Angel Fire, New Mexico Continuing to Set New Real Estate Records Despite Pandemic

Category: Real Estate Matters Real Estate Matters
Published: 28 July 2020 28 July 2020

ANGEL FIRE, NM – (July 28, 2020) – In a time of social distancing the appeal of a small mountain town with wide open spaces and stunning views is increasing. Angel Fire, New Mexico, located high up in the Sangre de Cristo Mountains, is seeing a jump in real estate sales thanks to families looking for the outdoor lifestyle and realtors who have changed how they do business to accommodate them during this global pandemic.

Longtime Angel Fire Broker, Mike Woolley, RE/Max Mountain Realty, explains.

"Once the shelter-in-place orders came, we quickly realized we would have to re-think how we could show and sell houses. We also weren't sure what interest we would see from buyers. Traditionally April and May are a bit quieter because the ski season has wrapped, but this year things were busier than we initially anticipated."

By offering live video tours of homes, drone videos of the neighborhoods, and zoom calls from the properties to answer direct questions from buyers, Woolley and his team saw a significant uptick in their homes and condos sales even when most of the country was still in lockdown mode.

Angel Fire is a year-round resort village that offers downhill skiing in the winter and boasts some of the top mountain biking trails in the southwest in the summer. This 'hidden gem' is one of the rare locations that are seeing a large increase in single-family homes and condo sales during the global pandemic. Home sales are up 14% and condo sales are up 3% year over year, with several dozen additional homes and condos currently under contract.

The increase in sales during the pandemic continues as part of a trend that started in 2016. Angel Fire set a record that year for the most single-family homes and condos ever sold in the village's history. With interest increasing every year, by 2019 Angel Fire was one of New Mexico's most successful real estate markets and dubbed "America's Most Affordable Ski Town" by Realtor.com and ranked a Top 25 "Best Family Ski Resort in North America." But when the shutdown of COVID-19 began in early March, most realtors weren't sure what to expect.

"We were fortunate to have started the showing process to several buyers during the winter who were ready to make their buying decision in late spring. Additionally, by being able to work directly with buyers and sellers via video and online, we never had to slow down and could continue to help those wanting to move to Angel Fire find their piece of the mountains," Woolley stated.

Dallas-based resident, Kary Ehlmann, closed on her vacation home in Angel Fire in June. "Angel Fire is absolutely stunning. First selling point to me is the amazing weather and no crowds. The cool, quiet summers are an especially nice respite from the Texas heat and traffic. If you want to truly experience the outdoors, it's here in Angel Fire."

Approximately 60% of second home buyers in Angel Fire are from Texas. However, this summer several of the buyers are from New Mexico, Oklahoma, and Arizona just looking for an easy-to-drive-to getaway.

"Angel Fire offers a lot in the way of natural beauty, outdoor recreation and plenty of wide-open spaces. With only one blinking light in the village, one of the things homeowners appreciate here is the lack of crowds, and the ability to spend time exploring the 1.5 million acres of forest that surrounds them," Woolley added.

Every segment of the market is showing strong growth. In the past few months more moderately priced homes, those under $500,000, sell quickly. While homes in the $550,000 - $1M range make up a small segment of the market, they too are selling faster with an average of 320 days of the market, compared to last year's 357 days.

The average median price in Angel Fire hovers around $300,000, but there's been a slight decrease in these moderately priced homes in the past 12 months. With a growing demand for more properties, Woolley sees the rest of 2020 tapped perfectly for a seller's market.

"There's little indication that the buying trend will be slowing anytime soon. Now the question is, do we have enough inventory for the demand?" adds Woolley.

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