This week, we have the latest real estate numbers for La Plata County for the month of November. The attached 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, 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 November 2017 to November 2018, and year to date information for both years. 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 homes had a strong month in real estate. There were more new listings and more sold listings than last year at this time, and the median sales price is also higher than November of 2017. Year to date, the new listing and sold listings are slightly lower than through November 2017; however, the median sales price is higher. In the townhouse/condo segment, there were fewer new listings this November compared to last November, but there were more sold listings and we see a higher median sales price. Year to date, the numbers are all very close. There were fewer new listings and a slightly lower median sales price this year compared to last, but we do see more sold listings year to date through this year than last year at this time.
The Durango In Town single family home market had a standout month. There were more new listings, sold listings, and a higher median sales price this November compared to last November. The year to date numbers are the same trends: more new listings, sold listings, and a higher median sales price this November compared to through last year at this time. The townhouse/condo market had fewer new listings this November compared to last, but there was a 150% change from last year in sold listings, as well as a higher median sales price. Year to date, we see more new listings, sold listings, and a higher median sales price this year compared to through last year at this time.
These are interesting trends to see in November, and as we noted last week it is encouraging to see such a strong push at the end of the year. It will be interesting to see how December fares in terms of total numbers. It’s possible the December numbers will push the year-end totals beyond last year’s numbers, as we are tracking very close to last year at this time. In fact, a recent REALTOR® Magazine article suggests that national real estate may see a larger December this year, “December is typically the slowest month in the housing market, but it can be a great month for home buyers who have been sidelined to finally make their move. This month may be busier than previous December’s for that reason, too, economists say. Some buyers may be looking to take advantage of steadier mortgage rates—which are still averaging below 5 percent—and home prices that are easing somewhat”(https://magazine.realtor/daily-news/2018/12/12/why-you-shouldn-t-put-a-home-search-on-hold-in-december#!#.XBFkRp9krJ0.twitter). As always, we encourage you to take a look through these charts and let us know if you have any questions.