Every month, the Durango Area Association of REALTORS releases compiled statistics reviewing the past month’s and year’s real estate market activity, allowing us to follow trends and look at key statistics in our local area.
La Plata County as a whole had an increase in single family home activity from May 2021 with 129 new listings and 91 sold listings. The median price is now at $750,000, up 31% from May 2021, and the average is $872,004, which is 36.5% higher. However, there was a .8% decrease in the percent of list price received from May 2021 to 2022. The inventory has also increased about 14%, improving the month’s supply of inventory to 2 months. Year to date, there have been 437 new listings and 306 sold listings. The 2022 median price so far is $677,250 compared to the 2021 median price of $550,000. Townhomes have had 37 new listings and 23 solds in May with a median price of $365,200.
Durango in town only saw 17 new listings in May compared to rural Durango with 58. There were also 16 in town sales and 44 rural sales. The median prices for intown and rural are similar, both in the high $700,000. The averages are close as well around $950,000 for the month of May. Year to date, in town Durango has seen 76 new listings and 54 solds with 103.3% of the list price received. Rural Durango has had 180 new listings and 142 sales with exactly 100% received. The median price year to date for in town townhomes is $462,500 while rural ones cost about $80,000 more.
Bayfield has had an increase in activity in May 2022 with 35 listings and 25 sales. In 2021, there were only 21 new listings and 20 sales. The median prices have increased to $465,000 for intown and $597,500 for rural. Ignacio also had some activity in May with 6 new rural listings and 1 sale. There has been 23 total new listings in Ignacio this year as well as 16 sales. This shows a good increase in activity in a more rural community!
We hope that these number break downs give you insight in the current market and where it may be headed. Please don’t hesitate to reach out with any questions.
- for Max Hutcheson