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    2017 Year End Real Estate Market Report – Angel Fire, New Mexico

    The ski season is in full swing and the new year is upon us, so the team at Chisum Realty Group is taking some time to reflect on 2017 and the ever changing Angel Fire Real Estate market.  Here’s what we found.

    ANGEL FIRE HOMES

    Graph of Homes Sold for the Angel Fire, NM 2017 Real Estate market report by Chisum Really Group

    The chart below breaks down the number of homes sold from 2013 through 2017.

    Chart of the Homes Sold for the Angel Fire, NM 2017 Real Estate market report by Chisum Really Group

    The chart below breaks down the number of homes on market as of December 31st of each year.

    Chart of the number of Homes for sale for the Angel Fire, NM 2017 Real Estate market report by Chisum Really Group

    Angel Fire, New Mexico, which also includes Black Lake, wrapped up the year with an overall 15% increase in the number of homes sold over 2016. While 15% may seem unimpressive to the massive 48% spike we saw in 2016, any increase following 2016 is something to celebrate. This continual increase in buying activity over the last 2 years is moving Angel Fire from a Buyers’ market to a balanced market, just as we had predicted a year ago! To help break down this data, lets separate home sales in Angel Fire into two simple price points, under $500,000 and over $500,000.

    The under $500,000 price point makes up 87% of the home sales in 2017 and is the meat and potatoes of the market. In this price range we saw a 30% increase in home sales combined with a 23% decrease in inventory. This leaves Angel Fire, as of January 1, 2018, with a 9 month supply of homes on the market, establishing the under $500K price range in a balanced market! If we continue to see inventory shrink and demand increase, we’ll likely see prices increase. Vacation markets, like Angel Fire, are considered balanced with a 10-12 month supply. Prices are stable during a balanced market, increase with low inventory and decrease with high inventory. Winter months are low inventory times due to the seasonal nature of Angel Fire. We’ll be watching closely to see how many homes enter the market during the spring listing season. We expect to see a balanced market for the remainder for 2018.

    The $500,000 to $1,000,000 home sales were down 35% over 2016, while over $1,000,000 home sales were up 50%. We also saw a slight increase in the number of homes over $500,000 entering the market. With inventory up and sales down, homes above $500,000 are currently sitting around a 3.7 year supply.

    ANGEL FIRE CONDOS

    Graph of the number of condos Sold for the Angel Fire, NM 2017 Real Estate market report by Chisum Really Group

    The chart below breaks down the number of condos sold from 2013 through 2017.

    Chart of the number of Condos Sold for the Angel Fire, NM 2017 Real Estate market report by Chisum Really Group

    The chart below breaks down the number of condos on market as of December 31st of each year.

    Chart of the number of Condos for sale for the Angel Fire, NM 2017 Real Estate market report by Chisum Really Group

    The condo market saw an overall increase in units sold of 20% over 2016, with a 26% decline in sales under $90,000 and a 58% increase over $90,000.  With the increase in inventory, condos are at a 14.6 month supply in inventory which is a Buyers’ market. History shows that this over supply will put downward pressure on condo prices this year.

    Looking outside of Angel Fire, we’re still seeing our feeder markets booming in the bullish US economy. Additionally, with the recent federal tax reform, wealthier Americans will see less of a tax burden in the years to come, providing more available capital. This will hopefully lead to more families looking for a mountain getaway in beautiful Angel Fire, New Mexico.

    For details about how this data affects your purchasing or selling goals, please call Chisum Realty Group, at 575-613-1810. If you would like to receive our bi-annual real estate market report by email, please visit chisumgroup.com/sign-up/.

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    © 2018 Chisum Realty Group. Not for duplication and distribution without written consent from Chisum Realty Group by calling 575-377-2321. All real estate market data provided by TCAR MLS.

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    4 Responses to “2017 Year End Real Estate Market Report – Angel Fire, New Mexico”

    • D0nna Capps

      Written on

      Do you handle any land sales? I have a lot in Chalets4 #130 which I have listed for sale several times, with no
      response. I have paid off the PID and do not like to continue making resort dues . My husband has passed away and I have not used any amenities for 16 years.

      Reply
      • Tara Chisum

        Written on

        We specialize in residential real estate and don’t handle land sales. Monte Verde Realty is a good resource for land and their number is 575-377-2344. I’m terribly sorry to hear of the loss of your husband. All the best to you.

        Reply
      • Tara Chisum

        Written on

        There is approximately a 10 year supply in land sales which creates a Buyers market. We specialize in residential real estate. Monte Verde Realty is a good resource for land and their number is 575-377-2344.

        Reply

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