How to Navigate Santa Fe's Evolving Luxury Market Like a Visionary

by Maya Hiersoux

Last week, while walking through a serene Eastside estate with adobe walls kissed by golden light, a client paused mid-step and asked:

"We’re hearing the luxury market is softening in other places—should we adjust our strategy for Santa Fe?"

It’s a question I love answering because it speaks to what makes Santa Fe so unique in the national conversation about luxury real estate.

First, let’s acknowledge what’s happening nationwide: luxury markets in Los Angeles, Aspen, and Miami are experiencing plateauing prices, longer days on market, and buyer hesitation. The post-pandemic frenzy has softened.

But Santa Fe is charting its own course.

According to recent data, homes priced over $1.5M in Santa Fe saw an estimated 18% year-over-year appreciation in 2024. And yet—we’re not immune to larger cycles. Inventory is slowly increasing. Buyers are more selective. The energy has shifted from urgency to intentionality.

So what does that mean for you?

If you're selling:

The days of passive listing are gone. Today’s buyers want to fall in love before they arrive. That means:

Artful storytelling: Your home must communicate lifestyle, history, and emotional resonance.
Refined pricing: Strategic analysis is key. Overpricing risks stagnation.
Curated presentation: From staging to photography to copy, every detail should whisper exclusivity and elegance.

In short: your home needs to feel like an investment in beauty, culture, and personal legacy.

If you're buying:

This is your moment to act with grace and vision. More inventory means:

Time to evaluate without panic
Potential for strategic negotiation
Access to properties previously off-market or under the radar

Santa Fe is still undervalued compared to resort peers like Jackson Hole or Montecito. You’re not just purchasing a home—you’re choosing a lifestyle of depth, creativity, and heritage.

The Bigger Picture

Luxury real estate is always cyclical. What distinguishes the best clients and advisors is not how we ride the highs, but how we navigate the refinements.

In Santa Fe, the shift from boom to balance is not a threat—it’s an invitation. To get intentional. To lead with story. To move with vision.

And when you do, you’ll find that the right property or buyer isn’t just out there—they’re already being drawn to the life you’re ready to create.