A condominium is synonymous with a condo, and is described as real property, either residential or commercial, where there is an individual ownership interest in the living area (or occupied area in the case of a commercial condo), and an undivided common interest in the common areas. The common areas of a condominium would typically include the land, parking areas, exterior structure, internal or exterior common hallways or stairways, etc. It might be compared to apartment type living where you actually own the apartment in which you are living.
There are usually condominium fees associated with condo ownership to cover the costs of maintenance of the common areas. Costs such as exterior building maintenance, utilities for exterior lighting and/or heating or cooling of the common areas, grounds maintenance, parking area maintenance, snow removal, pool maintenance, etc. would be included in the condominium fees and would be appropriately apportioned to each condo owner based on their ownership interest in the condominium complex.
Condominium ownership is ideal for those looking for low maintenance living. It gives the same advantages as home ownership, with typically the same tax advantages that apply to real property ownership also appling to condo ownership.
In the Taos New Mexico area, there are numerous condominium projects. The following table gives some statistics for the various areas in and around Taos that offer condominium living.
Taos New Mexico Condominium and Condo Real Estate Market Stats - Jan thru Dec 2007 |
|
Highest Price |
Lowest Price |
Median Price |
Average Price |
Condos
Sold |
Condos
Available
on Jan 1
2008 |
Area: |
Taos New Mexico |
| Sold Price: |
$ 574,000 |
$ 58,000 |
$ 256,000 |
$ 253,545 |
73 |
110 |
| Sold $/Sq Ft: |
$ 427 |
$ 94 |
$ 244 |
$ 252 |
|
Area: |
Taos Ski Valley |
| Sold Price: |
$ 815,000 |
$ 190,000 |
$ 302,430 |
$ 348,661 |
27 |
74 |
| Sold $/Sq Ft: |
$ 740 |
$ 221 |
$ 341 |
$ 391 |
|
Area: |
Angel Fire |
| Sold Price: |
$ 299,000 |
$ 36,500 |
$ 135,000 |
$ 146,154 |
13 |
39 |
| Sold $/Sq Ft: |
$ 198 |
$ 102 |
$ 124 |
$ 135 |
|
Area: |
Red River |
| Sold Price: |
$ 137,500 |
$ 41,500 |
$ 75,000 |
$ 83,800 |
5 |
12 |
| Sold $/Sq Ft: |
$ 125 |
$ 75 |
$ 93 |
$ 97 |
|
The above data was compiled from the TCAR MLS system. While the data is believed to be accurate, it is not guaranteed.
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Click here for additional Taos Real Estate Market Statistics and Trends information.
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If you are interested in looking at any of the condominium properties available in the Taos New Mexico area, you can click here to perform a Taos MLS Search on your own, and then under "Residential Listings" use the pull-down selection option to select "Condo" under type, and enter any other criteria pertinent to your search. Then if you see anything you would like more information on, contact me and I will try to answer your questions or get you the information you request.
Or if you prefer, contact me with your search criteria and I will search the Taos MLS for you, and then email you the full listing details and photos for any condominium or condo properties matching your criteria.
