Taos Real Estate Intelligence Report

The clearest change in this week’s Taos County housing numbers is on the resort side. Corrected four-week resort closings increased from 21 to 27, while core county held at 26. That brought the countywide rolling total from 47 to 53 and improved residential supply from 8.7 to 7.7 months.

The improvement comes largely from completed sales rather than a substantial reduction in available homes. Countywide residential inventory declined by just one listing, from 409 to 408. Buyers still have a broad selection overall, although the balance between inventory and recent sales differs considerably by location and price.

The resort pattern now extends across three published reports. Four-week closings rose from 20 on October 11 to 21 on October 18 and 27 this week, while resort supply declined from 9.3 to 8.9 to 6.9 months. That is a sequence of improving absorption readings, not proof that every resort property is attracting stronger demand.

The available inventory tells a less buoyant story. Countywide median active exposure increased again, reaching 319 days, and 134 listings fall in the 365-plus-day category. More completed transactions and a persistent base of aging inventory are both part of the current market.

Residential absorption improved in the current four-week window. There are 53 corrected closings against 408 active listings, producing 7.7 months of supply. The prior report had 47 closings against 409 listings and 8.7 months of supply.

All six additional rolling closings in the countywide comparison are on the resort side. Core county’s total remains 26, with unchanged inventory of 223 and unchanged supply of 8.6 months. Resort inventory declined from 186 to 185 while its closing count increased to 27, bringing supply to 6.9 months.

That reverses the relative position of the two groups. Resort supply was above core supply in the October 11 and October 18 reports; it is now below it. The change is meaningful for the current absorption comparison, but resort inventory remains older, with median active exposure of 349 days versus 281 in core county.

The countywide sequence is not a straight line. Four-week closings moved from 50 to 47 to 53 across the October 11, 18, and 25 reports, while months of supply moved from 8.2 to 8.7 to 7.7. The latest reading is better than either of the preceding two, but those overlapping windows do not establish uninterrupted acceleration.

Rolling sale prices have moved lower across those same reports. The four-week median was $527,500, then $479,750, and is now $447,000. The average also declined, from $621,280 to $610,768 to $596,175. This is a downward sequence in the prices of the closing samples, not a measurement of depreciation in comparable homes.

Weekly pending activity declined again, from 57 to 49, while the total pending pool increased from 361 to 369. Price adjustments fell from 28 to 22, and expirations increased from eight to 11. The market is therefore showing improved completed-sale absorption alongside fewer recorded weekly contract and adjustment events.

Land remains structurally oversupplied. Its active total held at 706, and the rolling land table again contains 12 sales. The residential improvement does not describe the land market’s much heavier inventory-to-sales imbalance.

• Closed Sales — All Classes: Not reported this week
• Closed Sales — Residential: Not reported this week
• Closed Sales — Land: Not reported this week
• New Listings: 29
• Pending Contracts — Under Contract: 49
• Price Adjustments: 22
• Expired Listings: 11
• 4-Week Residential Closings: 53
• Active Residential Listings: 408
• Residential Months of Supply: 7.7

The stronger rolling closing count supports a better absorption reading, with the improvement concentrated in resort markets. Countywide inventory remains almost unchanged, so the current picture is more completed activity against a broadly intact supply of homes.

Countywide Market Supply

Countywide residential supply combines the report’s core county and resort market groups.

• Active Residential Listings: 408
• 4-Week Residential Sales: 53
• Months of Supply: 7.7

Core County Market Supply

Core county is the residential inventory group outside the report’s resort market grouping.

• Active Residential Listings: 223
• Median Active Price: $535,000
• Average Active DOM: 310.9
• Median Active DOM: 281
• 4-Week Residential Sales: 26
• Months of Supply: 8.6

Resort Market Supply

Resort markets are the separately tracked resort portion of the countywide residential inventory.

• Active Residential Listings: 185
• Median Active Price: $499,000
• Average Active DOM: 379.9
• Median Active DOM: 349
• 4-Week Residential Sales: 27
• Months of Supply: 6.9

Core county’s inventory, rolling closing count, and supply reading match the October 18 report. Its internal distribution changed, but its aggregate balance did not.

Resort markets account for fewer active listings than core county and now have one more rolling closing. That produces the lower resort supply reading. It does not mean resort listings have shorter exposure or that every price band has become competitive.

Countywide supply of 7.7 months still leaves meaningful buyer leverage overall. The improvement is in recent absorption, rather than evidence that the county has become uniformly tight.

• Corrected four-week residential closings increased from 47 to 53.
• Countywide residential inventory declined from 409 to 408.
• Months of supply improved from 8.7 to 7.7.
• Core rolling sales held at 26, and core supply held at 8.6 months.
• Resort rolling sales increased from 21 to 27, lowering supply from 8.9 to 6.9 months.
• Resort supply has declined across three reports: 9.3, 8.9, and 6.9 months.
• Weekly pending activity declined from 57 to 49.
• Total pending inventory increased from 361 to 369.
• Price adjustments declined from 28 to 22.
• Expired listings increased from eight to 11.
• New listings totaled 29.
• The four-week median residential price declined from $479,750 to $447,000.
• Four-week median sold DOM increased from 101 to 110 days, while average sold DOM declined from 128.9 to 122.4.
• Median active DOM increased from 311 to 319 days.
• The 365-plus-day inventory category increased from 131 to 134 listings.
• Forty-two listings have been active for 90 days or less, unchanged in count.
• The separate residential sales sample has a median list-to-sale ratio of 93.62% across 335 sales.
• Land inventory and rolling sales held at 706 listings and 12 closings.

The strongest recurring patterns in these reports are improving resort absorption and longer countywide active exposure. They describe different parts of the market and can occur at the same time.

The October 19–25 activity summary recorded 29 new listings, 49 pending contracts, 22 price adjustments, and 11 expired listings.

• Closed Sales — All Classes: Not reported this week
• Closed Sales — Residential: Not reported this week
• Closed Sales — Land: Not reported this week
• New Listings: 29
• Pending Contracts — Under Contract: 49
• Price Adjustments: 22
• Expired Listings: 11

Across the October 11, 18, and 25 reports, weekly pending counts moved from 60 to 57 to 49, while price adjustments moved from 35 to 28 to 22. Those are successive declines in the reported activity counts. They do not independently establish falling demand or less pricing resistance.

Expirations moved from 22 to eight to 11 over the same reports, without a consistent direction. An expiration count alone does not establish why a listing did not close.

This week’s 29 new listings cannot be compared with an October 18 new-listing count because that figure was not reported. Nor should new listings be subtracted from pending activity to estimate a change in inventory; those measures describe different events.

• Under Contract — Weekly Activity: 49
• Total Pending Inventory: 369

The weekly pending count is eight below the October 18 report, while the total pending pool is eight higher.

Across the last three reports, the total pool has increased from 357 to 361 to 369 even as weekly pending activity has declined. The distinction is between activity recorded during a reporting week and the inventory of contracts still working toward completion.

The 49 weekly contracts should not be added to the 369 pending total. Pending transactions also remain subject to contingencies and timing changes, so the larger pool is not a forecast of a particular number of upcoming closings.

Weekly residential sale prices and sold days on market are not reported in this edition.

The current residential pricing reference is the corrected four-week sample of 53 sales, with a median of $447,000 and an average of $596,175. Those are rolling figures, not substitutes for a weekly median or average.

There is therefore no current-week price comparison to make with the October 18 weekly sample. The broader rolling comparison follows below.

• Total Residential Closings — 4 Weeks: 53
• 4-Week Median Sale Price: $447,000
• 4-Week Average Sale Price: $596,175
• 4-Week Median Days on Market: 110
• 4-Week Average Days on Market: 122.4

The rolling closing count increased by six from the prior report, with core county unchanged at 26 and resort markets increasing to 27. Against 408 active listings, that produces 7.7 months of residential supply.

The resort sequence is more consistent than the countywide sequence. Resort rolling closings increased in each of the last two comparisons, while core closings moved from 30 to 26 and then held at 26. The current countywide improvement is therefore concentrated rather than evenly distributed.

The four-week median price declined by $32,750 from the prior report, and the average declined by $14,593. Both have moved lower across the three October reports. Those movements describe changing groups of completed sales; without comparable-property analysis, they cannot establish the direction or magnitude of home-value changes.

Sold marketing times are mixed. The median increased from 101 to 110 days, while the average declined from 128.9 to 122.4. It would be misleading to describe all completed sales as moving faster or slower from those two measures.

Rolling windows overlap and change as closing dates enter and leave. Completed sales also reflect contracts negotiated earlier. The current absorption improvement is useful evidence of recent transaction flow, not a direct measure of how buyers are responding to today’s listings.

• Active Residential Listings: 223
• Listings Above $500,000: 118
• Listings Below $400,000: 77
• Median Active List Price: $535,000
• Average Active Days on Market: 310.9
• Median Active Days on Market: 281

Core county’s headline balance is unchanged from October 18: 223 active listings, 26 rolling sales, and 8.6 months of supply. The differences are within individual segments.

Below $300,000, rolling sales increased from four to six against the same 42 listings, improving supply from 10.5 to 7.0 months. At $500K–$599K, active inventory declined from 26 to 25, but the current window contains no sale, compared with one in the prior report.

The $800K–$899K band retains the lowest core supply reading at 3.7 months. The $700K–$799K band now stands at 4.7 months, up from 3.5 as its rolling sales count declined from four to three.

Median active exposure increased from 279 to 281 days. Twenty listings have been active for 90 days or less, while 60 fall in the 365-plus-day category, up from 58.

The core bedroom inventory totals are unchanged, but the distribution of rolling sales shifted. Three-bedroom sales increased from 16 to 17, while two-bedroom sales declined from eight to seven.

With 83 active three-bedroom homes, supply improved from 5.2 to 4.9 months. Two-bedroom supply increased from 10.0 to 11.4 months against 80 active listings. Four-bedroom-and-larger homes remain at 40 listings and two rolling sales, or 20.0 months.

The upper-price inventory remains substantial relative to completed activity. There are 44 core listings at $1 million or more, with one rolling sale in each of the two million-dollar price bands. Supply is 21.0 months at $1M–$1.49M and 23.0 months at $1.5 million-plus.

The unchanged core-wide reading therefore contains improved absorption below $300,000 and among three-bedroom homes, alongside thin or absent sales in other segments. The relevant comparison depends on the property rather than the aggregate alone.

The improved countywide supply reading does not mean buyers face the same competition everywhere. Core county still has 8.6 months of supply, while the resort reading is 6.9 months, and individual price bands vary much more widely.

A resort buyer at $400K–$499K is looking at 20 active listings and six rolling sales, or 3.3 months of supply. Below $300,000, resort inventory is much deeper relative to sales: 53 listings and four closings, or 13.3 months. The lower price category is not automatically the tighter one.

In core county, $800K–$899K has 3.7 months of supply, while $500K–$599K has 25 available listings and no current rolling sale. That difference is more relevant to an individual search than assuming the countywide improvement applies equally to both.

Sellers should take the better closing count seriously without treating it as permission to ignore competing inventory. Median active exposure is still increasing, and many buyers can compare homes that have been available for months.

For homeowners assessing value, the declining rolling sale median should lead to a closer look at the actual transactions. It is not a percentage reduction to apply to a property without comparable evidence.

The under-$300K band has the largest core rolling closing count, with six sales. Its supply improved from 10.5 to 7.0 months, while $300K–$399K held at 7.0 months.

At $400K–$499K, the sales count held at four and inventory increased by one, moving supply from 6.5 to 6.8 months. Not every change in supply reflects a change in sales.

The dash at $500K–$599K means no finite supply figure can be calculated from a zero-sale window. It does not mean zero inventory or that no buyer interest exists.

• Active Residential Listings: 185
• Listings Above $500,000: 92
• Listings Below $400,000: 73
• Median Active List Price: $499,000
• Average Active Days on Market: 379.9
• Median Active Days on Market: 349

Resort markets provide the main improvement in this week’s residential absorption. Rolling closings increased from 21 to 27, while inventory declined by one listing. Supply improved from 8.9 to 6.9 months.

The increase is spread across several price bands. Under-$300K sales increased from two to four; $400K–$499K increased from four to six; and $700K–$799K increased from one to three. The $1M–$1.49M count increased from one to two, while $300K–$399K declined from five to four.

The median active asking price moved from $530,000 to $499,000. That is a change in the median of available listings, not a measure of price reductions on the same properties.

Inventory age remains substantial. Median active DOM increased from 345 to 349 days, and the 365-plus-day count increased from 73 to 74. Twenty-two listings have been active for 90 days or less.

Three-bedroom resort homes account for four of the six additional rolling sales in the current comparison. Their closing count increased from 10 to 14, while active inventory declined from 62 to 61. Supply improved from 6.2 to 4.4 months.

Four-bedroom-and-larger sales increased from five to six against unchanged inventory of 45, lowering supply from 9.0 to 7.5 months. One-bedroom sales increased from two to three, improving supply from 11.0 to 7.3 months.

Two-bedroom homes did not share that improvement. Their inventory and closing counts held at 54 and four, respectively, maintaining 13.5 months of supply.

The lowest price-band supply reading is $900K–$999K at 2.5 months, but it rests on just two sales and five active listings. The $400K–$499K band’s 3.3-month reading is supported by six sales, giving it a larger transaction base. The counts behind the ratios matter.

Supply improved substantially at $700K–$799K, from 20.0 to 6.7 months, as rolling sales increased from one to three. At $1M–$1.49M, a change from one sale to two lowered supply from 11.0 to 5.5 months. Both comparisons illustrate the sensitivity of small-count calculations.

Below $300,000, supply improved from 26.5 to 13.3 months but remains substantial. The $1.5 million-plus band still has no rolling sale, despite a decline in inventory from 13 to 12 listings.

The resort-wide improvement is therefore real in the reported absorption measure, but uneven across the price ladder.

• Active Residential Listings: 408
• Listings Above $500,000: 210
• Listings Below $400,000: 150
• Median Active List Price: $530,000
• Average Active Days on Market: 342.4
• Median Active Days on Market: 319

Countywide inventory has moved only slightly across the three October reports: 410 listings, then 409, and now 408. The current decline of one listing is on the resort side.

The number of listings above $500,000 declined from 213 to 210, while the below-$400,000 count held at 150. Median active asking price declined from $535,000 to $530,000. These are changes in the available inventory’s distribution, not a record of individual price cuts.

Three-bedroom homes have the lowest countywide supply by bedroom count at 4.6 months, supported by 31 rolling sales and 144 active listings. That compares with 26 sales and 5.6 months in the prior report.

Two-bedroom homes currently have 134 active listings and 11 rolling sales, producing 12.2 months of supply. Four-bedroom-and-larger homes have 85 listings and eight sales, producing 10.6 months.

The larger closing count has improved the countywide balance, but buyers looking for a three-bedroom home face a different inventory-to-sales relationship from those looking for a two-bedroom property.

Forty-two listings have been active for 90 days or less, approximately 10.3% of residential supply. That count is unchanged across the October 11, 18, and 25 reports.

Median active DOM has increased from 304 to 311 to 319 days. Over the same reports, the 365-plus-day category increased from 130 to 131 to 134 listings. The available inventory therefore shows a consistent pattern of longer median exposure and a larger oldest-age category.

The two oldest categories currently contain 325 listings, unchanged in combined count from October 18. Within that total, the 181–365-day category declined by three and the 365-plus category increased by three. Aggregate counts do not identify the histories of individual listings.

The implication is straightforward: improved rolling absorption has not removed the large base of older available homes. Sellers still need to understand how their property compares with that competition.

• Active Land Listings: 706
• Weekly Land Closings: Not reported this week
• Weekly Land Pricing and Sold DOM: Not reported this week
• 4-Week Land Closings: 12

Land inventory remains at 706 listings, and the rolling sales table again contains 12 closings. Those totals match both the October 11 and October 18 reports.

The available inventory remains concentrated below $300,000, with 608 listings. Parcels of 1–5 acres account for 325 listings, the largest acreage group.

Some price-band counts changed even though the total did not. The $75K–$99,999 band increased from 77 to 79 listings, while $100K–$199,999 declined from 139 to 137. The $500K–$599,999 band increased by one to 18, while $600K–$699,999 declined by one to five. These net changes do not identify individual price adjustments or listing movements.

The land market remains structurally oversupplied, with 706 available listings against 12 rolling sales. The closing count by price band is unchanged from October 18.

Current readings are:

• Under $50K: 200 active listings, three rolling sales, 66.7 months of supply.
• $50K–$74,999: 106 active listings, four sales, 26.5 months.
• $75K–$99,999: 79 active listings, one sale, 79.0 months.
• $100K–$199,999: 137 active listings, two sales, 68.5 months.
• $200K–$299,999: 86 active listings, one sale, 86.0 months.
• $300K–$399,999: 31 active listings and no rolling sale.
• $400K–$499,999: 16 active listings, one sale, 16.0 months.
• Every band from $500,000 upward: No recorded four-week sale.

The $50K–$74,999 band has the largest rolling sales count, but its 106 listings still produce 26.5 months of supply. Activity within a segment does not necessarily imply limited competition among sellers.

For buyers, the selection is broad, but parcels are not interchangeable. Access, utilities, water, terrain, and permitted uses can substantially change how useful a property is for a particular purpose.

For sellers, the current totals provide little evidence of a broad reduction in competing supply. A clear property-specific comparison remains more useful than assuming the residential absorption improvement carries over to land.

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.

This edition covers October 19–25, 2026. Weekly closed-sale totals and pricing are not reported because the available weekly closing information does not establish a complete total. Their omission should not be read as a finding that no properties closed.

The corrected four-week residential count is 53. It is a rolling measure and is not substituted for the weekly count.

Comparisons refer to the published October 18 and October 11 reports. Rolling windows overlap, change as closing dates enter and leave, and may incorporate later-reported transactions. Repeated movements describe the published readings; they do not independently establish changes in comparable-property values or real-time buyer behavior.

Months of supply follows this report’s convention of dividing active inventory by corrected four-week sales as an approximate monthly pace. Figures are rounded to one decimal. A dash means no sale occurred in the segment’s rolling window and no finite supply calculation is presented.

The 29 new listings are a current-week count. No October 18 new-listing comparison is made because that figure was not reported.

Price adjustments are activity counts, not a count of unique residential sellers reducing prices or a percentage of active residential inventory.

The median list-to-sale ratio of 93.62% comes from a separate sample of 335 residential sales. Its date range is not specified, so it is not used to establish a current-week change in negotiating conditions.

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

Two active residential listings are outside the reported DOM buckets and are shown separately so the inventory-age table reconciles to 408 listings.

This week’s improvement is in completed-sale absorption, and it is concentrated in resort markets. Resort rolling closings have increased across three reports, bringing supply down to 6.9 months. Core county remains at 8.6 months, with no change in its overall inventory or rolling sales count from last week.

The available inventory has not cleared out. Countywide listings have declined by only two across those three reports, while median active exposure has increased to 319 days. Sellers still face a substantial base of established competition.

For buyers, the better absorption reading means some segments deserve closer attention, not that negotiating room has disappeared everywhere. For sellers, more recent closings provide useful evidence of activity, but the relevant evidence is still the homes comparable to their own.

The market is producing a better rolling transaction count while carrying older inventory and a lower-priced closing sample. Those facts belong together. None should be used alone to declare a broad change in home values or a uniform shift in bargaining power.