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).
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.
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.
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
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: