Every month the Colorado Association of REALTORS® (CAR) releases statewide real estate statistics and key metrics so we can review past trends and try to see where the market is headed. In March 2022, there were 9,390 new single-family listings. The year has now totaled 21,545 new listings, of which just 195 were in La…
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“Colorado Homes Showed 32% Overall Price Appreciation in 2021 New Coloradoans and the state’s stay-at-home orders during the pandemic have combined to form an unprecedented amount of growth in home values and scarcity in 2021, according to CAR’s 2021 Year-End Market Trends Report. The overall median single-family home price across Colorado went up 32% between…
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It is apparent that the state of the current real estate market is unprecedented. It has been shaped by supply shortages, major increases in building costs, and the Covid-19 pandemic, causing prices to rise and bidding wars which are leaving buying disappointed. But, does this mean that we are in a bubble just waiting to…
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The Colorado Association of Realtors provides us with an overview of the month in comparison to the previous years and April’s numbers are here! Overall, La Plata County was up 47% from April 2020 with 84 single family home sales. Townhouse/condo sales were also increased by 8 homes from 2020. More properties are entering the…
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The current demand for housing is high and the supply does not create the balance we have seen in years past. In fact, Zillow noted that in February 2021 the number of homes for sale were down 30% from February 2020. In retrospect, that is about a 26% larger decrease than we saw between 2019…
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Do you have an extra room in your house? Or maybe you are looking at investing in a rental property? Here is some insight to Colorado and La Plata County’s short-term rental (STR) regulations. A STR is defined as a privately owned unit or room being rented for less than 60 days at a daily…
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The tale of supply and demand continues and who will come out as the hero? New home construction to the rescue! During the winter month’s new construction took a break as cold weather made that decision mandatory in some areas of the country. Now as spring arrives and the weather is warming so is the…
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This week we have the La Plata County residential real estate transaction numbers through the month of March. Residential sales continue to set record highs and the question remains, how long will this trend continue with the lack of inventory we continue to encounter? Bob Allen stated in this year’s Wells Group Forecast, this year…
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According to an article in Realtor Magazine, home shoppers this spring have 52% fewer homes to choose from than last year. For every 10 homes for sale last year, there are fewer than five today. We are finding this trend applicable to our market as well. At this time there are 33 in town Durango…
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We are excited to share The Wells Group’s 21st Annual Real Estate Forecast https://www.youtube.com/watch?v=2P7EE-VI5lk . This year’s format looked different than previous years with the forecast going virtual, making it accessible to watch from the comfort of your home. This yearly event compiles data and predictions for the La Plata County real estate market and…
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- for Max Hutcheson
