Your Market Update for Springtime in the Durango Area:
(Scroll through for my summary of the data:)
We are seeing moderate to strong growth in median sales prices year over year from 2017 to 2018, but the lack of inventory continues to cause supply issues in La Plata County.
County wide, real estate prices as a whole showed a 2.8% increase in prices from the same period in 2017- with total sales very similar to last year. In-town Durango prices experienced a ‘whopping’ 32.3% increase in median sales price, but this is in direct correlation to the lack of inventory — the total number of sales was down 9%. Rural Durango properties showed an increase in the median price of 13.5%, but the number of sales again was down. Bayfield, both In Town and Rural showed large gains in median prices, but the numbers of sales was down substantially.
Please let us know if you have any questions, or would like more information about any specific areas.
If you are thinking about selling, now is a great time. Rates are still low, prices are up, and inventory is sparse. I would be glad to offer a free- no obligation market analysis of your home. Please just call or email me.
If you are thinking about buying, I can help you identify good deals in any neighborhood.