A View from Santa Fe
The luxury real estate market continues to evolve amid shifting political and economic landscapes. With an unprecedented intergenerational wealth transfer of $84 trillion underway, Gen X and Millennial heirs are playing an increasingly influential role in shaping real estate trends. In Santa Fe, younger buyers are gravitating toward the midtown and central areas, drawn by easy access to activities, local amenities, and vibrant dining scenes.
At a global level, more than 135,000 high-net-worth individuals are expected to migrate to new countries in 2025. Identifying where they are moving and why provides valuable insight into emerging luxury markets. In Santa Fe, these buyers continue to be drawn to exclusive communities such as Las Campanas, known for its extensive amenities, as well as Monte Sereno, which offers breathtaking views. Additionally, areas like Tesuque and Hyde Park Road provide a mix of seclusion and scenic beauty, with easy access to both mountain landscapes and urban conveniences.
Santa Fe’s appeal extends beyond its residential offerings. With a world-class opera, a flourishing arts scene, and the newly built Georgia O’Keeffe Museum, the city continues to attract discerning buyers. As demand for high-end properties increases, luxury developments in the downtown area offer modern living spaces within walking distance of the historic Santa Fe Plaza and the renowned Canyon Road art district.
The 2025 Luxury Outlook report offers an in-depth analysis of these trends to help inform investment decisions. Locally, the Santa Fe luxury market remains strong, with home sales above $1.5 million seeing an 18.37% increase in 2024 compared to the previous year. The city’s standing in global rankings for quality of life and desirability continues to rise, influencing both demand and inventory. The best opportunities in Santa Fe’s luxury market today are in residential housing, benefiting from the city’s expanding film industry and ongoing economic growth.
Local Market Pulse
One of the most significant recent transactions in the Santa Fe MLS was the sale of 208 San Francisco Street, a residential income property featuring 27 residential units and two boutique commercial spaces, located just a block and a half from the historic Santa Fe Plaza.
Luxury home inventory above $1.5 million has grown by 5% at the start of 2025 compared to 2024, reflecting the increasing strength of this sector. Our research, combined with insights from Sotheby’s International Realty, offers valuable guidance to those looking to invest in this dynamic market.
If you’re interested in exploring the Santa Fe luxury market, I’d be happy to assist you in finding the perfect opportunity.
