Comparative Durango Real Estate Statistics 2016-2017 Full Year
Total La Plata County residential sales in 2017 increased by 3.54% over the 2016 sales figure. Average price stayed almost exactly the same, but the median price rose 2.74%. Total number of units sold in 2017 equaled 1,131 compared to 1,092 in 2016; that’s an increase of 3.57%. Units currently available for sale took a slight increase, which is good because we are inventory-challenged. I think the number that jumps out at me the most is the sales price to last listed price percentage. In 2017 it rose all the way to 96.86% of the sellers’ last asking price compared to 95.78% in 2016. The other number that kind of jumped out at me was in the $800,000-$999,999 price category where there was an increase in the number of units sold of 65% compared to 2016.
The vast majority (83.91%) of the number of units sold were between $200,000 and $800,000, however from $600,000 and up (to over a million dollars) showed significant improvement going from 151 units sold in 2016 all the way up to 179 units in 2017. As we see prices rising in Durango we see the number of units below $200,000 decreasing both in sales as well as units currently available. With the price of land and all of the infrastructure requirements plus planning department fees, it makes it less and less likely that we will see any improvement in that price range. There was actually a decrease of 14.05% in the number of units sold this year compared to 2016. What do all these numbers mean to you? We would be happy to discuss them in greater detail and try to review trends in your particular price bracket. Please give us a call.