May brought spring flowers as well as an interesting real estate market. Every month the Durango Area Association of Realtors provides a breakdown of key metrics to our La Plata County area real estate activity. We will be looking at May 2021 activity versus May 2020 as well as year to date statistics.
In La Plata County, there have been 120 new single-family listings making a total of 467 since January 1, which is 7 less for the month but 5 more for the year. Of course, with the booming market, we see a 29.5% sold listings increase for the month creating 355 year-to-date sales. The month’s median and average sales prices dropped $20,000 from last month but still remain about $150,000 more than last year. Days on the market and inventory to stay lower than years past. Townhouse/Condos follow similar trends with an increase in sales, higher median and average sales prices, less days on the market, and a lack of inventory.
Properties with a Durango address, including in-town and rural, make up 83 out of 120 new single-family listings and 66 out of 79 homes sold. Durango’s median/average sales prices increased for the month and year sitting at around $750,000. In-town sellers received 102.5% of the listing price in May.
Bayfield brought 5 new single-family homes and 1 new townhouse/condo to the market in May and 5 properties were sold for a higher median/average sales price than 2020. While there was no activity in Ignacio this month, the small town remains at 3 new and sold listings this year.
We would love to talk with you more about the everchanging real estate market and help you if you would like to enter it as a buyer or seller!