Hi Steve,
I just posted a market analysis on my new blog (see link below) that might answer this question in more detail for you, but in a nutshell, the number of homes that sold in Ruidoso in 2007 was down from the number sold in 2006, but property values are holding pretty steady. We have seen some price corrections on houses that were just listed too high to begin with. New construction is moving pretty quickly in most cases. It is the older homes that need some updating that are staying on the market longer. I just checked our average days on market, and it is at 179, which is about the same as it has been for the last few years. The median home price of currently listed single family homes is $249,000