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: Dated June 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: UP 6% from the same time 6/30/2018
    On track to meeting 2018 end of year figures
  • Unit Sales: UP 1% from the same time 6/30/2018
    Looking to have less units sold, but projection is hopeful to meet end of 2018 year figures.

Residential: Single Family

  • Average Sales Price: $363,480. Average price sold is like 2007/2008
  • Units sold: 110 On track compared to activity the 1st half of 2018. If we had more inventory, we could sell more units.
  • Median Price: $332,250
  • Greatest Activity: 77% of the listings sold are between $201,000 - $400,000
  • DOM (Days on Market) averaging 159
  • % of Original Listing Price Sold: 96%. The highest we have on record
  • Bank Owned Properties:
    10units sold being 10% of our market
    Average Price of bank owned property: $141,439. This drives up the actual price of a "non-stressed" property to $385,684
  • Luxury: (top 10% of the active listing market = <$925,000)
    Sales Record: 1 sale in 2017. 6 sales in 2018. 1 sale YTD
  • Absorption Rate: (the % of active listings to sold listings by price)
    $0 - <$400,000 = The most active price ranges still averaging an 8.5 month supply
    >$401,000 - ,$699,000 = Good activity (for Taos market) but a 16.5 month 
    >$700,000++ = up to 3 years

Residential: Condos

  • Average sales price: $279,319
  • Units sold: 32. for the 1st half of the 2019 year (steady activity for the past 5 years)
    High sale: $810,000
    Median: $305,000

Land <5 Acres Building Sites:

  • DOM (days on market): 365
  • Average Sales Price: $76,610
  • Units sold: 45. Good activity in building sites for the last 2 years. Buyers are finding "slim pickins" in the already built inventory and are turning to building to their needs.

Total Land Size Sale Trends:

  • Units: same as 2018 which was + 5% over 2017
  • Units: +67% since 2014

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

  • Units: 6
  • Average Sales Price: $461,583
  • DOM: 473
  • Sales include: 1 Commercial Condo, 2 Land/building combo, 3 Land/Building/Business averaging $744,500, no Business Only units sold YTD

 

 

back to top

GRAPHS

Charts:  1st Half of 2019

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

Taos Real Estate Market Report chart

View Volume Ranking / Firm Ranking statistical report » 

 

back to top