The real estate market for the Questa area has seen an uptick in homes sold and sales price. Year-to-date 2019 to 2020 saw an average sale price of $149,000 and year-to-date for this year saw a 24% increase in the average sale price rise to $194,000.
Property values are definitely on the move. We are seeing out-of-state buyers in the Questa area looking for vacation homes and others seeking primary residences away from the congestion of Taos. I have had properties come onto the market and go under contract within a week!
Questa definitely offers something that neither Taos nor Red River can offer in regard to affordability and larger parcels of land. Taos has become congested with ever increasing prices while Red River lacks large parcels of land; there is little private land, and it is surrounded by National Forest.
Our office has received multiple inquiries about Questa and Cerro land and homes from many who have never been to the area. I have received full-price offers from buyers: obviously, I would never recommend that someone buy a house sight unseen, but it does go to show what a buying frenzy this market has turned into.
People are looking for changes in their lives and are looking toward northern New Mexico for affordability and greater quality of life. With the Questa area offering a multitude of recreational opportunities and room to grow, I expect the trend to continue, although I do expect the frenzy to subside, especially if interest rates rise.