Taos County Association of Realtor's (TCAR) posted the following statement, based on a 3-6 month snapshot of our real estate market:
Comparing the first 3 to 6 months of 2017 to 2016, the 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.
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.
TCAR serves all of Taos County, including our primary markets of Taos, Angel Fire, Taos Ski Valley and Red River. For more information about TCAR, visit their website at http://TaosCountyAssociationofRealtors.com/.