Taos Real Estate

My last Taos real estate market hotsheet report was on April 26th, so we're looking at a couple of weeks here.  Here are some highlights:

• Homes - 891 active listings, 353 average days on market, $458,892 average price, and $338,000 median price.
• Land - 1095 active listings, 449 average days on market, $184,498 average price, and $85,000 median price.

Inventory is still high, but average days on market for the 14 homes sold and closed in this period was down a bit at 256 avg. dom.  Only three of 14 residential sales were in and around town, with six in Angel Fire and the others in outlying areas.

What the average days on market for sold properties and the average sold home closing price of $242,147 tell us is that the buyers are here for bargains, and some of those recently came on the market.  Others have finally just dropped their prices to a realistic current market point.

Some would hope that our normally busy summer real estate season will bring buyers and things will get better.  I do have buyers coming in, but they are definitely going to be here to take home a bargain or leave without buying.  If you have had a property listed for a long time, they've seen it many times in their reports I send, and you won't get their attention again without a decent drop in price.  There are more in-depth statistics in the report below.

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