SYNOPSIS of the Taos Market: Dated September 30, 2019
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: Tracking with the same as 9/30/2018 @ $92,650,042
- Unit Sales: UP 4%
Residential: Single Family
- Average Sales Price: $366,369. Up +1% from 9/30/19, but down -7% since 12/31/18
- Units sold: 167. -5% down from 9/30/18
- DOM (Days on Market) averaging 152
- % of Original Listing Price Sold: 98%. The highest we have on record.
- Bank Owned Properties:
Bank owned properties are in our market and always have been. We started to track when the market was down and they encompassed 25% of the selling single family market. They have a small impact today.
Currently 6% of units sold
Average price is $153,581
Average non stressed property is $381,374
- Luxury: (top 10% of the active listing market = <$995,000)
Sales Record: 1 sale in 2017. 6 sales in 2018. 1 sale YTD with 2 under contract
- Average sales price: $278,113
- Units sold: 52 as of 3rd quarter 2019. This is a +30% increase in sales from 9/30/19
Land <5 Acres Building Sites:
- DOM (days on market): 355
- Average Sales Price: $81,394
- Units sold: 81. Will be surpassing units sold in 2018. Buyers are finding "slim pickin's" in the already built inventory and are turning to building to their needs.
Total Land Size Sale Trends:
- BHHS has sold 27% of all parcels in the Taos area YTD 2019
Maybe we will see "spec" homes come on the market
Commercial : (much of commercial is done out of the MLS)
- Average Sales Price: $511,357
- DOM: 473
- Sales include: 1 Commercial Condo, 2 Land/building combo, 3 Land/Building/Business averaging $744,500, no Business Only units sold YTD