Most of the communication we send to our clients revolves around La Plata County residential real estate. However, commercial real estate is a notable portion of La Plata County Real Estate. Max is involved with the Rocky Mountain Commercial Brokers—a group that meets quarterly to “collectively provide in-depth, local knowledge and experience to commercial real estate investors who are looking to buy or sell commercial properties in Colorado” (https://rockymountaincommercialbrokers.com/).
This group is an excellent way to keep a pulse on the commercial end of real estate, both local and state-wide. We want to share Durango commercial numbers and trends with you from November 2018
There was a Commercial Real Estate sales volume of $30.5M with 43 transactions YTD (at that time) in 2018, up 5% compared to sales January-October 2017, with 31 transactions worth $29M. Additionally, Residential Real Estate sales for $431M YTD (at that time) in 2018 were up 4.4% compared to sales January-October 2017, at $412M. Sales Taxes were up 8.1% YTD compared to taxes collected January-October 2017. New commercial real estate development projects include a 198-unit residential apartment complex near completion.
As these numbers indicate, commercial real estate has a strong presence in Durango. We look forward to tracking commercial real estate through 2019! We are available to discuss these numbers or any questions you may have regarding commercial or residential real estate. For further local and statewide commercial residential real estate details, take a look at the RMCB website: https://rockymountaincommercialbrokers.com/durango-market-update-november-2018/. Also, we will be hosting two open houses this weekend: 515 Confluence from to 1:30-3:30 and 2027 Kingfisher from 10-12. We’d love you to stop by and say hello!