Taos Single Family Homes - Annual Comparisons
Latest 12-month period compared to Immediate Preceding 12-month period
12-months ending Dec 2007 12-months ending Mar 2008 12-months ending Jun 2008 12-months ending Sep 2008 12-months ending Dec 2008
Analysis Taos Single Family Homes The market has finally taken a turn - the total dollars sold in the most recent completed reporting period has decreased more than the total units sold in the same period. Also, the median home sold price is down 6.2%, and the average home sold price is down 4.9%.
70.0%
65.0%
60.0%
58.7%
50.0% 44.8% 40.0% 32.8%
43.2%
Good news is that inventory has come down by just over 18%, and average days on market (DOM) is down 4.8%.
Percent Change
30.0% 22.7% 20.0% 10.8% 10.0% 6.3% 2.3% 0.2%
-6.7%
28.0%
26.7% 22.5%
10.2% 9.7% 6.0% 5.3%
7.5%8.5% 4.8% 4.4%
8.5%
5.6% 5.2% 1.3% 1.1%
2.5%
0.0% -4.6%
-11.9%
0.0%
-0.6% -4.9% -3.2%
-6.2%
-4.8%
-10.0%
-12.1% -16.7%
-16.6%
-18.1%
-20.0%
-22.5%
-21.5% -25.4%
-24.1% -29.7%
-30.0%
Except for the Inventory figures …. All comparisons are between the indicated 12-month period and the preceding 12-month period that ended on the last day of the month immediately preceding the 12-month period of this report. For example, the 12-months ending on Dec 31, 2008 compared to the 12-months ending on Dec 31, 2007.
Example
Preceding 12-month Period Indicated 12-month Period thru Dec 31, 2008 /
-40.0% Total Sold Dollars Median Sold Price Average Sold Price Median Sold $ / Home SqFt Average Sold $ / Home SqFt Nbr Sold Inventory (% Chg from prev Qtr) Median DOM Average DOM
/ Jan 1, 2007
thru
Dec 31, 2007 / Jan 1, 2008
Taos Condos - Annual Comparisons
Latest 12-month period compared to Immediate Preceding 12-month period
12-months ending Dec 2007 12-months ending Mar 2008 12-months ending Jun 2008 12-months ending Sep 2008 12-months ending Dec 2008
Analysis Taos Condos The Taos condo market continues to see a steep decline in total number of units sold and in total dollars sold, however the total dollars sold decline is slowing while the number of units sold decline is still steepening. The good news is that both the median sold price and the average sold price have increased (5.4% and 25.7% respectively).
40.0% 31.8% 30.0%
25.7%
20.0% 13.4% 10.5% 10.0%
7.9% 5.4%
1.1% 0.9%
0.1% 0.4%
8.2% 3.9%4.8% 3.3% 4.2%
-1.1%
10.0% 6.0% 6.0%
4.6% 4.3% 2.6% 1.4%
And more good news in the fact that both inventory and the average days no market (DOM) are declining.
0.0%
0.0%
-0.7% -7.8%
-0.6%
Percent Change
-2.8% -7.2% -10.0%
-12.5%
-10.4%
-20.0% -23.3% -30.0% -38.5% -40.0% -36.7% -24.0%
-20.2% -28.1%
-19.7%
-45.5%
-50.0% -48.2% -51.8%
-52.9%
-48.4%
-52.9%
-60.0%
-61.6%
Except for the Inventory figures …. All comparisons are between the indicated 12-month period and the preceding 12-month period that ended on the last day of the month immediately preceding the 12-month period of this report. For example, the 12-months ending on Dec 31, 2008 compared to the 12-months ending on Dec 31, 2007.
Example
Preceding 12-month Period Indicated 12-month Period thru Dec 31, 2008 /
-70.0% Total Sold Dollars Median Sold Price Average Sold Price Median Sold $ / Condo SqFt Average Sold $ / Condo SqFt Nbr Sold Inventory (% Chg from prev Qtr) Median DOM Average DOM
/ Jan 1, 2007
thru
Dec 31, 2007 / Jan 1, 2008
Taos Improved and Unimproved Land - Annual Comparisons
Latest 12-month period compared to Immediate Preceding 12-month period
12-months ending Dec 2007 12-months ending Mar 2008 12-months ending Jun 2008 12-months ending Sep 2008 12-months ending Dec 2008
Analysis Taos Improved and Unimproved Land Taos land sales have continuted to see significant declines in both number of properties sold and in total dollars sold - however, the rate of decline appears to be slowing. Both the median price per acre and the average price per acre continue to see significant increases. And finally, good news in that both inventory and the average days on market (DOM) are showing significant decreases.
70.0%
63.1%
60.0% 50.0% 40.0% 30.0%
21.5%
48.8%
43.8%
51.2% 47.6% 45.3%
26.5% 21.4% 13.8% 9.0%
3.1% 7.2%
20.0%
Percent Change
12.5%
10.0% 0.0% 1.4%
4.2% 0.0% -1.4% -12.5% -12.8% 0.0%
-3.9% 1.0% -0.4%
-5.2%
-10.0% -20.0% -24.4% -30.0% -40.0% -46.4% -50.0% -55.8% -60.0% -64.0% -70.0% Total Sold Dollars Median Sold Price Average Sold Price Median Sold $ / Acre Average Sold $ / Acre Nbr Sold Inventory (% Chg from prev Qtr) -11.5% -16.1% -16.5%
-10.1%
-6.2% -9.1%
-23.0%
-31.9%
-30.6%
-37.9%
-38.4% -47.1% -47.1% -47.2% -48.9%
-40.5%
Except for the Inventory figures …. All comparisons are between the indicated 12-month period and the preceding 12-month period that ended on the last day of the month immediately preceding the 12-month period of this report. For example, the 12-months ending on Dec 31, 2008 compared to the 12-months ending on Dec 31, 2007.
Example
Preceding 12-month Period Indicated 12-month Period thru Dec 31, 2008 /
Median DOM
Average DOM
/ Jan 1, 2007
thru
Dec 31, 2007 / Jan 1, 2008
Brian Stenum, Associate Broker, EXIT Enchanted Realty Office (575) 751-0013 :: Cell (575) 779-1498 :: Email brian@taosnmrealestateinfo.com :: Web www.taosnmrealestateinfo.com Taos Real Estate Market Charts (Taos - Annual Comparisons)
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Taos Real Estate Market Trend Chart Notes
1) The data in the above charts was compiled from the NNMAR MLS system. While the data is believed to be accurate, it is not guaranteed. 2) Includes the following MLS Areas: Airport N64, Airport S64, Blueberry Hill, Canon, Canon Foothills, Colonias Lower, Colonias Upper, El Prado, Este Es Road, Weimer, Ranchitos-Lower, Ranchitos-Upper, Town of Taos, Cordovas, Llano Mesa, Llano Quemado, Orchard/LD/CATL/GIJ, Ranchos de Taos, Talpa, Talpa Foothills, Country Club, Vista Linda, Cordillera, Stakeout, and Pot Creek. 3) The data in the above charts does not include "manufactured" or "mobile" type homes. 4) Except for the Inventory figures, all comparisons are between the indicated 12-month period of this report and the immediately preceding 12-month period that ended on the last day of the month immediately preceding the first month of the indicated 12-month period of this report. For example, the 12-months ending Dec 31, 2008 compared to the 12-months ending Dec 31, 2007.
Example
Preceding 12-month Period Indicated 12-month Period thru Dec 31, 2008 /
/ Jan 1, 2007
thru
Dec 31, 2007 / Jan 1, 2008
Brian Stenum, Associate Broker, EXIT Enchanted Realty Office (575) 751-0013 :: Cell (575) 779-1498 :: Email brian@taosnmrealestateinfo.com :: Web www.taosnmrealestateinfo.com Taos Real Estate Market Charts (Taos - Annual Comparisons)
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