A Year in Review: The New Mexico Market in 2020

As we look back at 2020 and breathe a sigh of relief that we made it through it all, we are reminded what a truly trying year it was. So many devastating stories, one after another; a seemingly endless supply of hardship and pain, with each subsequent calamity raising the bar on the sadness, madness, and uncertainty. But through it all, hope persisted, and in it, some of the most heroic stories ever to emerge inspired us. Most importantly, we were reminded just how vital the concept of community was to our everyday survival, and how HOME – as shelter, as nurturer, as safe harbor from the storms – was now, more than ever, the most important concept of all. We learned to live, work, teach, and run our entire lives from the living rooms, dens and kitchens of our homes. Sometimes not so gracefully, but we made it all work and somehow managed to keep the energy going and our sanity intact, even through the toughest of times.

In the world of real estate, we had no idea what to expect following the impending Pandemic and shut down of our state. In a development none of us could have anticipated at the outset, in spite of it all it turned out to be a year of record-breaking sales and transactions. But this unforeseen boom brought with it challenges, as closings were hindered by overwhelmed title companies, appraisers, and inspectors who could not quite keep up with the increased demand. We frequently saw multiple offer situations that had every agent burning the midnight oil in an effort to serve their clients and help them negotiate their best deals. Through sheer determination and innovation, we persevered. We continued to work diligently through these challenges, even as new ones emerged. The knowledge and experience we gained during this trying year made the Coldwell Banker Mountain Property team of agents stronger than ever and laser focused, and this allowed us to successfully assist our clients in their pursuit of the properties they were seeking.

In spite of the myriad challenges, Coldwell Banker Mountain Properties saw its BEST year ever. We led the force and finished the year in the Number One spot for volume of sales and volume of listings. Along the way, we accounted for 18.6 percent of the total market share, closing over $130,000,000 in sales. Astounding!

Everywhere we turned there were success stories. We had teams such as the Hoffmann Team performing at staggering levels, closing over $33,000,000 in sales for the year. Talk about burning the midnight oil! So proud of their success!

Stan Harrell, our resident Ranch and High-End Home guy singlehandedly closed over $15,000,000 in sales.

The list goes on and on, with many of our talented and devoted agents having record years! We had five top-producing agents closing over $11,000,000 in sales. And some of our newer agents, starting mid-year, set records and saw their careers take off; a tribute to their unbridled energy, enthusiasm, determination, and detailed personalized customer service.

At Coldwell Banker Mountain Properties, our knowledgeable and experienced agents are the secret to our success, and we applaud and support them, and know that they will continue to perform at amazing levels moving forward.

As we look to 2021, we are encouraged by early trends, and we anticipate that the market will continue to expand as consumers continue to reevaluate their living situations and seek out the road less traveled, a refuge from the insanity of an ever-changing world. And we will be here as always, ready to help them in this beautiful, peaceful place that we know and love and have chosen to call home – Northern New Mexico.

 

Lisa Sutton
Managing Broker
Global Luxury Specialist