La Plata County Real Estate Market Update: July 2017

Durango Real Estate Market Update: July 2017Local housing data from the month of July was recently released by the Durango Area Association of Realtors, and according to the numbers, single-family home sales in La Plata County dropped from 99 to 74 sales year-over-year, representing over a 25% decline.

Townhouse and condo sales on the other hand jumped over 33%, as did attached inventory, which registered an 8.6% increase from 2016 to 2017.

Not surprisingly, home prices for both single-family homes and condos and townhouses continued to spike, with the median sales price for single-family homes jumping from $350,000 to $436,265, and the median sales price for condos and townhouse increasing from $240,900 to $291,750.

Despite rising prices, however, existing inventory in every category throughout La Plata County continues to dwindle. According to the latest report, single-family homes dropped from an 8.9 months supply to a 7.7, and condo/townhouse inventory fell from a 5.7 to a 4.9 months supply from July 2016 to July 2017.

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