Home Sales & Home Prices Both Showing Upward Trend in Durango, La Plata County
Things are heating up with the Durango real estate market, as recently released numbers from the Durango Area Association of Realtors are showing increases in both sales and home prices all throughout La Plata County.
In fact, La Plata County saw the highest number of residential real estate transactions in the first quarter of 2016 over the last 4 years, as well as a 12 percent increase in the number of homes sold. In addition, the median home price, which was recored at $324,500, is also slightly higher than its 2006 level, which was previously considered to be the height of the market.
Prices for in-town homes in Durango are also on the rise, with single-family in-town homes averaging around $425,000. It is worth noting, however, that total sales for in-town properties are actually on the decline, down roughly 5 percent from last year, which is largely related to a lack of inventory rather than lack of demand for such properties.
Simply put, it’s a wild time for Durango real estate and whether you’re thinking about making a move or selling your existing home or condo in town, it seems there’s no better time to act than the present. So for information about the Durango real estate market, give me a call today discuss all your home buying or selling goals in today’s red hot marketplace!