Santa Fe housing market: home prices, trends and forecast
According to the Zillow Home Value Index, Santa Fe home prices reached $576,890 for a typical home in Santa Fe, New Mexico in September 2026. That was +0.6% above a year earlier and the highest monthly value on record.
- Typical value of a home
- $576,890September 2026, Zillow ZHVI
- Change over 12 months
- +0.6% since September 2025.
Santa Fe home prices since 2000
Santa Fe appears as the steel line, while the United States appears as the grey line. From May 2002 to now, the typical Santa Fe home rose from $225,308 to $576,890, a ×2.56 change. The US recorded ×2.57 during those same months. Prices peaked during the boom in April 2008 at $367,022, then fell to their low in May 2012 at $273,593, a −25.5% change.
Santa Fe median home price by year
Each yearly figure averages twelve monthly values; the 2026 figure shows the latest month.
| Year | Santa Fe | Change on the year | United States |
|---|---|---|---|
| 2003 | $240,576 | $155,308 | |
| 2004 | $270,359 | +12.4% | $169,891 |
| 2005 | $300,564 | +11.2% | $189,732 |
| 2006 | $331,357 | +10.2% | $206,531 |
| 2007 | $354,320 | +6.9% | $208,449 |
| 2008 | $359,217 | +1.4% | $195,574 |
| 2009 | $330,508 | −8.0% | $177,542 |
| 2010 | $307,328 | −7.0% | $171,462 |
| 2011 | $284,217 | −7.5% | $162,508 |
| 2012 | $275,917 | −2.9% | $161,137 |
| 2013 | $283,002 | +2.6% | $171,420 |
| 2014 | $295,165 | +4.3% | $182,996 |
| 2015 | $302,799 | +2.6% | $192,738 |
| 2016 | $311,243 | +2.8% | $204,509 |
| 2017 | $333,358 | +7.1% | $216,767 |
| 2018 | $349,178 | +4.7% | $230,541 |
| 2019 | $384,694 | +10.2% | $242,088 |
| 2020 | $418,627 | +8.8% | $257,151 |
| 2021 | $485,260 | +15.9% | $295,959 |
| 2022 | $547,856 | +12.9% | $340,014 |
| 2023 | $558,759 | +2.0% | $348,160 |
| 2024 | $575,050 | +2.9% | $359,751 |
| 2025 | $574,822 | 0% | $362,959 |
| September 2026 | $576,890 | +0.6% | $366,157 |
Current value of Santa Fe homes bought in any year
This figure uses an index to estimate a typical home; it is not an appraisal.
Each year's figure averages its twelve monthly index values; the current value is from September 2026. Other choices include a home appreciation calculator.
Are you thinking of selling? Compare local agents through Realtor.com. Advertising disclosure: the site may receive payment for links like this one, but that never affects a number. Disclosure.
Santa Fe housing market forecast
In the Santa Fe, NM metro, Zillow's forecast points to +1.5% across the 12 months that begin in September 2026, and +0.2% over the three months coming up. On a base of $576,890 for Santa Fe's typical value, the forecast suggests about $585,500 one year from now.
Restated here as it stands: Zillow's own central estimate for the metro. No forecast of its own is published by the site. A forecast with a 12-month horizon has usually missed the actual change by several percentage points, whether above or below it. This is not investment advice.
Forecasts for every metro appear together in one table: housing market forecast.
Santa Fe housing market crash risk score
A score of 66 out of 100 is high.
This score ranks Santa Fe against 292 cities based on five conditions that had run high before earlier price falls. Every input receives a score from 0 to 100 based on the other cities. The five scores are then averaged with equal weight. The score shows current conditions; it does not predict a crash.
| Input | Value | Sub-score | Weight |
|---|---|---|---|
| Active listings vs 2019 | +4.0% | 52 | 20% |
| Time on the market vs 2019 | +9.5% | 60 | 20% |
| Price-to-rent ratio | 24.6 | 82 | 20% |
| Price-to-income ratio | 7.0 | 83 | 20% |
| 12-month price change | +0.6% | 55 | 20% |
This is not investment advice. The scoring method for the inputs is explained in the methodology. See all 292 ranked cities: crash risk by city.
Santa Fe inventory and days on market
In September 2026 the Santa Fe, NM metro area counted 808 homes for sale. Compared with a year earlier the count was +0.9%, and against the same month of 2019 it was +4.0%. The median listing sold in 81 days (+9.5% against 2019), and price cuts appeared on 21.4% of listings.
| Santa Fe, NM metro, September 2026 | Value | On a year |
|---|---|---|
| Active listings | 808 | +0.9% |
| New listings | 204 | |
| Median days on market | 81 | +0.6% |
| Median list price | $776,500 | −5.4% |
| Share with a price cut | 21.4% |
Metro inventory from Realtor.com® Economic Research. Realtor.com data. Each metro area: days on market by city.
What living in Santa Fe costs
According to the Zillow Observed Rent Index, Santa Fe's typical asking rent is $1,956 monthly, up +0.6% from a year earlier. A typical home costs the equivalent of 24.6 years of that rent. Households have a median income of $82,121 (Census ACS 2024). A typical home equals 7.0 times one year's income. BEA places the metro's prices at 98.8 against the US average of 100, while housing costs stand at 108.0.
The salary needed to move there, along with rent and prices: cost of living in Santa Fe.
Other housing markets across New Mexico
- Albuquerque $344,199
- Las Cruces $287,447
All of the state: New Mexico housing market.
Understanding the chart
Each point represents the Zillow Home Value Index for Santa Fe. It assigns a typical home in the market's middle third a smoothed, seasonally adjusted value in that month's dollars. The hollow dot identifies the month on the slider, while the terracotta dot shows the latest month. These figures do not account for inflation. The index tracks a typical home, not any specific house. Use the card above or the home appreciation calculator to work out one home's value from its sale price.