2018 vs 2017 YTD :: Q1 3-month Snapshot
Home and land sales are starting off with a bang in 2018! As this 3-month Local Real Estate Market Stats report shows, the number of homes, condominiums, and land parcels sold in the 1st Quarter of 2018 were up across the board in 9 out of 12 categories, or in 75% of the reported categories, and were holding steady in another 2 of the 12 categories.
So what does this mean for the upcoming months and the rest of the year? Well, indications are that while sales remain strong, the availability of homes listed for sale is moderately low while buyers looking for homes remains high. Any decrease in available homes in a high demand situation will apply pressure on the market for prices to continue to go up. This is evident in this report where the average sold price for a single family home year to date this year compared to the same period in 2017 went up 13.1% in the Angel Fire area; up 16.3% in the Red River area; and up 16.5% in the Taos area.
Additionally, with 30-year fixed mortgage interest rates trending upward, climbing from around 4.00% at the beginning of the year to around 4.45% at the end of March, buyers are somewhat rushing to still capture a good rate before rates climb higher.
So if you have been thinking about selling your home, now is probably a good time.
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.
Find more local real estate market stats below:
- 2017 Local Real Estate Market Stats
- 2016 Local Real Estate Market Stats
- 2015 Local Real Estate Market Stats