Friday, April 20, 2012

WE'RE #1

Policom, an independent economic research firm specializing in local and state economies, did an analysis that ranked Durango No. 1 out of 576 micropolitan areas studied.

A micropolitan area contains a population of 50,000 or less.

Data used for the study included not just Durango, but all of La Plata County.


The number of La Plata County homes sold in the first three months of 2012 increased compared with the same period last year, while prices have continued to fall, according to the latest local real-estate statistics. The report from the Durango Area Realtors Association showed the median home prices declined in most parts of the county compared with the first quarter of 2011. Durango condos and Bayfield in-town homes saw a price drop of a bit more than 10 percent while prices on resort condos dropped 38 percent from $250,000 to $155,000. Prices increased for Durango in-town homes, Bayfield county homes and undeveloped land. In Durango, the median price for a home was $329,950 for the first quarter of 2012, a 1.52 percent increase compared with the same period in 2011. In Bayfield, the median home went for $171,000, a 10.66 percent decline from the first three months of 2011. Across the board, the number of homes sold last quarter was up compared with the same period in 2011. Homes sales in Durango and Bayfield as well as Durango country homes increased 60 percent or more. Countywide, the number of properties sold increased by an average of 27 percent compared with the first quarter last year. It appears that historically low interest combined with depressed Durango housing prices are enticing buyers back into the market. We've seen an increase in 2nd home buyers; mainly from Texas, Oklahoma and New Mexico. As the Phoenix market rebounds, this segment of our market will continue to improve. If you're thinking of purchasing a home in Durango - NOW IS THE TIME!