CAR Numbers May 2020

This week, we have the latest real estate numbers for La Plata County for the month of May. The below charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In Town, Durango Rural, Bayfield In Town, Bayfield Rural, Ignacio In Town, Ignacio Rural, Vallecito, and Durango Mountain Area.

These charts indicate the statistics and key metrics for single family homes and townhouses/condos, including new listings, sold listings, median sales price, and more. They compare May 2020 to May 2019. We also see the rolling 12-month median sales price for single family homes and townhouses/condos in these segments. We always appreciate these charts to be able to spot trends within our local market and compare results to previous years.

La Plata County single-family real estate transactions had an expected drop in sold listings, new listings, and median sales price compared to May of 2019. With the unprecedented events of COVID-19, this is no surprise. However, year to date we still see an increase in sold listings and median sales price compared to through last year at this time, which is positive news in terms of the momentum thus far in 2020 real estate. La Plata County townhouse/condo transactions for the month of May also had fewer new listings, fewer sold listings, and a lower median sales price. Year to date, the townhouse/condo market has seen fewer new listings and sold listings, but a higher median sales price.

Durango in town single-family homes saw a marginal increase in sold listings for the month of May compared to last year. This is notable due to the atypical last few months. Year to date, Durango in town also has more sold listings and a higher median sales price compared to through May of 2019.

Bayfield rural single-family homes had an even number of sold listings compared to May 2019, and an increase in the median sales price. Year to date, this segment also has a higher median sales price and more sold listings compared to through last year at this time.

Without a doubt, these last few months have been an anomaly in terms of real estate procedures; however, it is interesting to see that some of the markets continue to grow despite the changes. As we head into our summer months and typical peak time frame, we expect activity to continue to increase, allowing some of the momentum from earlier in the year to continue. There has been a lot of speculation that the Durango area could see an influx of buyers for two reasons: the first is buyers looking to relocate from larger metro areas, and the second is buyers who are now able to work remotely. While it is too early to say for sure, it does appear that this is starting to happen. As always, we look forward to answering any questions you have on the La Plata County real estate market.

Post Courtesy of The Durango Team

 

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