The real estate market in SW Colorado has leveled off a bit in the past two years as it has throughout our region. The Durango, Colorado area continues to be a desirable area to locate due to our sunny weather (over 300 days a year on average) and our mild temperatures for a mountain community. Active retirees, and all sorts of folks wanting easy access to the many hiking, biking, skiing, boating, rock climbing, ice climbing, fine dining, and other cultural experiences available locally.
The market sales volume has dropped back to about the 2003 and 2004 levels, though recent trends seem to indicate that perhpas the decline in the number of transactions has leveled off. The sales in the $500,000 to $1,000,000 price range seem to be about what they have been for the past 3 years, so there has been some strenth in the market.
Locally, a lot of large construction projects have been completed, and others continue to be underway. A new water storage/irrigation project (the Animas La Plata Project) is a couple of years away from having water flowing out of the reservoir. The local Native American Tribe (the Southern Utes) have a large new casino and resort area under construction near Ignacio, along with their continued development of a walkable comunity near the recently completed hospital in the Three Srpings area at the east edge of Durango. Durango Mountain Resort continues with their expansion and improvements at the ski area located 20 miles north of Durango. Natural Gas development continues to be a driving force in the economy with the major player in the area, BP America leading the way. All 3 cities in the county have either built or are buidling new libraries. Tourism seems to remain strong and all these factors have contributed to our area's continued strong economy and low unemployment rate.
Feel free to call me (970-749-0995) should you want to hear about some aspect of the local economy that is of particular interest to you. Thanks, John Mankins