Every month the Durango Area Association of REALTORS (DAAR) releases compiled numbers for La Plata County and specific areas within the county. For the first month of the year, 2022 had an overall decrease in activity compared to January 2021.
Durango in-town saw 50% less listings and sales for single family homes. However, for the seven sales, the median price was $679,025 which is $133,900 more than January 2021. With over 100% of the listing price received, you can see how minimal inventory has affected homes on the market: quick sales at elevated prices. Townhomes/condos follow similar trends – low inventory, higher sold price, and less days on the market.
Rural Durango also had less activity than January 2021. However, there were still 19 listings and 19 sales, increasing the median sales price to $714,327 from last year’s $610,950. There is 32% less inventory of homes and months supply, making active listings command a higher price. Rural townhomes had some activity with three new listings and five sales at a median price of $610,000. That’s 135.5% higher than January 2021. There is currently zero inventory and therefore zero months’ supply.
Bayfield had listing and sales activity in January with two single family listings and two in-town sales, and 12 listings and five sales in the rural areas. Prices have also increased since last year, sitting right around $400,000 as compared to $340,000 in January 2021. There was no townhouse/condo activity. Rural Ignacio had two new listings and three sales this January. The median price has increased 42% to $460,000. There is still limited inventory driving quick sales and a 71% increase in average sales price.
Overall, La Plata County single-family homes had about 35% less activity that January 2021. As a whole, the median sales price was $664,500, up 21%, and the average was $965,675, 6% more than last year. The inventory of homes has dropped from 165 to 85, making just one month’s supply available.
Please reach out if you have any questions about the real estate market and how we can help.