Preliminary Durango Real Estate Sales Statistics-Year End

By
Real Estate Agent with Team Lorenz

The following statistics are for only La Plata County and include the towns of Durango, Bayfield, and Ignacio. These are residential real estate statistics only and do not include vacant land or commercial.

It usually takes about a week or so after the end of the year for everybody to get their “solds” reported to the MLS. I thought I would do just a real quick check and see how 2013 compared to 2012. The preliminary numbers are pretty interesting, to say the least.

Total residential real estate sales in La Plata County increased by 32% in dollar volume from $285 million in $2012 to $377 million in 2013. Number of units sold increased by 33% going from 778 homes/condos all the way to 1036 this past year.

The average sales price increased by 7% to $364,709. While the median sales price increased by 4% to $310,000. The average days on the market for all the homes that sold this past year dropped by 10%, down to 173 days.

One of the more interesting and troubling statistics is the number of residential units currently available for sale which now stands at 596 units a decrease of 10% compared to the end of 2012. That decrease in supply together with the increase in number of units sold will almost certainly indicate a rise in price in 2014.

I will have my much more detailed analysis broken down by $200,000 price brackets later this coming week.

Comments (2)

Kristi Knutson
Kirkland, WA
Blog Trainer ☂

These end of year sales statistics must take a while to put together, Rick, but are so useful! Thanks for sharing, have a great day :)

Jan 08, 2014 11:27 PM
Rick Lorenz
Team Lorenz - Durango, CO
REALTOR Emeritus, CRS, ABR, CyberStar, CNE, E-Pro

Actually, it is not nearly as long as you might think to do. Obviously, the chart is done in an Excel spreadsheet format, but what you don't see is that we use formulas to do the totals, percentages etc. It does take a bit of tweaking each time, but I would say between me and my admin it takes maybe 5 or 6 hours to do. We do these 4 times per year so we actually have to have 4 separate spreadsheets because the formulas for absorption rate (and I'm sure some other things without really looking at the chart below carefully) would change.
Is a very good listing tool is also especially good when working with buyers who want to offer 70% of the asking price while the average over 400 sales is 95% of asking price. The

Feb 01, 2014 11:40 PM