The Durango Area Association of Realtors provides us with monthly reviews of the activity in La Plata County. With these statistics, we are able to identify trends and key metrics in the real estate market.
La Plata County saw a 35% decrease in new listings and a 30% decrease in sales from October 2020; last month, there were 78 new single-family home listings and 96 single-family home sales. The median price barely moved at $582,500 while the average still increased to $779,526 from last year’s $668,864. With a 50% decrease in inventory, the 29% decrease for days on the market reflect the offset supply and demand. Year-to-date, there have been 1,022 single-family homes listings trailing October 2020’s year-to-date by 74 properties. With 844 sales, there have only been 3 less than this time last year. The median price has risen to $578,750 and the average price is up to $708,279, both about 20% higher than October 2020. 1.9% more of the list price has been received, now just .3% below 100%. Townhomes have been selling even faster with 57 days on the market in October and 71 year-to-date. Both of these numbers are about 30% less than last year. In October 2021, there were 25 new townhome listings and 33 sales with a $475,000 median sales price and $497,285 average. Just over 100% of the listing price was received.
Durango saw just over half of the county’s single-family listings with 10 in town and 40 rural. 11 single-family homes were sold in town at a median price of $649,900, at 100.6% of the listing price received. 43 rural homes sold at a median price of $694,900, just .9% shy of 100% of the asking price. Year-to-date, there has been 178 in town listings, 40 in the mountain area, and 492 rural. There were 158 sales in town, 39 in the mountain area, and 410 rural. The median sales price for in town and rural is just around $650,000 compared to last year’s $564,000. Townhomes in town are a rare commodity in the rural and mountain areas with 5 listings, 18 sales, a 17.5% median price increase, just 59 days on the market, and a 77.5% drop in inventory.
Bayfield in town has seen an increase in activity from last October while Bayfield rural has seen a slight decrease. The single-family in town home median price is now $350,000, an 11% increase over October 2020. Rural Bayfield saw a 15% median sales price increase to $472,500. Rural Ignacio saw a 25% increase in new listings and a 75% increase in sales in October. The median sales price rose 15.5% for the month and 24% year-to-date. We love to see this positive movement in the market!
Please don’t hesitate to reach out with questions about the real estate market or La Plata County.