Joel K. Schantz, CRB, Qualifying Broker
Taos, New Mexico Real Estate
575.758.1924 or 800.530.8899

Market Trends

SYNOPSIS  | GRAPHS | TRENDS

 

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.

Total Market: 

  • Sales volume: UP 12%
    Up from the market low in 2011 +157%. (the volume is 3-times as much as it was in 2011)
    Down from the market high in 2006 by -44%. (the market has not totally rebounded)
  • Unit Sales: UP 4%
    Up from the market low in 2011 by -103%. (units are twice of what they were in 2011)
    Down from the market high in 2006 by -55%. (the market has not totally rebounded)

Residential: Single Family

  • Average Sales Price: $393,315
  • Units sold: 252 (a slight decrease from 2017 due to low inventory)
  • Median Price: $335,000 (an 8% increase over 2017)
  • Compare: (charts #1 and #2 below)
    The price is UP 14% over 2017
  • Greatest Activity: (chart #3 below)
    46% of the listings sold are between $201,000 - $400,000
    33% drop in DOM (Days on Market) averaging 128
  • Bank Owned Properties:
    17units sold with 29% drop from 2017
    45% of the <$100,000 solds were bank owned
  • Luxury: (top 10% of the active listing market = $1.4M)
    $1.4M = 20 active listings
    > $1M = 26 active listings
    Sales Record: 1 sale in 2017, 6 sales in 2018
  • Absorption Rate: (the % of active listings to sold listings by price)
    >$101,000-$700,000 = the same absorption rate as 2017 averaging 128 days on market
    >$800,00 = at least 3 year rate
    >$1501,000 +++ = up to 7 years

Residential: Condos

  • Average sales price: $247,706 UP 17% over the past 5 years
  • Units sold: 65 (hovering the same for the past 5 years)
    High sale: $1,030,000
    Median: $210,000

Land <5 Acres Building Sites:

  • DOM (days on market): 365
  • Average Sales Price: $82,566 UP 11%
  • Units sold: 86 UP 5%

Total Land Size Sale Trends:

  • Units: + 5% over 2017
  • Units: +67% since 2014

Commercial Activity: (much of commercial is done out of the MLS)

  • Units: 14
  • Average Sales Price: $332,571
  • DOM: 336
  • FYI: no Business Only units sold

 

 

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GRAPHS

Charts:  2018 Annual

 

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