Taos Real Estate Intelligence Report

The Taos County residential market remains buyer-favoring, and this week’s data shows a softer transaction pace than last week. The weekly activity view recorded only 2 total closings, both residential, with no land, commercial, or multi-use closings recorded for the week. Countywide active residential inventory held at 463 listings, while months of supply moved higher to 14.9 as the corrected four-week residential closing count fell to 31.

The weekly sales sample is extremely thin, so this week’s median sale price of $475,000 should not be read as a clean market-wide pricing shift. The more important change is in absorption: the rolling four-week closing count moved down from 36 to 31, and both core county and resort-market supply loosened. Buyers still have leverage across much of the county, especially where inventory is older, overpriced, or sitting outside the better-moving price lanes.

Taos County remains a high-supply, buyer-favoring residential market. The important change this week is that last week’s improved absorption did not strengthen further. Weekly closed activity fell sharply, from 10 residential closings last week to 2 this week, and the corrected four-week residential closing count moved down from 36 to 31.

Countywide months of supply rose from 12.9 to 14.9, even though active residential inventory remained unchanged at 463 listings. That tells the story clearly: the inventory base did not expand, but the corrected rolling pace of sales slowed. This is not a collapse, but it is a loosening from last week’s stronger absorption read.

The internal split also became more pronounced. Core county remains the stronger side of the residential market, but core supply moved from 9.9 to 11.2 months as four-week sales fell from 26 to 23. Resort-market supply softened more sharply, moving from 20.6 to 25.8 months as four-week resort sales fell from 10 to 8. The core market is still clearing more reliably than the resort side, but both segments remain buyer-favoring.

Weekly residential pricing moved higher on paper, with the median sale price rising from $392,500 to $475,000. That needs careful framing. This week’s price reading is based on only 2 residential sales, with a range from $330,000 to $620,000 and median days on market at 233. The sales that did close were older listings, which reinforces that buyers are still selecting carefully rather than broadly absorbing the available inventory.

Land remains the most oversupplied segment in the county. Active land inventory stands at 702 listings, with deep concentration in lower-price, smaller-acreage parcels. No land sales appeared in this week’s closed activity view, so there is no weekly land activity signal strong enough to change the structural read.

Closed Sales (All Classes): 2

Closed Sales (Residential): 2

Closed Sales (Land): 0

New Listings: 44

Pending Contracts (Under Contract): 68

Total Pending Inventory (All Classes): 170

Price Adjustments: 34

Expired Listings: 15

4-Week Residential Closings: 31

Active Residential Listings: 463

Months of Supply: 14.9

The headline read this week is weaker absorption against a still-large inventory base. Active residential inventory held steady, but the four-week sales count fell, pushing months of supply higher. Buyer leverage remains present countywide, especially as active inventory continues to age.

Countywide Market Supply

Active Listings: 463

4-Week Sales: 31

Months of Supply: 14.9

Core County Market Supply

Active Listings: 257

Median Active Price: $549,000

Average DOM: 232.3

Median DOM: 185

4-Week Residential Sales: 23

Months of Supply: 11.2

Resort Market Supply

Active Listings: 206

Median Active Price: $541,500

Average DOM: 278.8

Median DOM: 234

4-Week Residential Sales: 8

Months of Supply: 25.8

The core county remains the stronger residential segment, but it loosened this week as corrected four-week sales moved lower. Core supply rose to 11.2 months, which is still materially better than the resort-market reading but no longer below 10 months. Resort-market supply moved to 25.8 months, showing much slower absorption and a deeper buyer-favoring structure. Countywide supply should therefore be read as two separate markets: a selective but functioning core market, and a resort market that continues to carry much slower clearing conditions.

• Weekly closed activity was very light, with only 2 total property closings, both residential.

• Corrected rolling residential activity softened, falling from 36 to 31 closings over the four-week window.

• Countywide months of supply rose from 12.9 to 14.9, showing weaker absorption even though active residential inventory held at 463.

• Core county remains stronger than the resort market, but core supply loosened from 9.9 to 11.2 months.

• Resort-market supply worsened from 20.6 to 25.8 months, keeping the resort side substantially slower than the core.

• Weekly residential pricing moved higher, but the sample included only 2 sales, so the price signal is too thin to treat as a broad market shift.

• Median DOM for this week’s residential closings rose to 233, showing that older listings were part of the week’s closing mix.

• Only 20.1% of active residential inventory has been on the market less than 90 days, down from 22.2% last week, which means the active inventory pool continues to age.

• Price adjustments increased from 28 to 34, and expired listings increased from 7 to 15, showing renewed seller pressure.

• The median list-to-sale ratio was 94.01% across 883 sampled residential sales, which continues to support the read that negotiation remains present.

This week recorded 2 total property closings, both residential home sales. No land, commercial, or multi-use closings appeared in the weekly activity view.

The market added 44 new listings, showed 68 under-contract listings in the current weekly snapshot, posted 34 price adjustments, and recorded 15 expired listings. Compared with last week, weekly closings fell sharply, new listings increased, pending contracts edged higher, price adjustments rose, and expired listings more than doubled. That mix points to a market where supply pressure and seller correction activity are still active, even though the pending pipeline remains substantial.

Closed Sales (Residential): 2

Closed Sales (All Classes): 2

New Listings: 44

Pending Contracts (Under Contract): 68

Total Pending Inventory (All Classes): 170

Price Adjustments: 34

Expired Listings: 15

Pending activity represents the current pipeline of listings under contract, not a measure of new weekly demand.

Under Contract (weekly snapshot): 68

Total Pending Inventory (all classes): 170

The pending pipeline remains substantial, with 68 listings under contract in the weekly view and 170 total pending listings across all classes. These figures are useful as a forward activity signal, but they are not guaranteed closings. Contracts still have to move through inspection, financing, appraisal, title, and closing. This week’s light closed-sale count is a reminder that pending inventory and closed activity do not move in perfect alignment week to week.

Residential Sales This Week: 2

Median Sale Price: $475,000

Average Sale Price: $475,000

Weekly Price Range: $330,000 – $620,000

Median Days on Market: 233

Average Days on Market: 232.5

This week’s residential pricing is based on only 2 sales, so the median and average should be treated as a very limited weekly signal. The median sale price moved higher from $392,500 to $475,000, but the sample is too thin to support a countywide pricing conclusion.

The more important detail is days on market. Median DOM rose from 82 last week to 233 this week, and average DOM came in at 232.5. That shows that this week’s closed sales came from older inventory. Buyers are still closing, but this week’s activity does not suggest broad urgency. It suggests selective demand finding deals that had already spent substantial time on the market.

Total Residential Closings (4 Weeks): 31

4-Week Median Sale Price: $435,000

4-Week Average Sale Price: $524,194

4-Week Median Days on Market: 61

4-Week Average Days on Market: 109.5

The corrected four-week view weakened this week. Residential closings fell from 36 to 31 over the rolling window, which pushed countywide months of supply higher. This is the steadier measure of market pace, and it shows that absorption softened even though active inventory did not grow.

Rolling pricing moved higher, with the four-week median rising from $420,000 to $435,000 and the four-week average rising from $506,417 to $524,194. Rolling DOM improved slightly, with median DOM moving from 64 to 61 and average DOM moving from 126.3 to 109.5. That combination is mixed: the homes that are closing in the rolling window are not necessarily taking longer, but the total number of closings fell. The market is still transacting, but the pace is not strong enough to overcome the depth and age of available inventory.

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Active Residential Listings: 257

Listings Above $500,000: 139

Listings Below $400,000: 87

Median Active List Price: $549,000

Average Active Days on Market: 232.3

Median Active Days on Market: 185

Core county remains the stronger residential segment, but it loosened this week. Active inventory held at 257, while corrected four-week residential sales fell from 26 to 23. That moved core months of supply from 9.9 to 11.2. The core market is still more functional than the resort side, but this week’s absorption reading is less favorable than last week’s.

Two- and three-bedroom homes still dominate the core inventory base, with 95 active 2-bedroom homes and 96 active 3-bedroom homes. The lower and middle bands remain important, but the core market also continues to carry a substantial upper-end inventory stack.

The best core absorption signal is still in the $600K–$699K band, which carries 3.2 months of supply. The next strongest calculated band is $800K–$899K at 8.0 months, followed by $300K–$399K at 8.8 months. That is a meaningful change from last week’s pattern, when the $700K–$799K band was one of the stronger lanes. This week, $700K–$799K loosened to 12.0 months as the rolling sold count fell.

The weakest parts of the core structure remain the very upper end and some slower middle bands. The $1M-plus core market shows no current four-week clearing signal in the two highest bands, while $900K–$999K carries 15.0 months of supply. Core county has real buyer activity, but it is still highly price-band dependent.

The tightest core-county band is $600K–$699K at 3.2 months of supply. The $300K–$399K and $800K–$899K bands are also comparatively more active than the rest of the core market, at 8.8 and 8.0 months respectively.

Several core bands remain much slower. Under $300K, $400K–$499K, $500K–$599K, and $700K–$799K all sit at 10 months or more. The $1M–$1.49M and $1.5M-plus bands recorded no sales in the rolling window, so months of supply is not calculated for those bands. Core county remains the stronger side of the county, but it is not tight across the board.

Active Residential Listings: 206

Listings Above $500,000: 105

Listings Below $400,000: 84

Median Active List Price: $541,500

Average Active Days on Market: 278.8

Median Active Days on Market: 234

The resort markets remain much slower than the core county and softened further this week. Active inventory held at 206 listings, but corrected four-week residential sales fell from 10 to 8. That moved resort-market supply from 20.6 to 25.8 months. The resort side is still transacting in limited pockets, but the broader structure remains deeply buyer-favoring.

The resort market remains older, slower, and more selective than the core county. The largest inventory concentration remains under $300K, with 57 active listings, much of it weighted toward 1- and 2-bedroom properties. But even that lower-price resort band carries 14.3 months of supply, which is still buyer-favoring.

The resort market’s previously stronger $700K–$799K lane weakened this week. That band moved to 21.0 months of supply, with 21 active listings and only 1 rolling sale. The $1.5M-plus band now shows 14.0 months of supply, but with only 1 rolling sale, that should be treated as a thin signal rather than broad upper-end strength.

Several resort bands have no current four-week clearing signal at all, including $500K–$599K, $600K–$699K, $800K–$899K, $900K–$999K, and $1M–$1.49M. Resort demand exists, but it is not broad enough to absorb the active inventory base quickly.

The resort market does not currently show a clearly tight price band. The best calculated resort readings are still elevated: under $300K and $1.5M-plus both sit at 14.0 months or more. The $300K–$399K band carries 27.0 months, while $700K–$799K loosened to 21.0 months.

The larger point is that resort-market activity remains thin and uneven. Many bands recorded no rolling four-week sales, so months of supply is not calculated for those bands. The resort side remains the clearest residential source of countywide supply drag.

Active Residential Listings: 463

Listings Above $500,000: 244

Listings Below $400,000: 171

Median Active List Price: $549,000

Average Active Days on Market: 253.1

Median Active Days on Market: 200

Countywide residential inventory remained unchanged at 463 active listings, but inventory age moved higher. Average active DOM increased to 253.1, and median active DOM reached 200. The active inventory base is not just deep; it is increasingly long-exposed. That matters because it gives buyers more room to compare, negotiate, and wait for better alignment.

Approximately 20.1% of active residential inventory has been on the market less than 90 days. That means roughly four out of five active residential listings are longer-exposed supply. The fresh-inventory share fell again this week, reinforcing that the market is still carrying a substantial aging inventory base even while some homes continue to transact.

Active Land Listings: 702

Land remains the most supply-heavy segment in Taos County. Active land inventory is unchanged at 702 listings, and this week’s closed activity view showed no land closings. The acreage and price-band structure remains heavily concentrated in lower-price, smaller-acreage parcels.

The dominant land price band remains Under $50K, with 199 active listings. The dominant acreage bucket remains 1–5 acres, with 323 active listings. Sub-$300K land accounts for 599 active listings, which shows how heavily the land market remains weighted toward lower-price inventory.

The land market remains structurally oversupplied. Selected land months-of-supply signals reinforce that point:

• Under $50K total band: 49.8 months supply

• $50K–$74,999 total band: 25.3 months supply

• $75K–$99,999 total band: 38.5 months supply

• $100K–$199,999 total band: 35.8 months supply

• $200K–$299,999 total band: no current broad clearing signal despite 79 active listings

There was no weekly land closing activity in this week’s closed view, and the active inventory base remains too large for the land market to be read as anything other than buyer-favoring and slow.

Weekly activity reflects the available report-week activity view. Rolling trend and months-of-supply figures are close-date adjusted as later all-sold data backfills into the historical record.

Withdrawn activity was not included in this week’s public activity summary.

Taos County remains a buyer-favoring market, and this week’s report shows a softer absorption picture than last week.

The weekly closing count fell to only 2 total closings, both residential. The corrected rolling four-week view also softened, moving from 36 residential closings last week to 31 this week. With active residential inventory holding at 463, countywide months of supply rose to 14.9.

The internal market shifted this week:

• core county remains the stronger segment, but loosened from 9.9 to 11.2 months of supply

• resort-market supply worsened from 20.6 to 25.8 months

• weekly pricing moved higher, but only 2 residential sales closed, so the sample is too thin for broad pricing conclusions

• this week’s closed homes had high days on market, showing that older inventory is still part of the transaction mix

• active inventory age worsened, with only 20.1% of listings under 90 days on market

• price reductions and expired listings both increased

• land remains deeply oversupplied, with no weekly land closings in the current activity view

The practical read is straightforward: buyers still have leverage because supply is deep, aging, and clearing slowly. Sellers can still transact, but the market is selective and less forgiving than last week’s stronger rolling absorption might have suggested. The best-positioned homes can still move, but broad pricing power is not back.

How many homes sold in Taos County this week?

2 residential homes sold in Taos County this week. The weekly activity view showed 2 total closings across all classes, both residential. No land, commercial, or multi-use closings were recorded in this week’s activity view.

What is the median home sale price in Taos County?

The median residential sale price this week was $475,000, based on 2 residential sales. Because the weekly sample is extremely small, this number should be viewed alongside the corrected 4-week rolling median of $435,000.

Is the Taos real estate market favoring buyers or sellers right now?

The Taos market is still buyer-favoring overall. Countywide residential supply stands at 14.9 months, with 463 active residential listings. Some core-county price bands are moving better than the headline suggests, but the countywide market still has more inventory than current demand can quickly absorb.

How much housing inventory is available in Taos County?

There are 463 active residential listings in Taos County. Of those, 244 are listed above $500,000 and 171 are listed below $400,000. The median active list price is $549,000.

What does months of supply mean?

Months of supply estimates how long it would take to sell the current active inventory at the current pace of sales. Taos County has 14.9 months of residential supply, which indicates buyer leverage countywide even though some specific price bands are moving faster.

How are core county and resort markets different?

The core county market is clearing faster than the resort market. Core county has 257 active residential listings and 11.2 months of supply. Resort markets have 206 active residential listings and 25.8 months of supply, making the resort side much slower this week.

What is happening in the Taos land market?

The land market remains structurally oversupplied, with 702 active listings. The largest land concentration is in the Under $50K price band, and the largest acreage bucket is 1–5 acres. No land closings appeared in this week’s closed activity view.

Why do weekly sales and rolling four-week sales differ?

Weekly sales show what closed in the current report-week activity view. Rolling four-week sales use close-date history across a broader window, so later broker-reported sales can be assigned back to their actual closing weeks. The rolling view is better for market pace.

Chad Belvill

Associate Broker • Dreamcatcher Real Estate Co. Inc.

515 Gusdorf Rd Suite 6, Taos, NM 87571

575-779-3612 (C) • 575-758-3606 (O)

Chad@exclusivetaos.com

NM Real Estate License #REC-2024-0150

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