3rd Quarter Real Estate Statistics

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The La Plata County residential real estate market is active, but home sales are down 6% from last year through the first three quarters.  After years of double digit increases in number of homes sold, the market has reached a peak, and now shows a slight decline, while remaining one of the best years since the top of the market in 2005 & 2006.  The strength is evident when the median price is evaluated; this year, the market has shown a much faster appreciation, with a 9% increase year to date, following the 3.5% increase last year.  The Durango market leads in the highest median price in the County, with homes In-Town having a median price of $390,000, and Durango Country homes have a $391,450 median price.  The largest increase in value was Durango Condos & Townhomes with a 17% increase in median price, but the mix of condos versus townhomes impacted that higher median price; more condos were sold last year, and more townhomes (higher values) were sold this year.  The median price for Bayfield In Town homes was basically flat for homes less than ten years old, so the median price impact of -6.75% was in the older neighborhoods.  The inventory for homes throughout the County is dropping following the heavy seasonal home sales during the summer and early fall.  Homeowners in-town or in-town like neighborhoods may want to have their home on the market in the winter and early spring to meet the needs for buyers during those market times.