IS THE BUYER'S MARKET DONE?

Looking back at 2012 we see that, as the year progressed, so did home sales. The number of La Plata homes sold in the second half of the year exceeded fist half by about 20% and the median price increased 3% topping out at $304,950 by year's end. Overall, 834 properties sold in 2012, 16% more than in 2011.

The Colorado Association of Realtors also released statewide data showing a median price increase of 10% compared to 2011 together with a 15% increase in the number os sales. Sellers appear to be on the sidelines waiting for prices to increase thereby decreasing available inventory. Escalating sales volume, increasing home prices and decreasing inventory can only lead to this conclusion; the buyer's market is rapidly ending.

If Durango real estate is in your future, now is the time to act.

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