March 2018 Newsletter
“What does low real estate inventory mean for me?”
You’ve probably heard that the real estate market inventory in La Plata County is low. Last month was no different. Despite the unseasonably warm winter that kept construction crews building new homes, buyers still note the low inventory, but home building is on pace to increase this spring even more!
When buyers locate a home they like in this market, it’s a great time to buy with the Durango market steadily appreciating. Though we see interest rates increasing, they are still very low.
Currently, only 47 single family homes are listed in town through the Multiple Listing Service (MLS) with a median price of $649,000. 48 in-town condos/townhomes are for sale with the significantly lower median asking price of $329,000. There is slightly more rural Durango inventory with some higher end listings. Out of 147 single family homes, 51 are listed over $900K; The median price is $739,000. The 19 condos/townhomes listed in rural Durango areas have a median price of $330,000. Read More
