2023 turned out to be a year of retrenching. Compared to 2022, sales were down markedly, with the number of sales and the dollar volume down in all categories of property. In all but a few cases, sales were below last year’s in every month. For the total market (all categories of property), the number of sales was down 28%; dollar sales were down 31%.
The Taos real estate market has cooled off from the super-hot conditions of 2020-2022—but it is still strong! Read more to learn what’s happening with prices, inventory, days on the market, and more.
The Taos real estate market has cooled off from the super-hot conditions of 2020-2022—but it is still strong! Read more to learn what’s happening with prices, inventory, days on the market, and more.
The market peaked in the third quarter of 2022, and then cooled from the frenetic pace that started in mid-2020.
Buyers seemed to be pausing to determine what would happen with interest rates and the probability of a recession. There are still more buyers than sellers, but market activity is less intense.