SYNOPSIS of the Taos Market: Year end 2018 compared to 2017 (12/31/18)
Note: All of our information is based on the Greater Taos Valley including Taos Ski Valley, excluding Angel Fire, Black Lake, Chama, Velarde and Red River.
- Sales volume: UP 6% from the same time 6/30/2018
On track to meeting 2018 end of year figures
- Unit Sales: UP 1% from the same time 6/30/2018
Looking to have less units sold, but projection is hopeful to meet end of 2018 year figures.
Residential: Single Family
- Average Sales Price: $363,480. Average price sold is like 2007/2008
- Units sold: 110 On track compared to activity the 1st half of 2018. If we had more inventory, we could sell more units.
- Median Price: $332,250
- Greatest Activity: (chart #3 below)
77% of the listings sold are between $201,000 - $400,000
- DOM (Days on Market) averaging 159
- % of Original Listing Price Sold: 96%. The highest we have on record
- Bank Owned Properties:
10units sold being 10% of our market
Average Price of bank owned property: $141,439. This drives up the actual price of a "non-stressed" property to $385,684
- Luxury: (top 10% of the active listing market = >$925,000)
Sales Record: 1 sale in 2017. 6 sales in 2018. 1 sale YTD 6/30/2019.
- Absorption Rate: (the % of active listings to sold listings by price)
$0 - <$400,000 = The most active price ranges still averaging an 8.5 month supply
>$401,000 - ,$699,000 = Good activity but a 16.5 month inventory
>$700,000 = up to 3 years
- Average sales price: $279,319
- Units sold: 32. for the 1st half of the 2019 year. (hovering the same for the past 5 years)
High sale: $810,000
Land <5 Acres Building Sites:
- DOM (days on market): 365
- Average Sales Price: $76,610
- Units sold: 45. Good activity in building sites for the last 2 years. Seems to be continuing.
Total Land Size Sale Trends:
- Units: same as 2018 which was + 5% over 2017
- Units: +67% since 2014
Commercial Activity: (much of commercial is done out of the MLS)
- Units: 6
- Average Sales Price: $461,583
- DOM: 473
- Sales include: 1 Commercial Condo, 2 Land/building combo, 3 Land/Building/Business averaging $744,500, no Business Only units sold
Charts: 1st Half of 2019