The Taos County housing market continues to operate as two separate markets with very different absorption speeds.

The core county market remains the center of real transaction activity, while the resort markets continue to carry a large share of inventory with slower turnover.

At the county level, supply remains elevated and continues to expand relative to demand. This keeps overall conditions firmly in buyer-favoring territory, even as individual segments show very different behavior depending on price, location, and property type.

Countywide Residential — Active Listings: 499

4-Week Sales: 12

Months of Supply: 41.6

This remains a high-inventory, slow-absorption environment, where buyers have leverage and sellers must price with precision.

• Buyer leverage remains elevated due to sustained inventory levels

• Demand is present, but selective and uneven across segments

• Price reductions are increasing, indicating growing seller pressure

• Inventory continues to age, with a large portion of listings sitting beyond 90 days

This week recorded 6 total property closings, including 4 residential sales and 2 land transactions.

Forward activity held steady with 57 under-contract listings in the weekly snapshot, while the broader pending pipeline stood at 110 listings once "Pending Please Show" and contingent statuses were included.

The market added 23 new listings, while 20 properties reduced price and 8 listings expired, reinforcing the ongoing adjustment between seller expectations and buyer behavior.

Hot list activity reached 102 properties, showing that buyers are actively watching inventory, even if conversion into closed sales remains measured.

Activity

Closed Sales (Residential): 4

Closed Sales (All Classes): 6

New Listings: 23

Pending Contracts (Under Contract): 57

Total Pending Inventory: 110

Price Adjustments: 20

Expired Listings: 8

Withdrawn Listings: DATA_UNAVAILABLE

Hot List Properties: 102

Pending activity should be understood as a rolling snapshot of listings currently under contract, not a measure of new weekly demand.

This week's pipeline includes:

- Under Contract (UC): 57

- Pending Please Show: 51

- Buyer's Sale Contingency: 2

Total Pending Inventory: 110 listings

By Market Area

Most pending activity remains concentrated in the core county market, where the majority of full-time housing demand exists, while resort markets account for a smaller share of active contract activity.

By Property Type

Interpretation

The pending pipeline remains heavily weighted toward residential properties, which represent the majority of active buyer engagement.

At the same time, a large portion of the pipeline consists of listings that are still being shown or carry contingencies, meaning not all pending inventory reflects fully committed transactions.

This reinforces the need to view pending counts as pipeline size rather than confirmed forward sales.

Median Sale Price: $777,000

Average Sale Price: $634,375

Weekly Price Range: $141,000 – $842,500

Median Days on Market: 69

Average Days on Market: 75.3

Pricing Interpretation

This week's median came in above the four-week trend, but that move is driven by a small sample size (4 sales) rather than a confirmed upward shift in pricing.

The relatively low days on market suggest that the homes that did sell this week were well-positioned relative to current demand, even as broader inventory continues to move slowly.

Total Residential Closings (4 Weeks): 12

4-Week Median Sale Price: $623,250

4-Week Average Sale Price: $636,398

4-Week Median Days on Market: 163

4-Week Average Days on Market: 198.8

Interpretation

The rolling view continues to show a disciplined, selective market.

Homes are selling — but typically after longer exposure and with stronger alignment to buyer expectations on price and condition.

Active residential inventory in the core county market currently stands at 286 listings.

Listings priced above $500,000 account for 150 homes (52%), while 98 homes (34%) are priced below $400,000.

Median Active List Price: $532,000

Average Active Days on Market: 179.2

Median Active Days on Market: 138

Two- and three-bedroom homes continue to dominate the middle price tiers, particularly between $300K and $700K, where most full-time housing demand is concentrated.

Larger homes remain clustered in higher price ranges, while lower-priced inventory remains limited and skewed toward smaller properties.

Interpretation

The most active segments of the core market currently sit in the $300K–$399K and $600K–$699K ranges, where supply is relatively tighter.

Above those ranges, inventory expands and absorption slows significantly.

Active residential inventory across Taos County now stands at 499 listings.

Listings above $500,000 account for 256 homes (51%), while 183 homes (37%) are below $400,000.

Median Active List Price: $525,000

Average Active Days on Market: 200.6

Median Active Days on Market: 146

Approximately 34.9% of active listings have been on the market less than 90 days, meaning the majority of inventory represents longer-exposed supply.

This reinforces the current pattern: homes are selling, but only after meeting buyer expectations.

The land market remains the most supply-heavy segment.

The largest concentration continues to sit in the Under $50K price band, with strong clustering in 1–5 acre parcels.

Lower-priced land dominates the market, but absorption remains slow relative to supply.

This report uses a broader and more accurate definition of active inventory, including multiple active-status categories.

Pending contract data remains unreliable for forward-looking interpretation, with approximately 40.4% of listings showing closing dates already in the past.

Pending counts should be treated as pipeline presence, not immediate closings.

This is not a collapsing market.

It is a high-supply, selective market where:

- buyers have leverage

- sellers must compete

- and outcomes depend heavily on pricing discipline

How many homes sold this week?

A total of 6 properties closed across all property classes, including 4 residential home sales and 2 land transactions.

What is the median home price right now?

The median residential sale price for the week was $777,000, based on 4 closed home sales.

Because weekly sample sizes are small, this number should be viewed alongside the 4-week rolling median of $623,250 for a more stable picture.

Is the market going up or down?

The market is not clearly trending up or down based on one week of data.

Instead, it is best described as stable but selective, with pricing outcomes heavily dependent on how well a property aligns with current buyer expectations.

Is Taos a buyer's or seller's market right now?

Taos is currently a buyer-favoring market overall, driven by elevated inventory levels and slower absorption.

That said, conditions vary by price band and property type, and well-positioned homes are still selling.

What does "months of supply" mean?

Months of supply measures how long it would take to sell all current listings at the current pace of sales.

At 41.6 months of supply, the market is operating with significantly more inventory than demand, which increases buyer leverage.

Why does pending activity not always match closings?

Pending figures are a rolling snapshot of listings currently under contract, not a weekly count of newly accepted offers. They can include fully under-contract listings, properties still being shown, and contingent deals, so pending volume should be read as pipeline size rather than pure new demand.

Why does this report show more inventory than other sources?

This report includes multiple active-status categories that are often excluded from simplified inventory counts, such as Active Price Change, Active BOM, and Active Extended.

This produces a more complete view of real competing supply in the market.