Durango Real Estate Sales Statistics-YTD 2013

By
Real Estate Agent with Team Lorenz

Durango Real Estate Sales Statistics-YTD 2013

Residential real estate sales dollar volume in La Plata County increased by 33% during the 1st 9 months of this year compared to the 1st 9 months of last year. The average sales price, however only increased by 1.77% to $342,802. The median sales price for the same timeframe rose 2.7% to $308,250. The 1st 9 months of this year saw 799 homes sell in La Plata County (that would be the cities/towns of Durango, Bayfield, Ignacio and Hesperus) compared to just 608 last year for the same timeframe. I track the sales to list price percentage for every transaction and last year La Plata County homes sold for 94.6% of their last asked price while this year the market firmed up and homes sold for 96.08% of their last asked listed price. That is an improvement that would benefit the seller, of course.

In addition to looking at the total market, I divide up all sales by $200,000 increments and I have that chart posted on my website at the following link: Durango Real Estate Sales Statistics 2013  In that chart I not only thoroughly analyze the sales by price brackets, but I also analyze the sales by where the buyers purchased (Durango in town, Durango rural, Bayfield in town, Bayfield rural and properties near the ski area). All of my Durango real estate sales statistics analysis include this year compared to last year for the same timeframe. This is an exceptionally good tool to review whether you are a buyer or a seller. Since many of our buyers come from different parts of the country where “lots of negotiating” goes on between the asking price and the final sales price, we can look by every price bracket for an extended period of time and see exactly how much negotiating really occurs. For instance, in the $200,000-$400,000 price range homes sold this year for 97.15% of their asking price compared to last year at an even 96%. There just isn’t much negotiating when you have a property in that price range.

I have been doing these charts every quarter for many years so it is very easy for me to look at the statistics and get a good pulse on the market and help show you the trends. This research is time-consuming however it is so helpful to our clients. If you would like this type of service please give us a call (970-375-7007) or visit our website    BuyDurango.com

Comments (2)

Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Rick...Nice market report for the Durango. I'm glad to hear sales are up. We are seeing a market improvement, but not as high as you are seeing.

Oct 20, 2013 11:12 AM
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

excellent report to share with your buyers and sellers in your local market!

Oct 20, 2013 11:49 AM