New Mexico
This charming city has quickly become a haven for luxury second-home buyers — and it’s far from both coasts
For deep-pocketed home buyers in search of a second home, they’re increasingly looking to the high desert.
Instead of dealing with the humidity, hurricanes and skyrocketing prices of Florida, Santa Fe, New Mexico is offering a Western alternative that’s quietly gaining ground.
This quarter, the New Mexico capital cracked the top 10 of the Wall Street Journal/Realtor.com luxury housing market index for the first time, landing in the No. 2 spot — just behind St. Louis and ahead of many legacy markets traditionally associated with second-home prestige.
The index, released Thursday, evaluates high-end markets based not just on property values, but also on lifestyle perks, economic vitality and long-term growth potential.
“There’s not much traffic in Santa Fe and prices are still pretty affordable per square foot compared to other luxury markets such as Aspen, Palm Beach and the Hamptons,” Darlene Streit, a broker with Sotheby’s International Realty, told Mansion Global.
“We’re a small town with a big town feeling. We have a lot of world-class restaurants, museums and an arts and cultural scene.”
Indeed, that is true, as Santa Fe — which has been especially popular among film-industry retirees from Los Angeles — is also replete with art galleries and home to the Georgia O’Keeffe Museum. It’s also impossible to ignore its wide selection of restaurants and bars — the latter of which will always serve up strong margaritas, and chips and queso.
At a median luxury listing price of $2.7 million, Santa Fe isn’t exactly a bargain, but it’s proving to be a value compared to more saturated resort markets.
And unlike Palm Beach or Naples, it offers a dry, temperate climate that rarely reaches sweltering heights — and isn’t on a first-name basis with every tropical storm. However, those prone to altitude sensitivity may want to prep in advance, as Santa Fe is at a higher elevation than the city of Denver.
“We have a lot of Texans who tend to spend their summers here because we rarely break 90 degrees, compared to many of the metros in Texas,” Kyle Klain, co-leader at Barker Realty, told the outlet.
“Come the holiday season and the winter, they tend to come to those second homes and use them for their family gatherings for Christmas or an excuse to go skiing.”
The area’s appeal is especially strong among second-home buyers and retirees — particularly those coming from California, Arizona and Texas — many of whom are seeking stability and comfort without sacrificing access to nature and culture.
“We’ve had some people come because of the fires and different natural disasters that have happened in California,” said Streit. “It’s pretty stable in Santa Fe, we haven’t had, thankfully, a big natural disaster in town. Perhaps, it feels a little safer.”
According to Realtor.com, 9.2% of homes in Santa Fe are vacation properties, more than triple the national average.
And even as inventory has grown, prices have remained flat — something Klain says is new for a market that experienced steady appreciation over the past five years.
Anthony Smith, senior economist at Realtor.com, noted that Santa Fe’s strong “amenities” score played a major role in its jump up the rankings, thanks to its blend of cultural offerings and family-friendly appeal.
“Santa Fe really stands apart from other cities within New Mexico and is one of the biggest hidden gems within the Southwest,” he told Mansion Global. It’s also easy to access via its own airport, though that’s smaller than the Albuquerque airport located less than an hour away.
And while Florida was once the default choice for those looking to retire or relax in luxury, rising costs and climate volatility are sending buyers elsewhere.
“It’s perhaps an easier place to retire than some other places,” Streit said. “Florida used to be a great, easy, inexpensive place to retire, but it’s become fairly costly. Santa Fe is still a pretty good price in comparison, and it’s not overrun with people.”
LAS CRUCES, N.M (KFOX14/CBS4) — A gun-tracking program that uses shell casings to connect shootings is already helping investigators link crimes in Doña Ana County, according to new numbers released by the New Mexico Department of Justice.
The effort is part of New Mexico’s Crime Gun Intelligence Center, which uses ballistic evidence such as shell casings to track guns believed to be used in multiple crimes. The program relies on the National Integrated Ballistic Information Network, or NIBIN, a national database that compares ballistic evidence to determine whether shell casings may have come from the same weapon.
In April, New Mexico Attorney General Raúl Torrez described how the technology can connect cases across jurisdictions.
“There may be a shooting that occurs in Deming that’s actually connected to a crime gun that’s recovered in Las Cruces. We may find shell casings in Silver City that are connected to something that happened in T or C,” Torrez said.
Four months into the program, the Department of Justice said 210 bullet casings have been analyzed in Doña Ana County. Those casings helped link 32 incidents to 13 guns.
Jordan Salas reports on New Mexico DOJ data: Shell-casing tracking links shootings in Doña Ana County (Credit: KFOX14)
Statewide, more than 700 casings have been entered into the system, connecting 74 shootings to 31 guns.
One person reacting to the numbers said, “That’s crazy. Honestly, all those shootings all coming from that little amount of weapons is crazy.”
New Mexico officials say the system is designed to help law enforcement share information faster and build cases more efficiently.
Also in April, Doña Ana County Sheriff Kim Stewart pointed to a local case she said the technology helped resolve quickly.
“We resolved a homicide with a suspect arrest in four days. We know that those casings may lead to another 1 or 2 incidents in another city,” Stewart said.
Some residents said the technology alone will not solve gun violence, but they see it as a step forward. One person said, “I mean, growing up, like hearing gunshots in the distance. That wasn’t something crazy. I have stories of, like, friends who’ve gone to parties that had guns go off there. So, yeah, I would say guns are a problem there.”
Another person said, “I would think that it’s a good thing. I’m personally like, just anything to help the gun crimes, you know?”
KFOX14/CBS4 contacted Las Cruces police and the Doña Ana County Sheriff’s Office to ask how the leads are being used in local investigations, but we are awaiting a response.
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- Who: New Mexico Attorney General Raul Torrez brought a lawsuit against Meta Platforms Inc.
- Why: The state claims Meta misrepresented harms to minors and created a public nuisance through its social media platforms.
- Where: The lawsuit is pending in New Mexico state court.
- How to get help: Has social media impacted the mental health of you or your child? You may qualify to join a social media lawsuit against the platform.
New Mexico’s attorney general is asking a state court to order Meta to pay approximately $3.7 billion to address what the state describes as a “public nuisance” caused by the company’s social media platforms.
The request comes after a jury previously found Meta misrepresented the risks its platforms — including Facebook, Instagram and WhatsApp — pose to underage users. The jury also imposed a $375 million penalty in the first phase of the trial.
The case has now moved into a second phase, where the court will determine what additional remedies, if any, Meta must provide.
According to the state, the proposed $3.712 billion abatement plan would fund a 15-year effort to address the alleged harms caused by Meta’s platforms. The plan includes funding for public education, school resources, law enforcement support and mental health services for children affected by issues, such as online bullying and sexual exploitation.
“This request recognizes the scope of the public nuisance that Meta has caused,” counsel for the state argued in court.
The lawsuit alleges Meta concealed or downplayed the extent of harmful activity on its platforms while publicly portraying them as safe for younger users.
Meta disputes liability, challenges proposed abatement plan
Meta denies the allegations and argues there is no legal basis for the sweeping relief requested by the state.
Attorneys for the company contend the proposed abatement plan does not directly address or stop the alleged harmful conduct and instead seeks compensation for downstream effects.
“What no court has ever allowed … is payment for the downstream effects,” Meta’s counsel argued, describing the request as “damages masquerading as something else.”
The court is expected to hear additional testimony during the second phase of the trial before determining whether to approve any form of injunctive relief or financial remedies.
In March, a California jury found Meta and Google liable for mental health harms suffered by plaintiff Kaley G.M., who became addicted to Instagram and YouTube as a child, awarding $6 million in damages, including $3 million in compensatory damages and $3 million in punitive damages.
What do you think about the claims against Meta in this case? Let us know in the comments.
The state is represented by Raul Torrez of the New Mexico Office of the Attorney General and Donald Migliori, Linda Singer, Michael Pendell and David Ackerman of Motley Rice LLC.
The Meta lawsuit is New Mexico v. Meta Platforms Inc., et al., Case No. D-101-CV-2023-02838, in the First Judicial District Court of New Mexico.
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