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: 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.

Total Market: 

  • 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

Residential Condominiums:

  • 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)

  • Units:7
  • 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

 

View Graphs/Charts of 2019 Taos Real Estate Market »