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March 2022 Market Snapshot

Here is a snapshot of the real estate activity for March 2022. Compared to February, the number of homes sold increaded from 33 to 47 and inventory increased from 36 homes to 43 new homes added for sale. Mortgage rates took a big jump and for the first time since November 2018, the rate for a 30 year fixed mortage is above 5%. The graphic below provides the number of homes sold, number of new homes for sale, their current list to sale price ratios, the year to date median sale price and the current mortgage rate. These number represent all single family homes in the Enchanted Circle of New Mexico which includes Angel Fire, Taos and Red River. Data was captured on 4/08/2022 from TCAR MLS and If you have any questions about the New Mexico real estate market, please contact us!

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