Every month the Durango Area Association of REALTORS® puts together key statistics for our local real estate market. By reviewing these numbers, we can reflect on the activity and see what’s happening in each market segment and as a whole.
La Plata County saw 109 new single family listings in July 2022 which is down 11% from July 2021. Sales are 21% lower at 83.The median and average sales prices for this year so far have increased, now sitting at a median of $673,450 and an average of $836,778. Townhomes also saw a slight drop this July with 38 new listings and 30 sales. Median and average prices still rose from July 2021 and 100.6% of the list price has been received this year.
Durango had about half of the new single family home listings with 14 in town and 49 rural. The 14 in town was 33% less than July 2021 and a 60% drop in sales with only 6. However, the year to date median sales price is $629,743, up 8% and the average is up 17% at $868,451. Over 100% of the list price was received and despite less new listings, the months supply of inventory is now 2.4, up 85% which is beginning to balance out the buyer/seller market. There were similar trends in the in town townhome market with decreased new listings and sales, elevated median and average sales prices, over 100% list price received, and a slight increase in months supply. Rural Durango had less activity than July 2021 but still 49 new single family home listings and 32 sales. The average price for the month was $1,059,694 with 99.4% of the listing price received. Additionally, there were 9 new townhome listings and 8 sales with a median sales price of $565,500 for July 2022.
Bayfield saw an all around increase this July in single family listings and sales activity with 13 listings and 10 sales in town, and 21 listings with 19 sales in rural parts. The in town median sales price for the year is $470,000 which increased 21% from last year. The months supply of inventory has doubled from July 2021 to July 2022. Rural sales prices have increased from 2021 as well, now with a median of $545,250 and an average of $612,692. Ignacio had a total of 3 new single family listings with 1 in town and 2 rural. 4 sales in rural Ignacio increased the year to date median 25% to $447,500.
With this encouraging market activity so far, we are looking forward to seeing what the rest of this year has in store. Please let us know if you have any questions; we would love to discuss our La Plata County Real Estate market and assist in any way.
- for Deven Meininger