(our stats exclude Angel Fire, Black Lake, Chama, Red River, other unless otherwise specified)
- Total Market Sales Volume is UP +33% over this time in 2016 to $53,984,762
- Total Market Unit Sales is UP +25% over this time 2016 to 207 units sold.
- Residential Single Family
- Average Price is UP +7% to $341,486
- Units Sold UP +33% to 117 sales
- Sales Volume UP 35%
- Average Price is UP from the bottom of the market ( 2012) by +28%
- Average price is still down from the height of the market (2008) by -20%
- Bank Owned Properties
- Single digit unit sales for Single Family properties
- Zero unit sales for Condos
- Residential Condos/Townhomes
- Average Price is UP by 1% to $221,595
- Unit Sales DOWN by 35% to only 20 sales.
- Lack of inventory is most likely the reason for these figures.
- Land Sales
- 80% increase in total unit sales compared to the 1st 1/2 of 2016
- <5ac parcels
- 33% increase in unit sales compared to 1st 1/2 of 2016
- 1% increase in average sales price.
- ** Still the lowest average in 11 years!
- <5->10 ac parcels
- Only 5 sales but nice locations: Gallina Canyon and Canon Foothills
- Sales ranging from %8,000 - $157,500!
- >10 ac parcels
- 13 sales averaging $111,292
- Solid listings being sold. Call office for details.
- General Market Trends:
- Start the year off slow, end the year with 2/3 of all activity. Stay tuned.
SYNOPSIS of the Taos Market: Year end 2016 compared to 2015 (12/31/16)
Note: All of our information is based on the Greater Taos Valley including Taos Ski Valley (excluding Angel Fire, Black Lake, Chama and Red River).
- Sales Volume: DOWN 6%
- Unit Sales: DOWN 3%
- Inventory: DOWN 7%
- Pendings: DOWN 20%
Residential Housing Market: Single Family Homes
- Average Sales Price is $317,600 with 231 units sold
- Compare: (charts below)
- The price is like 2013 and 2010
- The price is UP 4% over 2015
- The price is DOWN 29% from the height of the market in 2008
- The price is UP 19% from the low of the market in 2012
- Greatest Activity: (charts below)
- 46% of the listings sold are between $201,000 - $400,000
- Increase in sales between $701,000 - $800,000
- Bank Owned Properties: (chart below)
- 30 units sold with 20% increase over 2015
- Average sold price was $195,035 (88% increase over the average price in 2015 $103,718)
- Absorption Rate: The % of inventory (active listings) to sold listings by price. (chart below)
- <$100,000 has the least amount of inventory with big activity and has only a 2 month housing supply
- >$201,000 - $500,000 has an average of 8 month inventory
- >$501,000 days on the market increase with the absorption rate that is nearly 2 years
- >$801,000: 36 current listings with only 1 sale in 2016
Residential Condominiums: (charts below)
- Activity has remained steady for the past 3 years.
- Average sales price is $212,864
- Units sold : 67
- Greatest activity is between $200,000 - $300,000
- Inventory DOWN
Land <5 acres: Building Sites (charts below)
- Average DOM (days on market): 456
- Average sales price is $63,176
- Lowest price since 2002
- 268% down from the height of the market in 2006
Charts: 1st Half 2017
Charts: 2016 Annual