It’s hard to believe that we’ve already entered the last quarter of 2026. Looking at the La Plata County residential real estate market to date revealed some expected and some new trends. Collecting data such as active, pending, and sold listings; average and median sold prices; and days on market allows us to compare month-over-month (MoM) and year-over-year (YoY) statistics. Whether there are patterns or changes, this information helps keep us and our clients informed about the local market.
September Sales:
September 2026 Total Sales: 82
August 2026: 72 - 🠅 13.89%
September 2025: 99 - 🠇 17.17%
Year-to-date Sales: 690
2025: 662 - 🠅 7.99%
2024: 644 - 🠅 12.8%
Decreased August sales, an unexpected trend line, was quickly turned around with 82 sales in September, which is more on par albeit less than prior years. As we enter the slower fall season, year-to-date (YTD) sales are still higher than 2025 due to the busy first half of 2026. Given the increase in available homes for sale we had anticipated a stronger third quarter, but higher interest rates appear to have had other plans. Looking ahead over the next couple of months, we don’t expect sales to bounce back up into the hundreds primarily due to interest rates. On an optimistic note, while the fall tends to slow down, it is still a good time to buy and sell.
Inventory:
Active Listings: 550
August 2026: 580 - 🠇 5.17%
September 2025: 434 - 🠅 26.73%
Pending (under contract) Listings: 104
August 2026: 92 - 🠅 13.04%
September 2025: 119 - 🠇 12.61%
This was the first decrease in MoM active listings that we've seen this year since January, which started with just 284. Another important statistic to note is that there are over 100 more listings YoY. This change in total available inventory has shifted the market as a whole into more of a buyers market. We determine whether the market is a buyer's or seller's market by calculating the months of inventory available for sale. This statistic is calculated by taking the current number of active listings and dividing it by the prior year’s average number of homes sold per month. Historically we have said that six months of inventory is a balanced market. Less than six months indicates a seller's market and more than six months indicates a buyer's market. Currently we are at 7.5 months of inventory/supply. When you combine that with mortgage rates over 7% it helps explain why we are seeing fewer pending listings YoY which we expect to continue into the fourth quarter.
After seeing record-low inventory for several years, the growing inventory is certainly welcomed by buyers. For sellers, the situation can be different: more inventory can lead to more buyers looking, but it can also lead to downward pressure on prices. Even though we have two factors that generally lead to lower prices—higher inventory and higher interest rates—the greater Durango area’s real estate values appear to be holding up.
Price Trends:
Average Sales Price: $887,781
August 2026: $874,910 - 🠅 1.47%
September 2025: $862,440 - 🠅 2.94%
Median Sales Price: $725,000
August 2026: $725,000 - no change
September 2025: $670,950 - 🠅 8.06%
The average sales price increased slightly MoM and YoY, generally due to a larger volume of higher priced sales that influence the average more than the median. This is supported by the median sales price, which did not change MoM despite the average sales price increasing by nearly 1.5% MoM. Below, we will examine the price category breakdowns, which more closely depict the increased luxury sales alongside healthy movement in the sub-$1,000,000 price ranges.
It’s also important to note the number of price reductions occurring. This reflects the importance of accurate pricing from the list date, as the market ebbs and flows. At the beginning of the year when interest rates were closer to 6%, we didn’t see as many reductions; however as the rates grew and surpassed 7%, the number has gone up significantly. Buyers' purchasing power decreases by 10-11% for every 1% increase in the interest rate. Looking at the median sales price mentioned above that would represent over $70,000, which is significant for both buyers and sellers.
Time on the Market:
Average Days on Market: 107 days
August 2026: 105 - 🠇 2 days
September 2025: 96 - 🠅 11 days
Median Days on Market: 76 days
August 2026: 71 - 🠅 5 days
September 2025: 70 - 🠅 6 days
Days on market have stayed relatively consistent MoM, despite the changes in sales numbers. YoY, the market is a little slower which is to be expected given the market factors we mentioned above. La Plata County real estate continues to be in demand, and we expect the days on market to continue to increase, but only slightly. It will likely just take a little longer to sell a home than in recent years.
Trending Price Ranges:
$200,001 - $400,000
69 active listings
15 pending
99 sold YTD
$400,001 - $800,000
186 active listings
48 pending
292 sold YTD
$1,000,000+
81 active listings between $1,000,001 - $1,500,000
39 active listings between $1,500,001 - $2,000,000
85 active listings over $2,000,001
23 $1,000,000+ pending listings
178 $1,000,000+ listings sold year-to-date
Most notably, the evergrowing $1,000,001+ categories now represent almost 37% of the active listings and 26% of sales. There is a strong median range market ($400,001 - $800,000) that accounts for 34% of active, 46% of pending, and 42% of sold listings. The higher ratio of pending and sold to active listings further shows the activity in this range. However, the luxury market continues to move even with 7%+ interest rates as 50%+ are cash buyers which are not affected by interest rates.
As we all know in both sports and business: a lot can happen in the fourth quarter. We are excited to see what happens in the last quarter this year, and I am sure by the end of it, we will have a lot to analyze and learn about the La Plata County real estate market. We always look forward to providing the best local knowledge and guidance. We are grateful to call this corner of Colorado home and to help others do the same. We understand life can get busy around the holiday season and hope that you have time to enjoy it! For more information on buying or selling Durango real estate, please contact The Durango Team at The Wells Group.
