More Durango Real Estate YTD Statistics

Our Board of Realtors compiles the statistics in a little different way than I do. Whereas I sort all of the residential properties by incremental price ranges, our Board compiles the data based on where the properties are located. Homes in the city limits of Durango, homes in the city limits of Bayfield, homes in the Durango ZIP code but outside the city limits, etc. I'm sure you get the idea.

In looking at this data here are some of the statistics comparing the first six months of 2010 to the first six months of 2009 using the Board of Realtors compiled statistics. For Durango in town homes, the median price in 2010 was $335,000 which represented a 5.6% decline from 2009. Total dollar volume for those homes actually increase by 55% and the number of units sold increased by 51%.

For homes in the Durango ZIP code but outside of the city limits, the median price was $375,000 which represented an increase of 4.31% compared to 2009. Total dollar volume for that classification increased by 70% in the number of units sold increased by 40% when compared to 2009. Homes that sold, stayed on the market longer with the average days on market in 2010 being 244 days.

The Durango condominium market saw a slight decline in the median price are went from $270,000 in 2009 down to $267,500 in 2010. Last year 45 Durango condos sold in the first six months of the year whereas this year 83 of sold representing an increase of 84% in number of units sold. Average days on the market also increased from 231 days last year to 260 days this year.

Parcels of vacant land from 1 to 10 acres in size continue to be a slow part of the market. Last year 12 units sold in this year it jumped 15 in the first six months. For the properties that did sell this year the average days on the market changed pretty significantly. Last year it took 417 days to sell up tractable land this year only 278 days. The median price dropped 19% from 2009 to 2010. In 2009 median land sale price was $142,000 and this year it dropped to $115,000.

Real estate is a complex business and while it's possible to get caught up in the numbers too much, I think it's important to be able to look at the figures and come to some conclusions on what the trends might be. If you would like additional information on more Durango real estate sales statistics, please feel free to give me a call or drop me an e-mail and I'll see what I can do to answer your questions. A well-informed client is the best client to have.