DURANGO: Yesterday we talked about the slow down in the national real estate market. In today's Durango Herald the Durango Area Association of Realtors released their second quarter statistics. The number of homes sold in Durango is down 40% from the same period last. The number of homes sold in Bayfield increased slightly reflecting the lower cost of housing in Bayfield.
The median home price in Durango continues to increase. But again, we believe, as the market cools and properties sit longer and longer sellers will adjust to be competitive. This is not all bad. It's hard to justify much less sustain a 20% to 25% increase in housing cost year after year. Sometimes the market just needs to take a breather.
http://HomesInDurango.com
http://DurangoRealEstate.biz
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