After hearing all the doom and gloom about the national real estate market, I was curious enough to look into our local market statistics. Thus far, we in the Durango area, are still selling property of all types. A quick look at year to date tells me that nearly 50% of properties sold were under $300,000 and about 25% were above $500,000. Commercial opportunities were just about 4% of those sold, while many residential units sold were condos. We've had a snowy winter, and lots of people visiting our local ski resort, Purgatory, have contributed to condo sales at the resort itself. But our market also has a good supply of lower-priced units in town Durango now, and these seem to be actively selling.
While no one knows how much impact the new Federal loan regulations will have over the year, we all are hopeful for an active spring and summer sales season. Meanwhile, our office is planning upgrades in marketing and services to help us work smarter in an ever-changing market. I look forward to being more efficient and hope it will also lead us to increasing our effectiveness in serving our clients - read: SALES!
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