Taos Real Estate

Taos real estate buyers are frequently from areas far outside the local market. As real estate is a very local commodity, every area of the country, and even within a state, is very different. When it comes to days on market analysis, some buyers could make incorrect conclusions about Taos real estate based on long average periods on the market.

At the time this is being written, land is averaging around a year on the market, while homes in Taos are averaging around nine months before being removed from the market or being sold. This is actually fairly average for the Taos real estate market. Why is this the case? What does it mean to negotiations?

There are valid reasons why average days on market in the Taos real estate MLS are longer than in most areas of the country.

• Highly varied architecture, with very specialized slow moving types.
• Land and homes "off-the-grid."
• Remote areas sell more slowly.
• Vacation home sellers have less motivation and more time to sell.
• Vacation home buyers have less motivation and need to buy.

There are other, more isolated, reasons. However, these are the primary things that keep properties on the market longer here. In negotiations, buyers cannot automatically assume that a home on the market for seven months is ripe for a low offer. The seller, particularly in a vacation home, is using the home for recreation during the year. Or, they may be realizing rental income from the property. They may have priced it for just the right buyer, rather than as a bargain buy.

Land is a more interesting situation. I've written about land negotiations here. In short, there are more surprises in land price negotiations than in the back-and-forth for homes. In either case, do not make assumptions about price just based on time on the market. The Taos real estate market is unique in many ways, and you should consult a broker with experience who can advise you appropriately.

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