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Hi, and welcome to the Taos Properties News Page.
We try to update this several times a year to give our clients and visitors
a general understanding of current real estate market conditions, and to note any events which may be of interest.
We have just completed our midyear 2011 review of our listings and the Real Estate market in Taos County.
Here is some news...The Commercial Market has remained the same as last year with 10 sales. This year, the majority of sales are under $300,000.
Land sales have picked up, there were 37 sales this year versus 28 at this time in 2010 (there were 68 in 2008).
In the residential area, overall sales are at the same pace as compared to last year at this time. We sold 97 homes in Taos County in 2010 and this year 98.
In 2011, the most activity we have seen in our market has been house sales under $300,000.
Above this price range, residential sales are steady, compared to last year. The market is moving and there are many opportunities.
Looking ahead, I am always optimistic and thinking there are great opportunities for both Buyer's and Seller's.
Buyer's with realistic expectations can find the home or property of their dreams and can soon be living in the most magical place on earth.
My best advice to Seller's, is to price your property realistically and be patient for the right home buyer to purchase your home.
Buying and Selling real estate takes time and can be accomplished easily and with minimal stress using the right agents and office.
Please call Taos Properties so we can assist with all of your real estate needs.
| Land Sales |
Residential & Development
Lots |
|
January
to June |
| |
2010 |
|
2011 |
|
Percent
Change |
| (000's) |
# of Units |
Total $ Vol.
(m's) |
# of Units |
Total $ Vol.
(m's) |
# of Units |
Total $ |
| 50-200 |
19 |
1.80 |
19 |
1.86 |
0.00% |
-3.67% |
| 200-400 |
7 |
2.01 |
16 |
4.50 |
128.57% |
123.88% |
| 400-600 |
2 |
1.09 |
1 |
0.45 |
-50.00% |
-58.72% |
| 600-900+ |
0 |
0.00 |
1 |
0.75 |
100.00% |
75.00% |
|
| |
28 |
4.90 |
37 |
7.56 |
24.32% |
35.24% |
The market in land has been hardest hit during this recession even in Taos. But 2011 is shaping up to be year of recovery. To date, the number of transactions
shaping up to be about 24% of 2010.
If anything points to confidence in the underlying value of Real Estate in the Taos market it is sales of land. Buyers--the huge inventory suggests a lot of opportunity
awaits. Given the plethora of choices you are sure to find just what you want.
Residential
Sales (Single Family Only-Excluding Condos)
|
January
to June |
| |
2010 |
|
2011 |
|
Percent
Change |
| |
#
of Units |
Total
$ Vol. (m's) |
#
of Units |
Total
$ Vol. (m's) |
#
of Units |
Total
$ |
| 100-300 |
52 |
11.23 |
55 |
11.02 |
5.77% |
-1.83% |
| 300-450 |
32 |
11.42 |
26 |
9.70 |
-18.75 |
-15.09% |
| 450-600 |
8 |
4.16 |
12 |
6.38 |
50.00% |
53.37% |
| 600-1M |
5 |
4.15 |
5 |
3.97 |
0.00% |
-4.22% |
|
| |
97 |
30.96 |
98 |
31.07 |
1.03% |
0.38% |
In the lower half of the Taos market, 2011 is very stable. The first tier of the Single Family resale market in Taos is the most
robust in volume and in price stability. Our numbers suggest that there is marginal gain in this price category. But even in the top
two tiers of the market there is consistency although our numbers support our anecdotal assertion that these upper categories
are suffering downward price pressure.
Condo
/ Townhouse Sales
|
January
to June |
| |
2010 |
|
2011 |
|
Percent
Change |
| |
#
of Units |
Total
$ Vol. (m's) |
#
of Units |
Total
$ Vol. (m's) |
#
of Units |
Total
$ |
| 100-250 |
23 |
3.44 |
18 |
2.82 |
-21.74% |
-18.08% |
| 250-400 |
2 |
0.55 |
1 |
0.30 |
-50.00% |
-46.36% |
| 400 + |
1 |
1.09 |
0 |
0.00 |
-100.00% |
-100.00% |
|
| |
26 |
5.08 |
19 |
3.11 |
-36.80% |
-63.00% |
Condo sales are among the most challenged categories of Real Estate nationwide as
underwriters force more scrutiny over ownership and marketability of product. The Taos condo market is no exception, but there is a large inventory and now is the time to start looking.
There are many beautiful places in the US, but few compare to Taos. Sitting at 7,000 feet
above sea level, we have the advantage of clean crisp air, consistent blue skies, and magical sunsets. It
is worth the trip, even if you sit in one spot and just breath! If you want to do more than that, you
can always watch the locals. They are as colorful as the sunsets, with just as much character!
If you are planning a trip to Taos give us a call or email us. We like to offer clients
what we refer to as a “map tour of the area”. We do this in the office to help you get
acquainted with the nuances of Taos. We cover building costs, neighborhoods, topography, financial
considerations, schools, and any number of things to help you with your decision making process. We find
that any good decision requires comprehensive factual information coupled with a focused process.
We give you the information you need to make smart decisions, and after that it can be fun and easy.
We look forward to hearing from you.
John and Lisa Cancro
Owner/Brokers
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