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

Market Trends

SYNOPSIS  | GRAPHS

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    #1 Best of Taos Real Estate Agency

SYNOPSIS of the Taos Market: Year end 2019 compared to 2018

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 2% over 2018
    Remains steady over past 5 years
    164% increase since the bottom of market in 2011
    Down from the market high in 2006 by -41%
  • Unit Sales: UP 5.5% over 2018
    Steady growth for 9 years
    124% increase since the bottom of market in 2011(units are over twice of what they were in 2011)
    Down from the market high in 2006 by -46%
     

Residential Housing Market: Single Family Homes

  • Average Sales Price: $393, 854
    Average price hovering at 2018 prices ($393,315) Height of market in 2008= $410,099
  • Units sold: 240 (steady decrease in units for past 3 years, due to low inventory)
  • Median Price: $331,750 (1% decrease from 2018)
  • Greatest Activity:
    50% of the listings sold are between $201,000-$400,000
  • Bank Owned Properties:
    14 units sold with 21% drop from 2018
    7% decrease in average price of foreclosure: averaging $153,500
  • Luxury: (top 10% of the active listing market = $995,000)
    > $1M = 25 active listings
    Sales Record: 1 sale in 2017, 6 sales in 2018, 4 in 2019
  • Absorption Rate: (the % of active listings to sold listings by price)
    >$0-100,000= 15 months
    >$100,001-$400,000 = 240 days on the market (8 months)
    >$400,001-$700,000 = 13 months
    >$800,000 = at least 2 year rate
    >$1,500,000 +++ = average 6.5 years

Residential Condominiums:

  • Average sales price: $267,589 (up 26% over the past 5 years)
  • Units sold: 78 (up 30% since 2017)
    Median: $235,000

Land <5 Acres Building Sites:

  • DOM (days on market): average 330 ranging from 9-715 days
  • Average Sales Price: $87,154 UP 5% from 2018
  • Units sold: 109 UP 26%

Total Land Size Sale Trends:

  • Units: + 25% over 2018 with 152 land sales
  • Units: +127% since 2014

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

  • Units: 12
  • Average Sales Price: $527,041
  • DOM: 386
  • FYI: no Business Only units sold 

View Graphs/Charts of 2019 Taos Real Estate Market »