Durango Colorado Real Estate Statistics 2010-2011
Tracking Durango Colorado real estate sales statistics is certainly an important aspect of my job as the Team Leader for Team Lorenz. Those of you that follow me regularly, know that every three months I do a careful year-to-year comparison of the Durango residential sales comparing the current year to the same time period the year before. In addition the analysis is broken down by $200,000 increments so that a buyer or seller can pretty carefully review what's going on in their particular price range. Not only do I study where did they buy (Durango in town, Durango rural, Bayfield in town, Bayfield rural and or resort condos/SFH) we also analyze days on the market, sales to list price percentage, number of units sold, number of units available, absorption rate and the number of cash sales. This is done for every price range and compares 2011 results to the 2010 Durango residential real estate sales results.
The entire analysis set up in a fairly easy-to-read Excel spreadsheet form is located on my website and you can look at it at the following link:
Durango Colorado Residential Real Estate Statistics 2010-2011
I will mention several of the highlights here, but please take a look at the above analysis so that you can get a thorough understanding of our market. Also, I would be happy to discuss with you any of the figures and where I think we are trending, so please feel free to give me a call.
Highlights: Total La Plata County (including Durango, Bayfield, Ignacio) residential sales increased by 10.7% in 2011. The median days on the market dropped slightly from 155 days in 2010 to 137 days in 2011. The list to sales price percentage stayed the same and 92.9%. The biggest change was in the number of units available for sale. At the end of 2010 there were 900 units available for sale but on January 3 there were only 694 units available, a significant decline. That means that inventory is being gobbled up in the price range that saw the biggest decline in inventory was the $200,000-$400,000 price range where it went from 400 units available at the end of 2010 down to only 276 the end of 2011. The area with the most sales happens to be Durango in town , where 107 units sold in 2010 then it jumped to 156 units in 2011.
if you are a Realtor reading this blog, you should be preparing an analysis similar to this for all of your clients. This is such a useful tool that I laminate them every three months and they go on the wall by each of my team members for quick reference. If you are a buyer or a seller, then your Realtor ought to be sharing something like this with you.
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