Single-family home sales are still tracking slightly below last year’s pace, while condo, land and commercial sales are ahead. There were 3 homes sold over $1 million last month. And there may be a huge sale in December: the 190-acre Blackstone Ranch is going to be auctioned on Dec. 6, with a minimum bid of $19 million (see the related article posted on our web site).
Single-family home sales are pacing about equal to last year. Condo, land and commercial sales are all ahead of last year.
Sales of single-family homes and condos were up in July 2018 compared to July 2017. Land sales were down slightly. Through the first seven months of this year, sales of homes are about 1% below last; condos are up 25%; land is up 12%.
Monthly single-family home unit sales were down for the second month in a row. June 2018 unit sales were below June of last year by 7 units (23%). The ongoing problem of low inventory of homes available for purchase is limiting sales. Buyer interest continues to increase while the supply of good homes for sale isn’t adequate to satisfy the demand. Homes in preferred locations are selling faster, and prices are rising!
Note: The data herein do not include Angel Fire, Black Lake, Cimarron, Eagle Nest, Red River, Raton, Chama, Miami, Mora, San Miguel, Vallecitos, and “Other” areas that are in the Taos MLS. For the most part, buyers looking for property in Taos are not looking in those areas, and vice versa. Those areas do not…