2017 vs 2016 YTD :: 3-month Snapshot
As we come out of the sleepy winter market season, this 3-month Local Real Estate Market Stats snapshot report shows continued stability in activity and sales in most local markets, with level to moderate increases, or even significant increases in some areas. This is probably due to several circumstances; the end of a contentious election cycle and moving into a “stable” political climate for the next 3-4 years; home prices beginning to show appreciation again as we climb out of past recessive market conditions; and mortgage interest rates beginning to climb inciting buyers to take action now while rates, though rising, are still very attractive. As we enter the primary sales season for our local markets of mid spring through mid to late fall it is anticipated that the market will continue to show growth and improvement from previous years.
2017 vs 2016 YTD :: 6-month Snapshot
As we progress through the active summer selling season, this 6-month Local Real Estate Market Stats Snapshot report shows significantly increases in home sales in the Taos and Angel Fire markets for single family detached homes and for vacant land parcels. Demand for condominiums remains rather stagnant with sales about the same as the in the same period of 2016. As we continue through the primary sales season for our local markets of mid spring through mid to late fall it is anticipated that the market will continue to show growth with sales outperforming last year’s sales.
2017 vs 2016 YTD :: 9-month Snapshot
As we head into Fall, this 9-month Local Real Estate Market Stats Snapshot report shows single family home sales up in all local markets compared to the same period last year. Condominium sales on the other hand were down in all markets except Angel Fire when compared to the same period last year. Land sales have also seen a significant spike in activity in the Angel Fire and Taos markets compared to last year and there are some new construction projects in both of these local markets. It is anticipated that local market conditions will remain constant through the end of the year.
2017 vs 2016 YTD :: 12-month Snapshot
Closing out 2017, this 12-month Local Real Estate Market Stats Snapshot report shows single family home sales up in all major local markets; 15.4% in Angel Fire, 10.3% in Red River, 12.4% in Taos, and 100% in Taos Ski Valley. Condominium sales on the other hand only saw an increase in units sold from 2016 in the Angel Fire market with slight decreases in units sold in all other local markets. Land sales also saw healthy increases in the Angel Fire and Taos markets, while holding steady in the Red River market and down somewhat in the Taos Ski Valley market.
As we start the new year activity is up in our normally slow winter months. This is likely due to fairly mild weather conditions so far this season as well as to the favorable business and job market conditions and outlook around the country. Home mortgage interest rates are still very low as well, providing home buyers with incentive to make a move and home purchase now.
The Taos County Association of Realtors (TCAR) serves all of Taos County and western Colfax County, including our primary markets of Taos, Angel Fire, Taos Ski Valley, and Red River. For any questions regarding local real estate market stats, contact the TCAR office at 1210 Salazar Rd, Suite H, Taos, NM 87571 – (575) 758-7411.
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