Santa Fe: A heaven for Second Home Owners

There is no other town in the world like Santa Fe. Yes, it’s a small town, but it’s unique vibe and energy makes it a gem for second home owners and realtors in New Mexico, the United States and in the world.

All anyone needs is a weekend in Santa Fe, to not only fall in love with city and its ambiance, but also to see that the world meets in this corner of the country. People from all over the globe arrive for tourism, recreation or business, and decide to stay or purchase a second home to relive the Santa Fe experience whenever they please.

No wonder Santa Fe was named by Christie’s Annual Luxury Housing Analysis as the global winner based on its luxury sales volume, reaching levels not seen since 2006. Homes available are defined as luxury homes by most standards, yet they can also be classified within the ‘affordable high-end prices’. These factors make Santa Fe a paradise for buyers and realtors.

In the voice of the experts

No one better than top realtors in Santa Fe to let us know who is flocking to the area and the state of the residential market. In their 2018 report, Lisa and David Barker from Barker Realty, say in that “unlike the rest of the residential market, decreasing inventory is not driving prices higher. In fact, average and median sales prices as well as the average selling price per square foot all experienced declines this quarter.” Which means second homes are still available at good prices to make it a wise investment. In general, a luxury listing in Santa Fe is defined as a property of $1 million dollars or more.

And who are those buyers looking for second homes? Many are in search of places to call home during their down time, and don’t plan on renting them to vacationers. Others decide it’s not only a good idea to have a place to retreat to, but also wish to allow others the opportunity to relish in the magic of Santa Fe.

The most regular buyers come from Texas and California, according to Sotheby’s International Realty agent Darlene Streit. She also tells Mansion Global that increasingly, buyers from states a bit farther are showing interest in the area: “people coming from Colorado and we’re also seeing a lot more New Yorkers.”

As always, realtors and current owners are the best sources to inquire about what makes Santa Fe an ideal place to invest and live in, even if it’s for a couple of months out of the year. The city has the infrastructure to host anyone, and services such as Home Hotel Luxury Cleaning make things a lot easier for those investing in a home for vacation rentals.