June 23, 2018

Open House & Ice Cream Social

Join us to celebrate our new office and meet our growing team. Our new office is located at 6 First National Place, just off of North Angel Fire Road. Look for our big red sign and we hope to see you there!

When: June 16, 2018 from 1:00 pm to 4:00 pm

Chisum Realty Group, Keller Williams
6 First National Place
Angel Fire, NM 87710

RED Day

Chisum Realty Group, a Keller Williams Company, have chosen to “Give Where They Live” as part of RED Day, the company’s annual day of service, dedicated to renewing, energizing, and donating to their local communities.

When: June 7, 2018 from 9:00 am to 1:00 pm

Where: Angel Fire Garden Club

As part of the RED Day effort, Chisum Realty Group has chosen to spend the day with the Angel Fire Garden Club on N. Angel Fire Road on Thursday, June 7, 2018 from 9:00 am to 1:00 pm. Join our team, or at least give us a wave, as we work in the medians to pull weeds and plant flowers for the summer.

2017 Year End Real Estate Market Report

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.vThis leaves Angel Fire, as of January 1, 2018, with a 9 month supply of homes on the market, establishing the under $500,000 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/.