The Durango Area Association of REALTORS® compiles La Plata County real estate metrics from past months and years in order to compare trends and help predict where the market is going.
In November, La Plata County experienced a decrease in activity from November 2021. There were 9.5% less new single family listings and 47.9% less sales. The median sales price increased 8% but the average decrease 19%. We saw less of the list price received, but still 99%+ has been received throughout the year. The days on market are starting to increase each month while the months supply of inventory has increased 80% over the past year. Year to date, there have been 957 new single family listings which is a 10.6% decrease and 724 sales is a 22.9% decrease. The year to date median is $671,304 and the average is $853,890, both up about 14% from 2021 in La Plata County. Townhome/condos saw a greater decrease in activity with just 309 new listings this year, a 21.4% decrease, 20.6% less sales year to date as well. The median price rose 8.4% to $464,722 and the average increased 20.7% to $560,712.
In town Durango only had 3 new single family listings in November, a 25% decrease from November 2021. Sales have gone down with just 10 in November 2022 and an overall 21.6% decrease for the year. Durango rural properties had a 23.8% decrease in new listings and 38.1% decrease in sales compared to November 2021. Year to date, the rural median price is up 14.4% to $775,000 and the in town median $755,000 which is 16.2% higher than 2021. The rural average is $966,788, up 17.6% with the in town average just 15.4% at $877,782.
Bayfield saw 13 new single family listings with 8 of those in town. In town November 2021 only had 4. Year to date, there have been a total of 246 new listings and 181 sales. The intown median price is $451,000 which is a 13% increase from last year. The rural median is $543,500 which is a 22.1% and almost $100,000 more than intown. 99%+ of the list price was received with less days on the market and the months supply of inventory growing. Ignacio had 2 new listings and 3 sales in November 2022. In 2022, there have been 9 new listings and 10 sales in town which is very similar to last year. However, the rural activity dropped about 36% in listings and sales. Year to date, the rural median price is $463,000, up from $359,000, and the in town median is $197,500, a 16.7% decrease from 2021.
2022 has experienced residual changes from the boom we saw in 2020 and 2021, and we are eager to see how the market moves in to 2023. Please reach out to us with any questions you have about the La Plata County real estate market.
If you would like the full set of data, please let us know.