Taos Real Estate » Property Statistics

Taos Real Estate Stats Update

Jim Kimmons, Broker/Owner — Fri, 02 Jul 2010 16:46:09 +0000

I've posted new inventory and absorption stats here for the Taos real estate MLS as of July 2, 2010. Notice that the months of unsold inventory have increased again. I do include condos for residential absorption rates, which tends to darken the picture a bit.

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Qtr 1 Taos Real Estate Sold Property Statistics

Jim Kimmons, Broker/Owner — Mon, 17 May 2010 14:28:23 +0000

I apologize for being a little late, but below is the MLS report for sales of all types of property in the Taos real estate market for the first quarter of this year.

		No. of Listings	Dollar Volume	Average Price	Median Price	Average DOM
RESIDENTIAL
Other		4	$1,260,500	$315,125	$225,000	384
Conventional		30	$9,107,150	$303,572	$263,750	480
FHA		3	$605,900	$201,967	$190,000	257
Cash		21	$4,820,800	$229,562	$202,500	586
Note & Mortgage		1	$227,500	$227,500	$227,500	220
Real Estate Contract		4	$706,500	$176,625	$150,500	436
Sold By Seller		1	$289,000	$289,000	$289,000	270
Analysis by Area
ANGEL FIRE (04A)		18	$3,869,700	$214,983	$165,625	455
ARROYO SECO (06A)		1	$185,000	$185,000	$185,000	210
BLUEBERRY HILL (07A)		1	$735,000	$735,000	$735,000	179
CANON (09A)		1	$380,000	$380,000	$380,000	97
CARSON (10A)		1	$235,000	$235,000	$235,000	452
COLONIAS LOWER (12A)		1	$320,000	$320,000	$320,000	406
COLONIAS UPPER (12B)		3	$959,500	$319,833	$282,000	149
CORDILLERA (13A)		1	$280,900	$280,900	$280,900	381
CORDOVAS (14A)		1	$215,000	$215,000	$215,000	451
COUNTRY CLUB (43C)		1	$345,000	$345,000	$345,000	1,083
DES MONTES (16A)		2	$1,053,000	$526,500	$526,500	482
EAGLE NEST (18A)		1	$138,000	$138,000	$138,000	689
EL SALTO (21A)		1	$590,000	$590,000	$590,000	274
LLANO MESA (28A)		2	$345,000	$172,500	$172,500	323
QUESTA (34A)		1	$160,000	$160,000	$160,000	227
RANCHITOS-LOWER (35A)		1	$163,000	$163,000	$163,000	77
RED RIVER (37A)		1	$410,000	$410,000	$410,000	693
SUNSHINE (42A)		1	$245,000	$245,000	$245,000	416
TALPA (43A)		1	$235,000	$235,000	$235,000	617
TALPA FOOTHILLS (43B)		1	$325,000	$325,000	$325,000	677
TAOS SKI VALLEY (44A)		5	$577,100	$115,420	$127,500	915
TOWN OF TAOS (45A)		10	$2,290,650	$229,065	$227,625	474
TRES PIEDRAS (46A)		1	$250,000	$250,000	$250,000	225
VALDEZ (49A)		2	$677,500	$338,750	$338,750	387
VALLE ESCONDIDO (50A)		1	$768,000	$768,000	$768,000	72
VISTA LINDA (52A)		1	$265,000	$265,000	$265,000	214
WEIMER (25A)		1	$262,500	$262,500	$262,500	1,254
WEST GORGE BRDG (53B)		2	$737,500	$368,750	$368,750	1,112

	Totals	64	$17,017,350	$265,896	$235,000	488
LOTS/LAND
Conventional		3	$844,000	$281,333	$298,500	987
Cash		26	$2,223,277	$85,511	$34,000	403
Real Estate Contract		5	$339,000	$67,800	$45,000	316
Sold By Seller		1	$49,000	$49,000	$49,000	204
Analysis by Area
ANGEL FIRE (04A)		15	$601,777	$40,118	$32,000	367
ARROYO HONDO (05A)		1	$598,000	$598,000	$598,000	674
BLACK LAKE (06B)		1	$160,000	$160,000	$160,000	538
CERRO (11A)		1	$21,000	$21,000	$21,000	289
CHAMA (11B)		1	$12,000	$12,000	$12,000	200
COLONIAS LOWER (12A)		2	$98,000	$49,000	$49,000	107
DES MONTES (16A)		1	$315,000	$315,000	$315,000	1,264
LLANO MESA (28A)		1	$45,000	$45,000	$45,000	250
RED RIVER (37A)		1	$20,000	$20,000	$20,000	86
TALPA (43A)		2	$85,000	$42,500	$42,500	227
TAOS CANYON (44B)		4	$564,500	$141,125	$112,500	451
TOWN OF TAOS (45A)		3	$865,000	$288,333	$298,500	1,146
VALLE ESCONDIDO (50A)		1	$30,000	$30,000	$30,000	26
MORA COUNTY		1	$40,000	$40,000	$40,000	493

	Totals	35	$3,455,277	$98,722	$45,000	435
COMMERCIAL/INDUSTRIAL
Cash		2	$270,000	$135,000	$135,000	38
Real Estate Contract		1	$215,500	$215,500	$215,500	306
Analysis by Area
ARROYO SECO (06A)		1	$150,000	$150,000	$150,000	46
EAGLE NEST (18A)		1	$120,000	$120,000	$120,000	30
TOWN OF TAOS (45A)		1	$215,500	$215,500	$215,500	306

	Totals	3	$485,500	$161,833	$150,000	127
Non Co-op Sales		53	$9,251,367	$174,554	$135,000	461
Co-op Sales		49	$11,706,760	$238,913	$224,000	457
All Sold Listings		102	$20,958,127	$205,472	$182,500	459

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Taos Real Estate Hotsheet – Sold Report for 7 Days

Jim Kimmons, Broker/Owner — Tue, 13 Apr 2010 13:35:23 +0000

: Image by jimkimmons via Flickr

Actually, there were no closings shown in the MLS since my last report on the 5th. However, I did update the current inventory and absorption rate stats this morning for the Taos real estate market.

Days on market are getting longer, and residential median price shrinking a bit. Land prices holding, but slow to move.

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Taos Real Estate Sold Properties Hotsheet – 4/5/2010

Jim Kimmons, Broker/Owner — Mon, 05 Apr 2010 12:56:17 +0000

Here is the Taos real estate sold properties hotsheet for the period since my last report on March 27th. Not much to comment on here, slow but only nine days of activity.

Sold Market Analysis


Sold Market Analysis

		No. of Listings	Dollar Volume	Average Price	Median Price	Average DOM
RESIDENTIAL
Conventional		1	$235,000	$235,000	$235,000	617
Cash		1	$735,000	$735,000	$735,000	179
Analysis by Area
BLUEBERRY HILL (07A)		1	$735,000	$735,000	$735,000	179
TALPA (43A)		1	$235,000	$235,000	$235,000	617

	Totals	2	$970,000	$485,000	$485,000	398
LOTS/LAND
Cash		5	$406,667	$81,333	$30,000	166
Analysis by Area
ANGEL FIRE (04A)		2	$39,667	$19,834	$19,834	242
CERRO (11A)		1	$21,000	$21,000	$21,000	289
TAOS CANYON (44B)		1	$316,000	$316,000	$316,000	32
VALLE ESCONDIDO (50A)		1	$30,000	$30,000	$30,000	26

	Totals	5	$406,667	$81,333	$30,000	166
Non Co-op Sales		4	$373,667	$93,417	$25,500	131
Co-op Sales		3	$1,003,000	$334,333	$235,000	367
All Sold Listings		7	$1,376,667	$196,667	$33,000	232

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Cost to Keep Home Listed in Taos Real Estate Market

Jim Kimmons, Broker/Owner — Fri, 02 Apr 2010 14:29:04 +0000

What is the cost of listing a home above the current market price, and having it stay on the Taos real estate market longer? I did a study of all of the homes sold in 2009 that had a sold price listed. This isn't to compare our Days on Market with any other real estate areas, as ours do tend to be longer, a lot longer than many markets.

But, how much does listing above true market value contribute to our longer market cycle? This study can't tell us that. But, by taking all of last year's sales and grouping them by their Days on Market (DOM) till sold, I can get a percentage of asking price that the group sold for on average. Below I'll give you the numbers for different groups by their DOM, and how much of the ORIGINAL asking price the home eventually sold for. This doesn't look at the price at the time of sale, as this obviously could include a number of price drops, making the point I think. Let's see who got the greatest percentage of their original asking price by time line. I'll also give the percentage of homes in each DOM bracket of the entire 364 sold.

30 or less DOM - 6% of all sold, at an average 94% of original asking price.
31-60 DOM - 7% of all sold, average 95% of original list price.
61-90 DOM - 9% of all sold, average 90% of original list price.
91-120 DOM - 6% of all sold, average 91% of original list price.
121-180 DOM - 15% of all homes sold, average 89% of original list price.
181-365 DOM - 23% of all sold, average of 82% of original list price.
366-ALL - 28% of all sold, average of 79% of original list price.

Let's draw some conclusions from this data, and keep in mind that numbers are rounded and there are probably input data errors. But, we can probably be safe in assuming that:

Those who sold their homes in under 60 days, received around 95% of the original list price. This could be a factor of them just being some of the best homes in great areas, but more likely it's about pricing right for the current market.
The next 90 days, going out to 6 months, cost these home sellers another 4-5% of their original list prices. It's probably about more negotiation on a price that was a little over market in the first place. But, it's still about 10% less than they asked.
From 6 months to a year, we're down another 7%, and 18% off their original asking price. In the spreadsheet, the average original asking price for this group was $ 341,030 and the average sold price was $279,736 to give you a better feel for how this looked.
Most of the last group fell in a time period of closing 1 to 2.5 years from listing, but some went out almost 4 years. This group received only 79% of original asking price. This is probably a factor of missing the market, and listing just as the home price and mortgage troubles started building momentum.

Note that about 66% of all homes sold last year took a hit of around 11% to 21% of list price, and were on the market from 6 months to 4 years. If you want to list a home, or you're listed now, maybe this could help you in doing another CMA (Comparative Market Analysis) and changing the price if you want to get it sold.

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Taos Real Estate Hotsheet Sold Properties Report 2/19-3/26

Jim Kimmons, Broker/Owner — Sat, 27 Mar 2010 14:55:09 +0000

Here is the Sold Properties Taos real estate hotsheet report from the last one I ran on February 19. The trend continues for those picking up bargains, with mostly homes in the lower price ranges changing hands.

I've also just updated inventory and absorption rate stats.

		No. of Listings	Dollar Volume	Average Price	Median Price	Average DOM
RESIDENTIAL
Other		1	$61,500	$61,500	$61,500	341
Conventional		14	$3,738,250	$267,018	$227,625	453
FHA		2	$325,000	$162,500	$162,500	195
Cash		13	$2,546,300	$195,869	$187,500	633
Real Estate Contract		4	$706,500	$176,625	$150,500	436
Analysis by Area
ANGEL FIRE (04A)		8	$1,488,200	$186,025	$160,000	548
ARROYO SECO (06A)		1	$185,000	$185,000	$185,000	210
CARSON (10A)		1	$235,000	$235,000	$235,000	452
COLONIAS UPPER (12B)		2	$484,500	$242,250	$242,250	170
CORDOVAS (14A)		1	$215,000	$215,000	$215,000	451
EAGLE NEST (18A)		1	$138,000	$138,000	$138,000	689
EL SALTO (21A)		1	$590,000	$590,000	$590,000	274
LLANO MESA (28A)		2	$345,000	$172,500	$172,500	323
RANCHITOS-LOWER (35A)		1	$163,000	$163,000	$163,000	77
RED RIVER (37A)		1	$410,000	$410,000	$410,000	693
TAOS SKI VALLEY (44A)		4	$392,100	$98,025	$121,250	826
TOWN OF TAOS (45A)		8	$1,671,250	$208,906	$224,625	547
TRES PIEDRAS (46A)		1	$90,000	$90,000	$90,000	818
VALDEZ (49A)		1	$202,500	$202,500	$202,500	260
VALLE ESCONDIDO (50A)		1	$768,000	$768,000	$768,000	72

	Totals	34	$7,377,550	$216,987	$196,250	501
LOTS/LAND
Cash		5	$1,104,600	$220,920	$86,600	649
Real Estate Contract		3	$134,000	$44,667	$32,000	265
Analysis by Area
ANGEL FIRE (04A)		4	$220,600	$55,150	$51,000	259
ARROYO HONDO (05A)		1	$598,000	$598,000	$598,000	674
DES MONTES (16A)		1	$315,000	$315,000	$315,000	1,264
TALPA (43A)		1	$60,000	$60,000	$60,000	226
TAOS CANYON (44B)		1	$45,000	$45,000	$45,000	840

	Totals	8	$1,238,600	$154,825	$65,000	505
COMMERCIAL/INDUSTRIAL
Cash		2	$270,000	$135,000	$135,000	38
Real Estate Contract		1	$215,500	$215,500	$215,500	306
Analysis by Area
ARROYO SECO (06A)		1	$150,000	$150,000	$150,000	46
EAGLE NEST (18A)		1	$120,000	$120,000	$120,000	30
TOWN OF TAOS (45A)		1	$215,500	$215,500	$215,500	306

	Totals	3	$485,500	$161,833	$150,000	127
Non Co-op Sales		21	$3,976,700	$189,367	$149,000	440
Co-op Sales		24	$5,124,950	$213,540	$196,250	509
All Sold Listings		45	$9,101,650	$202,259	$185,000	477

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Taos Real Estate Hotsheet Report 2-19-2010

Jim Kimmons, Broker/Owner — Fri, 19 Feb 2010 18:15:41 +0000

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:

Notice the long days on market for both, listed in 2007-2008.
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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Is Taos Real Estate a Different Ski Area Market?

Jim Kimmons, Broker/Owner — Mon, 01 Feb 2010 18:53:42 +0000

Realtor.org just ran a short post about ski and vacation home markets, prices and demand. It's short, so this post is also. Actually, I think I just wanted to bring this to the attention of local sellers and brokers, as I don't think our prices have dropped as stated in the article.

In fact, I guess the question is how different (or not) the Taos real estate market might be? Or, are we losing buyers to other ski areas where prices are more attractive?

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Taos Real Estate Hotsheet Sold Report Jan 27, 2010

Jim Kimmons, Broker/Owner — Wed, 27 Jan 2010 14:18:13 +0000

You'll find the current Sold Market Analysis below for the period since my last report two weeks ago. Only a couple of residential sales, both in Angel Fire, so Taos is getting off to a slow start. That's not uncommon for January, but I would hope to see things begin to pick up in February.

I've also updated inventory and absorption rate stats, so check how it looks today in relation to past updates. Keep in mind that inventory and absorption rates are not a report available from the MLS in the past, so unless someone else is going in and doing these periodically, this is the only place you'll find historical records of these numbers.

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Taos Real Estate Hotsheet Report from Dec 28 through Jan 14, 2010

Jim Kimmons, Broker/Owner — Thu, 14 Jan 2010 13:23:13 +0000

The expected slow activity for the holidays is reflected in this Taos real estate hotsheet report for the period from December 28 through January 14. Enlarge or print the report below using the >>; at the top right.

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