New Mexico

A look at New Mexico's most expensive homes

SANTA FE, NM (KRQE) - It's not exactly California or New York prices, but a well-known real estate website just came out with a list of the 10 most expensive homes on the market in New Mexico.

It's no surprise, most of them are in Santa Fe.

"The former owner was Randy Travis, and Elizabeth Travis is now the current owner, and it's called Travis Ranch," Sotheby's Associate Broker Bob Cardinale said. "We've got about 20,000 square feet of house."

In all that space at 12 Avenida De Rey are five bedrooms; a pueblo-style kitchen; two walk-in closets (one of which is the size of some studio apartments); guest house; 13 stables, six garages, a bowling alley and a shooting range.

"The whole thing is adobe, from the garage to the stables," Cardinale said.

And it could be yours for $9.9 million.

"It's pretty ideal for a ranch right in the city," Cardinale said.

Travis Ranch is the fourth most expensive property on the market statewide, according to a Property Sharks article that says nine of the top 10 priciest homes are nestled in Santa Fe.

That's no surprise for local realtors.

"Because Santa Fe is a small town with a big town culture," Darlene Streit, a Sotheby's real estate broker, said. "Santa Fe has world class opera, one of the largest art markets. It also has the symphony. We have so much culture and sophistication for such a small town. I think that brings a lot of second home buyers; a lot of people retiring here; selling their homes in other markets and being able to retire on some of the proceeds." 

The locations for the priciest homes are spread out, from the hills with sprawling views to locations within walking distance of the plaza.

While many of these homes bring some serious sticker shock in New Mexico, they're a bargain compared to other parts of the country.

"You can get a much bigger house here for the same price you can in L.A. or New York or some of those coastal markets," Streit said.

Albuquerque realtors say Santa Fe has more multi-million dollar homes because of demographics and income levels that drive up the market price.

Right now, the most expensive home on the market in Albuquerque is in the heights near Wyoming and Tramway, listed by Sotheby's for $3.9 million.

For more information about the state's most expensive properties, check out the Property Shark article here: https://bit.ly/2MuJeGM


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