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Durango Area Real Estate Statistics
As you can see in the links below, Durango and the surrounding area has a very diverse real estate market. Since the recent economic recession, the La Plata County and Durango real estate markets have followed that recession trend, but the market has not been impacted as badly as other regions in the country. While sales volumes and transaction numbers have slowly slipped since 2005, there has been some rebound in real estate transactions, median sale price and market volume since 2009. An interesting article printed in the local paper describes the current Durango Real Estate Market.
Median sale prices of homes in Durango are still high reflecting the endurance of home value in the Durango area. In-town Durango homes have held their value better than regions in the United States.
Certain aspects of our economy are on the rebound which will positively impact the Durango real estate market. The oil and gas industry is doing well, Durango-La Plata County airport has become the regional hub for air traffic and Durango's strong tourism mean good news for the local economy.
Low mortgage rates, low payments and high inventory make the Durango Area a buyer's market. Foreclosures, while an unpleasant reality, can come as an opportunity to the shrewd buyer looking to get a home on clearance. For first time home buyers who missed last year's tax credit there are still many options. The local Regional Housing Alliance (www.rhalpc.org) is helping people in La Plata County every day. There are FHA and USDA loans available for qualified buyers. Other non-profits exist as well to fill the gap such as Habitat for Humanity of La Plata County (www.habitatdurango.org) and Colorado Houseing Inc.(www.coloradohousinginc.com).
No matter your budget or level of interest, Durango and its surround area offers many opportunities in real property, from residential to commercial, vacant land to resort condo timeshares.
The charts below are from the Durango Area Association of Realtors.
Median sale prices of homes in Durango are still high reflecting the endurance of home value in the Durango area. In-town Durango homes have held their value better than regions in the United States.
Certain aspects of our economy are on the rebound which will positively impact the Durango real estate market. The oil and gas industry is doing well, Durango-La Plata County airport has become the regional hub for air traffic and Durango's strong tourism mean good news for the local economy.
Low mortgage rates, low payments and high inventory make the Durango Area a buyer's market. Foreclosures, while an unpleasant reality, can come as an opportunity to the shrewd buyer looking to get a home on clearance. For first time home buyers who missed last year's tax credit there are still many options. The local Regional Housing Alliance (www.rhalpc.org) is helping people in La Plata County every day. There are FHA and USDA loans available for qualified buyers. Other non-profits exist as well to fill the gap such as Habitat for Humanity of La Plata County (www.habitatdurango.org) and Colorado Houseing Inc.(www.coloradohousinginc.com).
No matter your budget or level of interest, Durango and its surround area offers many opportunities in real property, from residential to commercial, vacant land to resort condo timeshares.
The charts below are from the Durango Area Association of Realtors.
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