Your Go-To Resource for Taos, New Mexico Real Estate
With over 40 years of real estate and land surveying experience, Joel K. Schantz, CRB has unparalleled knowledge of the Taos Real Estate market. With his finger on the pulse of local real estate supply and demand, Joel offers an invaluable edge to both Buyers and Sellers.
From first homes to luxury homes and investment properties to commercial real estate, Joel Schantz and his Team have the expertise to help you achieve your lifestyle needs and negotiate the best deal possible. Contact Joel today at 800.530.8899 ext 501, 575.770.6258 or jschantz@newmex.com.
Buying & Selling Taos Homes
Looking for that ideal property? Whether you're searching as a first time home buyer or a second home, downsizing or upgrading, we will can help you find the perfect Taos home for sale.
When it comes to selling Taos properties, Joel Schantz and Berkshire Hathaway Taos Real Estate provide unrivaled market exposure for home owners with the marketing and support of the professional brokerage, Berkshire Hathaway HomeServices. Stay in touch with text, email, social media or the old fashioned way of “picking up” the phone and call. Looking forward to meeting you.
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Taos Real Estate Market Report for 2023
In a nutshell, the market is down. Covid is over. The Taos real estate market has become more of a norm when it comes to historic activity and units sold.
The big difference is the average sales price of single family home has climbed from $393,315 in 2019 to $577,452 for 2023. The prices are remaining high due to less inventory and the fluctuation in interest rates. Days on market are increasing as well as the absorption rates. Units sold in 2019 was 240, in 2023, it was 233. Looking at charts, the activity has slowed -44% from its height in 2022 of 366.
The luxury market alone has taken a hit with an -80% decrease in sales between $1M and $1.5M. The bell curve of price ranges remains the same with the most sales in the $401,000 - $500,000 range.
Condominium sales decreased in sales greatly with 56 sales primarily in the Town of Taos and Taos Ski Valley. The average sales price of $473,855 has been driven up by Ski Valley sales averaging $685,647.
Building sites (<5 acres), also decreased in unit sales with the average sales price remaining over $100,000 for the past 3 years.
Commercial units reported in the MLS drastically decreased from 18 sales in 2002 to a mere 6 in 2023. (Many commercial sales are transacted out of the MLS system.)
Total Market figures tell the story: Units down by -37% and Sales Volume down by -45%. We may be looking at 2019 as our benchmark of what may be our normal norm.
Charts are available by contacting the Schantz Team: Joel, Kristine, Yvonne, and Julie.
