25% Increase in Average Sales Price since 2015
Durango real estate prices have certainly seen some changes in the last couple of years. I recently did a study of Durango real estate sales statistics for Durango in-town homes sold during 2015 and 2016 and 2017 (not counting Three Springs Subdivision is that is all newer construction).
Using the data from the Durango Association of Realtors MLS system, I learned that the average sales price in 2015 was $337,770 while in 2017 that average sales price was $423,301 which represents a 24.9% increase in average price over that timeframe. One of the interesting things to note is the fact that the number of homes sold has stayed pretty constant: 319 homes sold in 2015; 329 homes sold in 2016; and 316 homes sold in 2017. Remember these are just in-town Durango homes exclusive of Three Springs.
When reviewing these numbers you realize that the vast vast majority of these are “used or re-sale homes” so the data is not thrown off because of a large number of newly constructed homes in one particular price range (like in Three Springs). If you’re thinking about selling, perhaps this is a great time for you to give us a call. If you’re thinking about buying, I guess I would say “What are you waiting for?” Please give us a call, we are here to help: 970-375-7007