2018 Year End Real Estate Market Report – Taos, New Mexico

2018 Year End Real Estate Market Report – Taos, New Mexico


Tara Chisum here with the Chisum Realty Group
to talk about the Taos real estate market. There’s a lot of interesting things happening
here so we are going to dig into the data and see exactly what’s going on. Taos home values are on the rise. 2018 marks the fourth consecutive year that
we have seen an increase in both the median and the average home price. This is great news for homeowners. Additionally, we’ve seen a decrease in the
days on market, 2018 homes sold in an average of 140 days. Now as you know, Taos has an incredible variety
in the homes. So i’m going to break it down for you into
three different price points. First up, under $600,000. This is the largest segment of the market
making up 89% of the home sales. We’re currently seeing 5.8 months supply
of inventory, which is a seller’s market, and homes are selling at an average of 123
days. Next up is the $600,000-$1,000,000 price point. It’s currently in a buyer’s market due
to the 17 month supply of inventory. Homes are selling at an average of 256 days. We expect to see improvement in this segment
of the market in 2019, as it tends to follow the lower price range. And last but not least. $1,000,000 and up. Very interesting activity here. 2018 saw a 500% increase in the number of
home sales. Now that does make up only 6 home sales in
2018, but compared to the one home sale per year for the last four years, that’s an
incredible change in the market. If you are planning to buy or sell in 2019,
who you work with matters. Now more than ever it is important that you
partner with an experienced team, like ours, who can help you navigate the market and arm
you with valid data so you can make the best financial decision. To see the full market report visit chisumgroup.com
and i’ll see you next time.

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