The Durango Area Association of REALTORS (DAAR) compiles monthly reports reviewing La Plata County and individual town’s listings, sales, prices, and more. With these statistics, we can evaluate the current market and potentially where it’s headed.
La Plata County as a whole had 58 new single-family listings in February 2022. This was slightly down from 2021’s 70 listings. With less available properties, there is a decrease in sales. 2021 had 55 compared to 2022’s 39, a 29% decrease. However, supply and demand principles show that as supply is limited and demand adds pressure, the value of sold properties increases. There was a $150,000 increase to the median price from February 2021 to 2022 and the average grew $340,500; that’s over 50%. Townhouses/condos saw similar trends with less new listings and a large increase in median and average prices. In all categories, the days on market until sale has decreased as the months supply of inventory drops even lower.
Out of La Plata County’s 58 new listings, the Durango area had 38 of them. Out of the total 39 sales, Durango area had 26 of them. Most of this activity was in rural areas. But all sale prices increased: Durango in-town median rose $80,000 and the average $140,000 while Durango Rural median price grew $270,000 and the average $185,500. Durango townhome activity also increased in price although with similar median and average sitting right around $620,000.
Bayfield saw some activity in February with 4 new in town and 11 new rural listings. Overall, six sales in town sold for a median price of $456,500 and the six rural sales had a median price of $603,500, both showing an increase of 47% from February 2021. There were two townhomes listed, but zero sales. Ignacio had 2 new single-family listings in the rural area with no sales. With those listings, the months supply decrease 62% from February 2021.
Despite the decrease in activity, the La Plata County Real Estate market continues to evolve daily. Please don’t hesitate to reach out with any questions.