Taos Real Estate

My last report was on February 4th, so this is the 15 days since.  Not a very active picture, as you can see in the report below (use the >> top right to enlarge and print).

I looked up the two residential sales with conventional mortgages, and here are a couple of notes that I think are relevant to the Taos real estate market:

1. Notice the long days on market for both, listed in 2007-2008.
2. One dropped $214,000 from initial list price, and the other dropped $74,000 from it's first listed price.

I believe we're experiencing a very soft market, quite a buyers' market at the moment, and these show buyers who are value hunters.  They're watching multiple price drops and moving in when the prices reach levels they perceive as bargains.

I've also updated inventory and absorption rate statistics.

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