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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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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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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Almost every day that there are price changes to listings in the Taos real estate MLS, I release the report via a Tweet here, and the also show up here on this site.  I didn't want those who like to get these alerts to miss a really important link on the reports that's not very large, but valuable.

If the listing broker attached public documents to the listing, there's a link just under the large photo on the left that will let you view or download survey plats, restrictions or other documents for that listing.  It's a small number just next to "Associated Document Count."  Check it out in today's report, as there's more to see about the listing.

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• There hasn't been much change since the last report 20 days ago, but inventories could jump a bit after the holidays, as some properties are pulled off the market every year during this period, and put back into active status in January.
• The Taos real estate hotsheet report for sold properties the last 20 days is below.  The average residential selling price was up a bit, and Angel Fire sold a third of the overall inventory.
• Absorption rates didn't move much, and the months should increase again if we add inventory in January.

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With Angel Fire and Red River accounting for 13 of the 24 closings, we see that those areas also were more than half of the dollar volume.  The days on market of the sold residential properties could indicate price drops that finally got them to move, after around 40 months or so on the market.  It is nice to see 11 conventional financing deals.

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This is the only website in the Taos real estate market with this depth of market statistical analysis, with current inventory numbers and absorption rates.  Don't forget our Hotsheet and Price Change Alert Page as well.

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The hotsheet report for this morning, Nov 19, 2009 is below.  You can enlarge or print it using the >> at the top right of the report.  Comments:

• Both residential and land listing inventories have been slowly shrinking over the last month or so, as you can see in the stats here.
• The average price of listed land and home properties has been increasing at the same time.  This indicates a clearing out of the lower end, most under $250,000 in selling prices, as you can see in the report below.
• Whether it's investors or residents previously frozen out of the Taos real estate market by the prices, there is a steady movement of homes below $300k.
• 5, or one third of this report's home sales were in Taos Ski Valley, so it may just be a pre-season blip for condos, all under $200k.

We'll see how things develop after the first of the year, with a careful watch of how homes over $400k are moving.

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Don't forget that there's only one place on the Web or in Taos where you can see snapshots of active listing inventory for the Taos real estate market, both homes and land.  It's here on my Stats Page.  Because the MLS system doesn't capture this as a report, I have to go in and get it manually.  I'll try to do it more often in the future.

Here's the latest Taos real estate sold property hotsheet:

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