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quarter Taos real estate trends and Taos news!
quarter we update this information with current Taos real estate
market data, featured Taos real estate listings, industry news,
special events in Taos, and noteworthy Taos news. You’ll
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Taos real estate market data: First Quarter, 2013
Our market activity slowed during the first quarter. Residential inventory levels increased over last quarter 4% with 737 active residential listings, while land inventory decreased 2% with 1090 active land listings. Pending residential sales declined 29% compared to last quarter with 37 properties under contract. Pending land sales declined 10% with 18 currently under contract. Residential single family homes sold during the first quarter declined 31% as compared to fourth quarter 2011 with 64 units sold. Average single family home price rose 3% to $315,242, and median price decreased 14% to $250,000 while average days on market increased 19% to 330.
Featured Taos property
estate industry news
As the national economy recovers, the national real estate market is bullish with declining inventories and historic low 30 year fixed mortgage interest rates of 3.5%. The “Fiscal Cliff” bill signed in January offered homeowners two particular benefits: The Energy Efficiency Tax Credit, (the 10% tax credit up to $500 for homeowners for energy efficiency improvements to existing homes) is extended through 2013 and made retroactive to cover 2012, and the Mortgage Cancellation Relief is extended for one year to January 1, 2014. S&P/Case Shiller reported that by the end of 2012 US home prices posted the biggest yearly gain since 2006. USA Today reported Americans have finally regained the $16 trillion in wealth they lost to the Great Recession, thanks to surging stock prices and rising home values. RealtorMag and Housingwire both cited another showing of home prices surging. CoreLogic’s home price index shows that prices nationwide in January rose 9.7 percent year-over-year, posting their largest percentage increase since April 2006. Businessinsider.com reports inventory is down 22% from the end of 2011. Since the majority of our market’s buyers are from out of town, the national real estate recovery bodes well for Taos real property investments.
Taos special events
Ski season is over and Spring has sprung! Taos Chamber Music Group concerts continue through June 2nd. The Taos School of Music concert series debuts June 16 and runs through August 4th. May 17-19th will be the first annual Taos Lilac Festival. Red River Memorial Weekend Motorcycle Rally takes place May 22-27. Taos Plaza Live begins with live music concerts May 23rd every Thursday evening 6:00-8:00pm on the Plaza through September 5th. Taos Solar Music Festival returns June 6th at Kit Carson Park with Mumford and Sons! Find all local events at Taos.org.
in the news
Taos has received an abundance of national media attention this year! Our very own Patricia Michaels of Taos Pueblo is the first Native American contestant to compete on Lifetime’s Project Runway! National Geographic recently featured Taos as an adventure town, and named Taos Ski Valley one of the best 25 ski resorts in the world. Congrats to El Monte Sagrado for being named by Huffington Post as one of the world’s ten most relaxing eco-resorts. Julia Roberts addressed the benefits of raising her children outside of Hollywood on her Taos ranch with Parents magazine. MSNBC named Taos Ski Valley as one of the top ten family ski resorts of North America. New Mexico Magazine counted 25 reasons to love Taos. New York Magazine and Entertainment Magazine both weighed in on Adventures de Taos. Road and Track featured good Taos eats on the road. Grammy winning English folk band Mumford and Sons announced they will play Taos at the Taos Solar Music Festival on June 6th during their North American summer tour! We thank you, Mr. President, for signing the designation for the Rio Grande del Norte National Monument located in our treasured Taos Plateau and Rio Grande Gorge as reported by every major new media in the US!