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Housing Price Trends Housing Trends
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The reader should note this office stopped keeping a single family residence database in 1999. The following information for the years 1999, 2000, 2001 and 2002 is derived, in part, from the Taos County Association of Realtors Multiple Listing Service. The reader is reminded this service only includes those sales resulting from the MLS listings.

In 1999 the median price of a home in Taos bounced around between about $151,000 and $164,000, and ended at $155,000 for the annual median. In 2000 it was lowest in the first quarter, at about $144,000 and highest in the last quarter, at about $172,000, with a price of $166,300 as the annualized median. On average it appears home prices were relatively stable to slightly increasing from 1999 to 2002. In 2001 the median price at year-end was $175,000, showing a modest increase over 2000. At the end of 2002 there was a dramatic increase to $200,000. Low interest rates have helped significantly to drive the increase of 14% since 2001. The national median home price average has increased 54% over the last decade. Taos has seen an increase of about 33% over this same period. The following chart is representative of the overall trend.

Due to the poor affordability (ratio of average family income to average home price), Taos housing is still seeing a significant demand for affordable homes, hence the steady flow of manufactured housing into the County. The census reported median household income for 2000 was $22,777, and a recent study showed subsistence level income for a family of 4 to be $37,000 in Northern New Mexico. The study included only the very basics as expense requirements not even the renting of a video was included.

For 2002 Santa Fe (combined county and city) had a median price of about $259,000, about 30% higher than Taos. In 2001, Santa Fe was about 34% higher, and in 2000, 40% higher. Taos is slowly closing the gap in home prices between these two cities.

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