- Total Taos real estate market has started off the year as the most active 1st 1/4 since 2007. Units sold and Sales Volume are UP +15% over 2016
- Average price for a single family home is $321,000 remaining constant with 2016.
- Big increase in activity between $101,000 - $300,000
- Steady activity between $401,000 - $500,000, but the absorption rate is nearly a year.
- Bank owned property activity has dropped to 14% of the single family sold market.
- DOM (Days on Market) is at an all-time low at 200 days.
- Condo unit sales are down. NEED INVENTORY between $101,000 - $300,000
- Building sites (<5 acres) units are up, price down averaging $56,800. Inexpensive lots are selling. 86% cash sales.
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 Quarter 2017
Charts: 2016 Annual