Joel K. Schantz, CRB, Qualifying Broker
Schantz & Company
Taos, New Mexico Real Estate
575.758.1924 ext 217/212

Market Trends

SYNOPSIS  | GRAPHS

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    #1 Best of Taos Real Estate Agency

Covid and low interest rates have made the unit sales soar in 2020. This phenomena is being seen not just in Taos, but throughout the Rockies as well as other rural/2nd home markets and suburbia.

Pennsylvania Association of Realtors did a survey how the pandemic affected sellers and buyers: The shutdown forced sellers to delay putting homes on the market, extending the time buyers spent looking. Homebuyers had to view homes remotely, had restrictions on seeing the home in person, the inability to show their previous home, delays in closings and few homes on the market.

With mortgage rates remaining low, prices increasing, selling can be in your future. Call for information: "What you don’t know, can hurt you!" Chris Stuart, CEO Berkshire Hathaway HomeServices.

SYNOPSIS of the Taos Market: 2020

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: $174,925,096
    -+20% over 2019 ($140,925,096)
    -We are within 13% of the height of the total market in 2006.
  • Unit Sales: 560
    -+9% over 2019 (512)

Residential Housing Market: Single Family Homes - Prices down, Units up

  • Average Sales Price: $402,708
    -+2% over 2019 ($393,854)
    -We are within 2% of the height of the market in 2008. Average sales price was $410,099
  • Units sold: 313
    -+30% increase over 2019 (240 units sold)
    -This is the most units sold in records since 2005.

Residential Condominiums:

  • Average sales price: $294,838 
    -+10% increase over 2019
    -Tops the height of the market of 2008 by 2%
    -+92% increase over the bottom of the market of 2012
  • Units sold: 72 
    -8% with units sold over the past 7 years being nearly consistent.

Land <5 Acres Building Sites:

  • Average Sales Price: $81,281 
  • Units sold: 197 
  • Trend: Down the past 2 years, but healthy activity with a 250% increase from the bottom of the market in 2011 which had only 41 land sales.

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

  • Units: 8 = LBB (1), LB (5), CC (2)

 

View Graphs/Charts of Taos Real Estate Market of 2020 »