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Durango Real Estate Sales Statistics-YTD 2011

By
Real Estate Agent with Team Lorenz

Durango real estate statistics for the first 6 months of 2011

I have written about Durango real estate statistics for the first 6 months of 2011 but in that analysis I was looking at various price brackets and not by geographic areas of the county.  (See previous blog.) In order to fully understand Durango real estate sales statistics one needs to look at what areas are, and are not, selling and whether or not there is a trend that can be seen. In this review, I will talk about January 1 through June 30 only for the years 2008, 2009, 2010 and 2011, even though I may say sales for 2008 were X I'm only referring to the first six months sales for the appropriate years.

Countywide Homes Sold: For all of La Plata County residential sales the last four years statistics were as follows: in 2008 there were 337 units sold; in 2009 there were 219 units sold; in 2010 there were 310 units sold; in this year that number jumped to 318 units. You can see that we are not quite back to the 2008 levels over nearly 100 units over what sold in 2009. The median price countywide dropped slightly from $337,000 in 2008 to $307,000 in 2011.

Durango in Town Homes:  For homes located within the city limits of Durango, there were 70 homes sold in 2008 with a median sales price of $405,000; in 2009 that figure dropped all the way down to 35 homes; in 2010 we saw a recovery 253 homes sold; and in 2011 we got back to 70 units sold with a median sales price of $365,364. It is good to see that the number of in town units has come back.

Durango Country Homes: For homes outside the city limits of Durango and not within the city limits of Bayfield or Ignacio, there were 91 units sold in 2008 with a median sales price of $490,000; in 2009 the median price dropped drastically to $360,000 and 61 units were sold; in 2010 we saw a uptick in units selling 286 units with a median price of $375,500; and then in 2011 the median price dropped once more to $325,000 with 77 units selling. Clearly that market has been up-and-down and I think the decline this year was brought on by the high gasoline prices and people wanting to live closer to town.

Durango Condominium Sales: This market segment is also up and down like a yo-yo. In 2008 there were 92 units sold with a median sales price of $233,750; in 2009 sales dropped to half of that down to just 45 units with the median price increased to $270,000; in 2010 units went back up to 83 sales but the median price came down a bit to $267,500; 2011 saw a decrease in both number of units sold down to 62 units and the median sales price dropped $242,450. The low median sales price in 2008 could be attributed to the condominium conversion complex located up by Fort Lewis college that had a large number of transactions that year in the $100,000 to the low $200,000 price range.

To get an even better picture of the Durango real estate market and Durango real estate statistics, I will refer you to several previous charts and I have prepared. Here are links to several of those:

Durango Real Estate Statistics 2008 versus 2009

Durango Real Estate Statistics 2009 Versus 2010

Durango Real Estate Statistics 2010 Versus 2011 

When making what is typically the single largest transaction in a person's lifetime, it's important that you have good representation and someone to guide you through that process. All of us at Team Lorenz are here to help you and guide you through that task. We have a combined years of experience succeeding 40 so there's not a lot that we have not run into during that time. Experience does matter, so please give us a call at 970-375-7007.

Comments (1)

John Watson
Century 21 LAD Realty - Aptos, CA
Santa Cruz Real Estate (831)428-3296

Very good information.  I love Durango!

Jul 23, 2011 05:25 PM