This past week The Wells Group Real Estate Brokerage presented its 14th annual Real Estate Forecast discussing in depth the Durango Real Estate Market. With approximately 300 people in attendance at the Fort Lewis College Community Concert Hall, our firm, along with Bob Allen (real estate consultant and senior appraiser with Allen and Associates) gave a presentation that included video, live discussion as well as a PowerPoint presentation. This is a very in depth analysis of real estate in La Plata County where we thoroughly review what happened in 2013 and where we think we are headed in 2014. Since we have done this for a number of years, we can show the trends and the directions that the various markets are going.
One of the major points of discussion was the lack of inventory in the price range that is the most active. Specifically, homes under $450,000 close to, or in Durango, are in short supply. Basic economics 101 says that when inventory is low that prices will rise. That is certainly one of the predictions that we have made for 2014 in that particular price bracket. Projected population growth, employment rates, building permits taken out, the health of our “feeder markets”, tourism traffic, inventory levels by price brackets over time are just some of the items presented and discussed. New inventory coming online this year is also presented.
If you are interested in viewing the video of the presentation and downloading the entire PowerPoint presentation, please drop me an email requesting that and I will send you the login page URL and the password to give you access. Please email me at Rick@BuyDurango.com and put “2014 Real Estate Forecast “ in the subject line.
Buying Durango real estate, whether it be Durango homes for sale, Bayfield homes for sale or vacant land in the Durango area can be a daunting task. Team Lorenz is very experienced and can help guide you through the entire process whether it is a first-time home purchase or your 10th purchase.
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