Note: Our report excludes some areas of the Taos MLS which we do not consider relevant to the main Taos market: Angel Fire, Eagle Nest, Red River, Raton, Chama, Mora, San Miguel County, and “Other”.
November 2017 was another “up” month, although not by much. Single-family home sales were up by 2 units, despite the low inventory of homes available for purchase. Year-to-date, unit sales are up 15% over last year’s pace, but the gain would be even greater if the inventory were better. Supply is way below demand. Good homes in good locations are selling faster, and prices are rising.
If you have been thinking of selling your home, call us for a free consultation and market analysis!
Condo sales were even with last year. But year-to-date sales are still 11% below last year’s pace. Condos also have been affected by relatively low inventory, as well as by tighter lending standards.
Land unit sales were the same this November as last year. Year-to-date unit sales are 40% ahead of last year. Buyer interest in land is definitely picking up. It seems that some home buyers who can’t find an existing home they like in what is available in inventory are opting to buy land and build.
There were no commercial sales in November this year. The year-to-date total is behind last year by 2 sales.
TOTAL MARKET (all categories of property)
Month of November (2017 vs. 2016)
# of Closed Sales UP from 40 to 41 (+2.5%)
Dollar Sales DOWN from $11.07 million to $9.25 million (-16.4%)
Year to November 30 (11 months)
# of Closed Sales UP from 373 to 430 (+15.3%)
Dollar Sales UP from $92.43 m to $111.65 m (+20.8%)