March CAR Numbers

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Good news came out earlier this week; the Governor announced that starting Monday April 27th in person showings will be allowed again. They will be issuing more detailed rules around the showings and what other services will be allowed: i.e. photos, videos, etc. We will post those as soon as they are issued; we are expecting that on Sunday or Monday.

This week, we have the latest real estate numbers for La Plata County for the month of March. The below charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In Town, Durango Rural, Bayfield In Town, Bayfield Rural, Ignacio In Town, Ignacio Rural, Vallecito, and Durango Mountain Area.

These charts indicate the statistics and key metrics for single family homes and townhouses/condos, including new listings, sold listings, median sales price, and more. They compare March 2020 to March 2019. We also see the rolling 12-month median sales price for single family homes and townhouses/condos in these segments. We always appreciate these charts to be able to spot trends within our local market and compare results to previous years.

La Plata County single family homes had a strong March, as we expected. There were more new listings, more sold listings (a 48.9% change from the total sales in March of last year), and a higher median sales price. Year to date, we see the same trend: more new listings, more sold listings, and a higher median sales price compared to through last year at this time. The La Plata County townhouse/condo market had a bit slower month compared to the single family homes. There were fewer new listings (by one), and fewer sold listings, but the median sales price increased compared to March 2019. Year to date, we see the same trend: fewer new listings and sold listings, but a higher median sales price.

Durango in town single family homes had more new listings, but fewer sold listings and a lower median sales price compared to March 2019. Year to date, in town single family homes had more new listings and sold listings, but a lower median sales price compared to through last year at this time. The Durango in town townhouse/condo market had a strong March with more new listings, more sold listings, and a higher median sales price compared to March 2019. Year to date, there were fewer new listings and sold listings, but a higher median sales price.

Durango rural single family homes had more new listings and more sold listings in March 2020 compared to March 2019, but a lower median sales price. Year to date; however, there were more new listings, more sold listings, and a higher median sales price compared to through March of last year.

Bayfield in town single family homes had a strong March with more new listings, sold listings, and a higher median sales price compared to March 2019. Year to date, there were more new listings, sold listings and a higher median sales price compared to through last year at this time. Bayfield rural single family homes had more new listings and more sold listings, but a lower median sales price this March compared to last March. Year to date, there were more new listings, sold listings, and a higher median sales price compared to through last year at this time.

Overall, we are still seeing strong real estate results through March. As we have noted, many of these transactions were already underway prior to the Coronavirus concerns. However, the new listings activity is a good sign, as it puts inventory on the market. The real estate industry has worked to find creative solutions to allow home selling and purchasing to continue, so please let us know if we are able to assist. As always, let us know if you have any questions, and take a look at these charts for more information!

 

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