DURANGO REAL ESTATE NEWS

By
Real Estate Agent with RE/MAX Pinnacle

DURANGO - Statistics for the 2nd quarter have been released by the Durango Area Association of Realtors and, as expected, they indicate our real estate market continues to suffer from the nationwide housing slowdown.

The median sale price of Durango homes dropped 12 percent from $405,000 to 355,000. The number of sales fell by half, from 70 to 35. Homes in the La Plata county also saw declines. The median price of sold properties dropped 16 percent, from $344,975 to $288,300. The number of sales fell from 127 to 102.

With prices declining and favorable interest rates it appears some buyers are coming back into the market. We have been busy. The American Recovery and Reinvestment Act of 2009 expanded the first-time homebuyer credit to $8,000, providing some incentive to stimulate real estate sales.

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