STATISTICS: The Durango Area Association of Realtors just completed its statistics for the 3rd quarter of 2007.
The total number of residential home sales for In-Town Durango increased slightly by 1%
compared to the same period in 2006, while In-Town Bayfield saw a decrease in units sold of 20%.
Average days on market for In-Town Durango increased by 1% to 133 days as compared to the
same period in 2006 and In-Town Bayfield decreased 17% to 115 days.
The condo/town home market experienced a 30% decrease in the number of units sold in both the Durango and Resort markets over the same period last year. The median price decreased for Durango units to $230,000 with average days on market of 90 days down from 239 same quarter last year.
The Resort market experienced a 30% decrease in the median price to $177,750 with
average days on market increase of 85% to 283 days.
average days on market increase of 85% to 283 days.
The median price for a La Plata County country home stayed consistent at $379,450 in comparison to the previous quarter. This is an increase of 11% from the same period in 2006. The number of units sold is down slightly while total volume increased 3%.
While our market has slowed, it is important to note that only the condominium market has experienced a draw-back in prices; understandable due to the rapid price appreciation over the last two years and the number of units available.
Compared to the major real estate markets across the country our little piece of the world 1s doing quiet well.
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