Market activity–especially for homes and condos–is intense: multiple offers are common, with buyers often offering above asking price. This sort of market behavior has rarely occurred in Taos, even during the boom years of 2000 – 2007. Spurred by the work-from-home paradigm that the Covid-19 pandemic created, and fueled by interest rates that remain extremely low, robust demand for homes and condos in Taos is expected to continue into the foreseeable future. Even multi-family sales–a very small segment of the market–have picked up some. Land sales are way up vs. last year, as some frustrated home buyers are deciding to build instead of searching in vain for an existing home to buy. Commercial sales are still zero for the year through July.
Note: The data in The Lora Company report do not include Angel Fire, Eagle Nest, Red River and other areas which are in the Taos County Association of Realtors Multiple Listing Service (MLS), but which we don’t consider part of the main Taos market. Intense market activity for Taos continues, especially for homes and condos:…
The Taos real estate market is off to a vigorous start in 2021, with sales of homes, condos and land well above last year’s pace for the year to date. It looks like buyer interest in Taos property will continue to be strong this year!
The year got off to a fast start, with January increases in sales of single-family homes, condos and land. This year looks to be another strong year.
2020 finished strongly, as buying of single-family homes surged. An acute Inventory shortage coupled with a backlog of orders at title companies caused closed sales to be less than they would have been. Nevertheless, unit sales were up 24% over 2019, and they are now just 4% below peak year 2007. Prices are now above peak levels. Condo sales were down from 2019’s pace, due to an even more acute inventory shortage, as well as the much longer than normal time to close sales. Land sales were also down, but they look set to improve in 2021.