2016 Market Highlights

BHHS Taos Real Estate ends the year on top!

                         

LOCAL SALES TRENDS

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).

Total Market

Sales volume:  DOWN 6%
Unit Sales:  DOWN 3%
Inventory is DOWN 7%
Pendings DOWN 20%

Residential Housing Market:  Single Family Homes

Average Sales Price is $317,600 with 231 units sold
Compare:  (charts #1 and #2 below)

The price is like 2010, 2013
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:

46% of the listings sold are between $201,000 – $400,000
Increase in sales between $701,000 – $800,000

Bank Owned Properties:
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.

<$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:

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

Average DOM (days on market): 456
Average Sales Price:  $63,176, lowest price since 2002
Units sold:  268% down from the height of the market in 2006

Berkshire Hathaway HomeServices Taos Real Estate Total Volume Rankings: