anger, accusations, misinformation, and incomplete truths can run rampant along with irrational, misguided, uninformed, and the fear based arguments. The crowd picks up on the energy and feeds more negativity. I have been at loss for comments to either set the “record straight”, or retort a quick remark, or match the negative energy with a “honest” comment.
But when I think of being honest and helpful, I have given pause for thought. I have had long mental discussions with myself as how best to respond to group negative comments. How can I be helpful and honest? What can I say to make the situation better? I am reminded of a saying from The Buddha:
- If it is not truthful and not helpful, don’t say it.
- If it is truthful and not helpful, don’t say it.
- If it is not truthful and helpful, don’t say it.
- If it is truthful and helpful, wait for the right time. – Buddha
Consistently speak only what is truthful AND helpful will give gift of kindness now during this holiday season as well as all year long.
Thank you for reading our newsletter & feel free to pass it on to other kindred spirits. ~ Dianne McKenzie & Sierra
Real Estate Market
Santa Fe Housing Market Forecast for 2024
Santa Fe, New Mexico, is a city known for its rich history, vibrant culture, and stunning natural beauty. As people continue to be drawn to this enchanting city, the Santa Fe housing market remains a topic of interest. In this article, we will explore the current trends and forecasts for the Santa Fe housing market, providing valuable insights for both buyers and sellers.
Current Santa Fe Housing Market Update 2023
According to Redfin, the Santa Fe housing market is known for its competitiveness, with homes receiving an average of 2 offers and selling in approximately 46 days. In October 2023, the median sale price of a home in Santa Fe was $550K, marking a .0% increase from the previous year. Let’s explore the nuances that define this market.
In October 2023, Santa Fe experienced a .0% increase in home prices compared to the previous year, with homes selling for a median price of $550K. The average time a property spends on the market is 46 days, slightly longer than the 40 days recorded last year. Despite this, the market remains somewhat competitive, with homes selling at a rate of 1% below the list price and going pending in around 43 days.
Examining migration patterns, we find that 0.36% of homebuyers nationwide searched to move into Santa Fe from outside metros. Los Angeles leads the list of metros contributing to the inbound migration, followed by San Francisco and Dallas. On the outbound side, Minneapolis is the most popular destination for those leaving Santa Fe, followed by Miami and Boise.
Santa Fe Housing Market
The Santa Fe housing market continues to show resilience and growth, with the average home value reaching $571,513, reflecting a 2.4% increase over the past year. Homes in Santa Fe are in high demand, evidenced by a rapid 13-day average time on the market before going pending. According to Zillow, as of October 31, 2023, the housing inventory comprises 592 properties for sale, with 192 new listings contributing to the dynamic real estate landscape.
Santa Fe MSA Housing Market Forecast (2023-2024)
Looking ahead, the Santa Fe Metropolitan Statistical Area (MSA) housing market is projected to experience further growth. According to the forecast data, the MSA is anticipated to see a modest increase of 0.1% by the end of November 2023, followed by stability in January 2024 and a notable rise of 0.8% by October 2024. This forecast suggests a positive trajectory, reinforcing Santa Fe’s position as a desirable real estate market.
Size of the Housing Market: The Santa Fe MSA’s housing market is substantial, fueled by a diverse range of properties and high demand. As one of the cultural and historical hubs of New Mexico, Santa Fe’s real estate market reflects the city’s unique charm and attractiveness to both residents and investors alike.
Are Home Prices Dropping?
As of the latest data available, home prices in Santa Fe are not experiencing a decline. In fact, the average home value has seen a 2.4% increase over the past year, indicating a resilient and appreciating market.
Is It a Buyer’s or Seller’s Housing Market?
The current state of the Santa Fe housing market leans towards being a seller’s market. With homes spending an average of 13 days on the market before going pending and a significant percentage of sales occurring above and below the list price, sellers have an advantage in this dynamic and competitive real estate landscape.
Will the Santa Fe Housing Market Crash?
Based on the available data and the housing market forecast, there is no indication of an imminent market crash in Santa Fe. The forecast for the Santa Fe Metropolitan Statistical Area (MSA) suggests a positive trajectory with modest increases, emphasizing the market’s stability and potential for growth in the coming months.
In my experience since middle summer & late autumn, Sellers are not seeing many multiple offers or above asking price offers. The market has definitely changed from a year ago when everybody was outbidding each other and Buyers would waive any contingencies or concessions. Sellers have had to adjust their expectations and patiently await for buyers to schedule tours. Sellers have had to adjust to buyer concessions including money toward repairs, closing costs or mortgage rate buydowns as well as price adjustment with longer days on the market. It seems that that no strategy is more effective than just adjusting the price when it comes to selling a home and securing a buyer in this market. ~ Dianne
Santa Fe Real Estate News
Aldea Real Estate Stats
2023 Stats: Sold, Pending, Listed
SOLD: 20 Homes, DOM 31 | 4 Lots, DOM 132
PENDING: 2 Homes | 0 Lots
LISTED: 11 Homes, Avg $916,713 | 5 Lots, Avg $600,000 for all 5 lots
Aldea de Santa Fe consists of 345 acres, with 205 acres of perpetual open space with 13 miles of walking trails, basketball & tennis courts, community center, (which offers yoga classes, exercise equipment & gathering space for events), a local cafe, superbly located in the high-value northwest corridor of Santa Fe County, with easy access to Highway 599, all just 10 minutes from downtown Santa Fe.
Aldea Prices are dropping slightly. The 3 homes priced over a million dollars are starting to come down. I predict there will be very few out of the 3 homes priced over one million will close in the high $900,000+/- There are currently 11 homes listed in Aldea, which is a lot for this time of year. Average price of sold home in Aldea to date: $891,673 at an average of $398.64 per sq ft. Use this as a guide when making an offer on an Aldea home. Many of the homes for sale were built in the mid 2000’s and will most likely need updated appliances, stucco & roof work in the near future, so make your offer accordingly.
Las Campanas Real Estate Stats
2023 Stats: Sold, Pending, Listed
SOLD: 56 Homes, DOM 99 | 20 Lots, DOM 197
PENDING: 8 Homes | 2 Lots
LISTED: 21 Homes, Avg $2,619,714 | 27 Lots, Avg $264,830
There are currently 21 homes for sale in Las Campanas
- 0 Homes under $1,000,000
- 21 Homes over $1,000,000
There are currently 27 Lots for sale in Las Campanas
- 1 Lots under $100,000
- 26 Lots over $100,000
Marketing Properties, Not Just Listing Properties
If you are thinking of selling your property, why not list it with a realtor who will market the property, not just list it in the MLS? By actively marketing your property, the property gets the most exposure to other realtors and to the general public through online blogging, email campaigns & the typical MLS exposure.
Call me, Dianne, 505.603.9300, to discuss your property needs, or for a tour of Lots & Homes in Aldea, Las Campanas and the Santa Fe region.
Taos Office: 575.776.7576
Visit the website for Santa Fe information: RealEstatePropertiesSantaFe.com
Visit the Kachina Mountain Realty company main website: KachinaMountainRealty.com
Taos Real Estate News
2023 Stats: Sold, Pending, Listed
*SOLD: 127 Homes, DOM 115 | 95 Lots, DOM 258
*PENDING: 24 Homes | 16 Lots
*LISTED: 66 Homes, Avg $948,026 | 152 Lots, Avg $282,778
* Areas tracked:
Lower North, Upper North, West North, Town of Taos, Taos Ski Valley, South West, South East
See map for areas »
Taos is very different than Santa Fe in many ways. With a population of 5,763 people and many surrounding neighborhoods, Taos is the 39th largest community in New Mexico. The greater Taos area is made up of several unincorporated areas and neighborhoods that separates out as if they were their own destinations or towns. Unincorporated areas around Taos have distinctive names that represent the ancient traditions of naming a place for a stream or topographic feature. Arroyo Hondo, Arroyo Seco and El Prado are all such places. These are not towns and have no political jurisdiction, they are simply places that help folks zero in on a very specific neighborhood. Within Taos itself are many such neighborhoods that may comprise no more than six “blocks.”
Selling real estate in Taos county is challenging for sellers, buyers and realtors, as the typical closing time for a property averages 90+ days, compared to under 30 days in Santa Fe. I have closed properties in Santa Fe under 20 days. There is a shortage of title companies which the realtors can work with in Taos. The back log of properties waiting to close often creates buyers to back out and leave the sellers in the same cycle for closing when the next offer comes in. Many buyers become frustrated as their lenders charge additional hold fees or back out all together. Below are some statistics that highlight the problem.
As of August 26, 2022, Pioneer Title has opened an office in Taos at 204 Paseo del Pueblo Norte, Suite A, Taos NM 87571, telephone: 866-294-4100. It remains to be seen if closing times will shorten in the coming months, but it is progress for realtors as well as sellers and buyers in Taos County.
Recently, I have received inquiries from out of town buyers who are researching homes in the Taos area. These buyer profiles are looking to live in a safe community, with a country atmosphere, small homes, with flexible spaces.
Buyers are wanting to move to the area, but can’t find the properties that offer amenities that don’t include huge HOA fees. They want walking trails, localized eateries, a small grocery store, community activities and a sense of neighborhood. They are either downsizing their home and retiring or wanting a second home. They are wanting to go smaller, but the quality of their lifestyle and home features are upscale.
“Does such a community even exist?” they ask.
In the coming months, I will be featuring such a community.
If you have been thinking about selling your home, now is probably a good time. Inventory is low and the demand for quality homes is up.
Call our Taos Office: 575.776.7576
Home Decor Insights
I love the holidays! I mostly decorate based on the changing seasons, winter, spring, summer & fall. But I love the Christmas season: the xmas trees, the lights, the baking, festive drinks, holiday music…all of it. I love looking online at all my favorite stores and how they display holiday items. I love going to the shopping areas to see the in-store decorations. I love driving around at night to see the houses decorated with lights & xmas displays. Winter means snow and all that is wonderful during this time of year. I watch sappy Christmas movies just to see the decorations and feel the holiday cheer. I love the cooking, preparing, planning and surprises of gifts. I feel nostalgic and full of childhood memories. By mid January, I start to feel sad that the holiday season has come to an end and it is time to put Christmas away until next year.
During this holiday season, I truly wish you, our dear readers, all the very best that this season offers. I wish for you to be filled with love, joy, good health and happiness.
Collected images from Pottery Barn and our Milagro Tree.
Happy Holidays to You
For ideas on decorating with spring in mind, check out Pinterest and explore a whole new way to spend your time online and check out my Pinterest page: KachinaRealty Happy pinning!
CFO, (Chief Fun Officer)
Our 4.8 year old female silver standard poodle
November 1-30, 2023
We have had no snow in Taos, until November 23 and then it snowed all night and most of the next day! Sierra loves the snow and runs around, shoveling her nose into the snow.
I weigh & measure Sierra once a month, so here are her stats as of November 2023: 14″ collar, girth: 24″, height to shoulder: 25″ weight: 34.5lbs.
Sierra’s web page: www.diannemckenzie.com/sierra
More photos will be continually posted on her own web page, so check back monthly, as we chronicle her life with us!
You really need to watch Sierra’s videos as they capture her spirit!
Sierra’s 1st video explains who she is and her new role at Kachina Mountain Realty. In Sierra’s 2nd video she talks about Dianne’s role at Kachina Mountain Realty in the era of COVID-19. In Sierra’s 3rd video, Sierra talks about selling and buying real estate during the COVID-19 pandemic. In Sierra’s 4th video she talks about how staying safe in the era of COVID-19.
As you probably already know, Sierra is the CFO (chief fun officer) at Kachina Mountain Realty. Sierra talks to you today about using your imagination in Sierra’s 5th video. When Sierra turned 2 years old on March 18, 2021, people asked what she sounded like now that she was older. While she does not have a lot to say right now, she is quick and to the point, as she starts her 2nd year as CFO, in Sierra’s 6th video. Currently Sierra is not recording videos at this time.
Calendar of Events
New Mexico has long been a center for arts, culture, classes and gourmet food. With such a strong art market, there are hundreds galleries to explore and experience, along with a wide selection of thriving restaurants. Our Museums feature culture, history and traditions of the region and the world. Santa Fe, Taos County and beyond have something scheduled every day & night of the week, all year long.
If there’s one thing you can count on when spending time in New Mexico, it’s the treasured experiences and wide selection of entertainment: music venues, great sporting events, theatrical and musical entertainment as well as year-round festivals.
From festivals, music concerts and dance performances to theatrical offerings by local and touring groups, the performing artists work hard to keep its locals and visitors entertained by both New Mexico performers and acclaimed stars from around the world.
About Kachina Mountain Realty
I am passionate about real estate development. I consider myself a “Dream Maker”, and strive to help my clients manifest their dreams and lifestyle goals.
I believe that, “…the dreams which accompany all human actions should be nurtured by the places in which people live and work”.
To promote this possibility, I encourages my clients to develop and share their dreams and lifestyle goals as part of the process of selling, buying or investing in property.
I have over thirty years of business experience as an executive producer, web architect, social media marketer, business developer, architecture assistant, real estate marketing developer and real estate consultant.
I am a licensed real estate qualifying broker for Kachina Mountain Realty & an accredited ACRE® real estate consultant. I have worked in the Santa Fe & Taos real estate market for years. I specialize in working with buyers and sellers who are looking for a solid real estate investment.
Contact me, Dianne McKenzie, for your real estate transactions & let me help you manifest your dreams!
I am readily available by cell phone, text, (505.603.9300 & 575.776.7576) & email. I return calls promptly, seven days a week!
Taos Office: 575.776.7576
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