The real estate market for the Questa area has seen an uptick in homes sold and the average price per sale. Year to date 2019 to 2020 saw an average sale price of $149,000 and year to date for the current 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 also many people in search of primary residences away from the congestion of Taos.
Questa definitely offers something that Taos nor Red River can offer in regards to affordability and larger parcels of land. Taos has become congested with ever increasing prices while Red River lacks large parcels of land due to the fact that there is little private land and is surrounded by National Forest.
I have had properties come on the market and gone under contract within a week. I have also received full price offers from buyers who have never even been to Questa. Obviously I would never recommend someone buy a house they have never seen but it does go to show what a buying frenzy this market has turned into.
Our office has received multiple inquiries about Questa and Cerro land and homes from many who have never been to the area. 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.