Taos Real Estate Intelligence Report

The Taos market closed the week with **10 total closings across all property classes**, including **7 residential sales** and **3 land sales**. At the same time, new listing activity increased sharply, pending activity cooled from the prior week, and expired listings moved higher.

This report also marks the first weekly read after the close of the second quarter. Because this week straddles the end of Q2 and the start of Q3, I would not treat it as a clean quarterly summary by itself. But it does give us a useful transition point: the market is still moving, but the directional shifts are worth watching closely.

The headline is not collapse. It is not acceleration either. The better read is this: **activity remains steady, but buyers are selective, inventory is heavy, and pricing discipline matters.**

- **Closed sales:** 10 total, down 3 from the prior week

- **Residential closings:** 7, down 1

- **Land closings:** 3, down 2

- **New listings:** 53, up 18

- **Pending contracts:** 56, down 10

- **Price adjustments:** 33, down 14

- **Expired listings:** 21, up 6

- **Withdrawn listings:** data unavailable

- **Hot list:** data unavailable

The most notable shift this week is the split between **new supply rising** and **pending activity easing**. New listings jumped by 18 while pending contracts fell by 10. That does not mean the market is turning sharply lower, but it does show a little more friction between sellers entering the market and buyers committing to properties.

Expired listings also rose to 21, up 6 from last week. That is another sign that the market is not rewarding every listing equally. Well-positioned properties can still move, but stale or mispriced inventory is more exposed.

There were **7 residential closings** this week.

- **Median sale price:** $538,000

- **Average sale price:** $467,214

- **Lowest sale:** $225,000

- **Highest sale:** $675,000

- **Median days on market:** 62

- **Average days on market:** 82.6

The weekly residential median sale price moved up slightly, rising **$8,000** from the prior week. The average sale price, however, fell sharply, down **$472,161**. That does not necessarily indicate price weakness. It more likely reflects a change in the mix of what closed this week, with fewer high-end sales pulling the average down.

The more useful signal is days on market. Median DOM dropped to **62 days**, down **64 days** from the prior week. This suggests that the homes that did close this week were not necessarily old, stale listings. Buyers are still acting when the property, price, and presentation line up.

Single-week numbers can swing. The rolling four-week window gives the better read.

Over the past four weeks:

- **Residential closings:** 38, down 5 from the prior rolling window

- **Median sale price:** $556,500, up $53,500

- **Average sale price:** $652,966, down $11,453

- **Median DOM:** 77, up 9 days

- **Average DOM:** 160.8

The four-week numbers show a market that is still functioning but becoming more selective. Closings are lower than the prior rolling window, while the median price moved higher. That combination points less to broad weakness and more to unevenness: certain segments are still finding buyers, while others are sitting longer.

Median DOM rising from the rolling perspective matters. Even though this week’s closed sales moved faster, the broader short-term window still shows more time on market.

Active residential inventory sits at **440 listings**.

- **Active residential listings:** 440

- **Listed above $500,000:** 230

- **Listed below $400,000:** 163

- **Median active price:** $539,000

- **Median active DOM:** 241

- **Average active DOM:** 287.9

- **Residential months of supply:** 11.6

- **Pending-to-active ratio:** 12.7%

This is the inventory story that sellers need to understand. There is a lot of supply, and much of it has been sitting. Only **9.5% of active residential listings have been on the market fewer than 90 days**. The bulk of active inventory is older than that, with 178 listings in the 181–365 day range and 104 listings at 365+ days.

That does not mean every listing is in trouble. It means buyers have choices, and buyers are using that leverage.

At **11.6 months of residential supply**, the countywide market is buyer-favoring by absorption standards. But that number hides meaningful variation by price band.

The tightest residential segment this week is **$600,000–$699,000**, with **5.8 months of supply** countywide. That is the strongest absorption reading in the current price-band table.

Other notable countywide absorption signals:

- **$300K–$399K:** 9.1 months of supply

- **$500K–$599K:** 10.0 months

- **$700K–$799K:** 8.3 months

- **$900K–$999K:** 19.0 months

- **$1M–$1.49M:** 36.0 months

- **$1.5M+:** 12.3 months

The higher-end market is not one market. The $1M–$1.49M band is carrying very heavy supply relative to recent sales, while the $1.5M+ band looks better by comparison. That can happen in a small market when a few distinctive properties trade and a larger block of mid-luxury inventory sits.

For sellers, this is where pricing strategy becomes critical. A property cannot be priced against aspiration. It has to be priced against its actual competition.

The core and resort segments continue to behave differently.

### Core Residential

- **Active listings:** 241

- **Four-week residential closings:** 24

- **Months of supply:** 10.0

- **Median active price:** $549,000

- **Median active DOM:** 228

- **Weekly residential sales:** 5

- **Weekly median sale price:** $367,500

The core market has more sales volume and a lower absorption number than the resort market. The most active core price bands are not uniformly low-end. The strongest absorption readings are in the **$600K–$699K** band at **3.2 months** and the **$700K–$799K** band at **4.0 months**.

That is a useful signal. Well-positioned core homes in the right price bands are still finding buyers.

### Resort Residential

- **Active listings:** 199

- **Four-week residential closings:** 14

- **Months of supply:** 14.2

- **Median active price:** $525,000

- **Median active DOM:** 275

- **Weekly residential sales:** 2

- **Weekly median sale price:** $577,500

The resort market is carrying more supply relative to recent sales. Median active DOM is also higher than the core market. That does not mean there is no demand, but the market is slower and more segment-specific.

The tightest resort band this week is **$800K–$899K**, with **3.0 months of supply**, though that is based on a smaller activity base. Resort buyers are still present, but they are selective.

Countywide, the deepest active residential categories by bedroom count are:

- **3-bedroom homes:** 159 active

- **2-bedroom homes:** 147 active

- **4+ bedroom homes:** 86 active

- **1-bedroom homes:** 36 active

By absorption, 3-bedroom homes remain one of the healthier categories, with **8.8 months of supply** countywide. Two-bedroom homes are softer at **14.7 months**, and 4+ bedroom homes are also elevated at **14.3 months**.

That matters for sellers. Bedroom count, floor plan, usability, and price band all affect how a property competes. The market is not just “up” or “down.” It is sorting.

There were **3 land sales** this week.

- **Median land sale price:** $77,000

- **Average land sale price:** $92,000

- **Lowest land sale:** $44,000

- **Highest land sale:** $155,000

- **Median DOM:** 217

- **Average DOM:** 328

Active land inventory remains heavy, with **704 active land listings**.

The largest land inventory concentrations are:

- **Under $50K:** 200 listings

- **$50K–$74,999:** 103 listings

- **$75K–$99,999:** 77 listings

- **$100K–$199,999:** 141 listings

- **$200K–$299,999:** 79 listings

By acreage, the largest inventory bucket is **1–5 acres**, with **323 active listings**. The next largest is **under 1 acre**, with **166 active listings**.

The land market remains supply-heavy, especially in smaller acreage and lower price bands. That does not mean land will not sell, but it does mean sellers need to be realistic. Access, utilities, buildability, restrictions, road condition, water, and financing constraints matter heavily.

The broader residential list-to-sale ratio remains an important signal.

- **Median list-to-sale ratio:** 94.0%

- **Average list-to-sale ratio:** 91.4%

- **Sample size:** 751 sales with list price coverage

A median list-to-sale ratio around 94% suggests meaningful negotiation room across the broader sample. This is not a market where sellers can assume full-price outcomes by default.

For buyers, that means there may be room to negotiate when a property is stale, overpriced, or competing against similar inventory.

For sellers, it means the first pricing decision matters. Overpricing can push a listing into the stale inventory pool, where buyer leverage increases.

The market behavior data covers **121 residential listings that went pending in the past 365 days**, grouped by price band.

Median days to pending, where sample sizes are sufficient:

- **Under $300K:** 68 days to pending

- **$300K–$399K:** 189.5 days to pending

- **$500K–$599K:** 31.5 days to pending

The $500K–$599K band shows the fastest median days-to-pending among the unsuppressed bands. The $300K–$399K band is notably slower, which reinforces the point that lower price does not automatically mean faster movement. Condition, location, financing, property type, and buyer fit still matter.

Price reduction incidence before pending also shows buyers are not blindly chasing inventory:

- **Under $300K:** 30.4%

- **$300K–$399K:** 14.3%

- **$400K–$499K:** 14.3%

- **$500K–$599K:** 25.0%

- **$600K–$699K:** 25.0%

- **$700K–$799K:** 0.0%

- **$800K–$899K:** 0.0%

- **$1M–$1.49M:** 0.0%

Some of those higher bands have smaller samples, so do not overstate the zeroes. But the broader message is clear: reductions are part of the path to pending in several active bands.

The notable directional shifts this week are:

1. **New listings rose sharply.** New listings increased by 18 week over week, adding fresh supply.

2. **Pending activity cooled.** Pending contracts fell by 10, creating a softer supply-demand read than last week.

3. **Expired listings increased.** Expired listings rose by 6, suggesting that more sellers are reaching the end of their listing period without finding the market.

4. **Closed sales eased.** Total closings fell by 3, and residential closings fell by 1.

5. **Weekly median DOM improved, but rolling DOM worsened.** This week’s closed residential median DOM dropped to 62, but the rolling four-week median DOM rose to 77. That is not a contradiction. It means this week’s closings were quicker than the prior week, while the broader trend still shows more time on market.

6. **Median price is holding, but mix matters.** The weekly residential median rose slightly, and the four-week median rose meaningfully. The average sale price fell, likely due to fewer high-end closings in the weekly mix.

Buyers still have opportunity, especially if they are prepared and paying attention to the details. Inventory is deep, days on market are elevated, and the list-to-sale ratio suggests negotiation leverage exists.

That does not mean every property is negotiable in the same way. The best-positioned homes still attract attention. But buyers have room to be disciplined, especially with stale listings or properties that have already seen price reductions.

This is a market that rewards preparation and punishes wishful pricing.

Well-positioned sellers can still succeed. But the active inventory numbers are clear: buyers have options, and many listings are sitting for a long time. Presentation, pricing, condition, access, photography, showing readiness, and accurate competitive positioning all matter.

If you are selling, the question is not just “what do I want?” The better question is: “Where does my property sit against the competition buyers can choose from today?”

The Taos market is still chugging along, but the second-quarter transition is showing a more selective environment. New supply increased, pending contracts softened, expired listings rose, and active inventory remains heavy.

That is not a crisis. It is a disciplined market.

Buyers have opportunity. Sellers still have opportunity too, but only when they are realistic, well-positioned, and willing to compete honestly with the rest of the market.

Weekly totals reflect all property classes. Pricing analysis focuses on residential home sales unless otherwise noted. Counts are deduplicated by listing so that a property appearing in multiple export files is counted once.

Withdrawn listing data and hot list data were unavailable for this week’s report. Week-over-week active inventory comparisons are temporarily unavailable due to snapshot data integrity checks. Pending close-date fields remain unreliable and should not be used as a forward-closing forecast.

This week’s report covers the week ending **July 5, 2026**. The week straddles the end of Q2 and the beginning of Q3, so it should be read as a transition report rather than a complete quarterly summary.