Condo Report                                         

 Don A. Borgeson – borgi@angelfirenm.us

Updated June 10, 2008

Large unit trend - $100,000 & up

           Units  avg sale price  avg cost/ft  avg Days on Market  avg %of list price

1998    8              126,000             77.18              433

1999    13            132,461             90.70              253

2000    19            129,873             90.20              344                          95%

2001    13            140,004           102.85              260                          96%

2002    18            126,950             99.08              517   1,316 sq ft     95%

2003    32            148,856           111.06              313   1,751           96% *2 not rptd

2004    25            138,826           114.33              420   1,428           95% *2 not rptd

2005    54            162,986           127.39              314   1,289           97% *7 not rptd

2006    45            158,471           132.26              237   1,153           95% *10 not reported

2007    30            155,236           138.94              243   1,244           94%   *7 not reported

2008    17            176,265           144.62              479                       96%    *4 not reported

                          1997   1998   1999   2000   2001  2002   2003   2004   2005   2006

$50k & under  30%      17%    14%       10%    15%    14%     12%     10%      8%       1%

$50-$80k           41%      60%     48%      37%    44%    44%     45%     34%    24%     12%

$80k & up        29%      23%     38%      53%    41%    42%     43%     68%    66%     87%

A survey of units sold over the last four years indicates that the predominant  sale period for condos is between August and January. Significantly fewer sales are made February through June.

                          1999       2000        2001      2002       2003       2004      2005         2006      2007

 low sale       $  30,000    $38,000   $30,000   $39,000   $20,000   $ 32,000  $35,000     $50,000    $35,000

 median sale $  62,000    $81,000   $75,000   $72,500   $79,250   $ 85,000  $98,000   $120,000  $118,500

 highest sale $207,500 $237,500 $188,900 $189,000 $249,000  $183,000 $335,000  $252,000   $299,000

There are currently 125 condominiums listed at an average price of $279,974 at $227.58  per foot.  Average days on market is 375. The lowest price listing is $49,000 - The median listing price is $215,000 - The high listing price is $717,000

If the soon to be completed 44 unit Grande Condominium project is removed from the listings – 85 units – a peak sales season level, are currently on the market. These units average $178,208 average list price and $158.18 per sq ft. market time is 388 days. Sales for 2007 were 47 compared to 83 in 2006, a 43% decline.  The Taos condominium market was down 26% during the same time period.  The Santa Fe condo market has declined 28%

Four new construction condominium projects have been approved by the Village of Angel Fire Planning & Zoning Commission. Proposed sale prices per unit are expected to be above $300,000. Only one project is under construction at this time. Two of the projects are in pre-construction foreclosure.

Condo Sales

Year  #Sold  Avg.Sale Avg. Cost/Ft  Gain/Loss P/Ft  Days on Mkt.% of List

1997     66        $73,780        $71.30         +$7.88    +11%          237

1998     79        $71,325        $70.46         - $0.84       -1%          422                 94%

1999     64        $79,211        $75.84         +$5.38       +7%         385                 94%

2000     57        $88,347        $83.27         +$7.43       +9%         422                 95%

2001     58        $84,757        $81.46          -$1.81        -2%         456                 95%

2002     75        $82,555        $82.62         +$1.16       +2%         517                94%

2003     94        $95,311        $94.78       +$12.16     +13%         505  94%*8 not rptd

2004     82        $92,486        $97.34         +$2.56    +2.6%         425  95%*10not rptd

2005   121      $118,457      $117.09       +$19.71     +17%         421  97%*26not rptd

2006     75      $130,512      $126.59         +$9.50       +8%         253  97%*20not rptd

2007     47      $126,415      $136.77                                            204  93%*16 not rptd

2008     33      $196,982      $169.70                                             377  95% *11  not rptd