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2020 2nd Qtr Statistics Durango MLS

Here it is – the widely anticipated La Plata County real estate sales statistics for the second quarter of 2020! We have many questions which you might share. Did the market collapse due to the pandemic? Is it coming back now that properties are being shown again? Are prices falling, or are prices remaining at pre COVID-19 levels? Are people moving here to escape what is happening in our larger cities? We hope this information helps shed light on what is happening here in SW Colorado.

The market is active, with sales increasing as well as pending contracts, driven primarily by low interest rates which are pushing potential buyers to make their move. Brokers are reporting some multiple offer situations. Showing activity is up both in person and virtually. As a reminder, the data shown below does not reflect properties that are under contract, only closings through 6/30/2020. Properties under contract typically close within 60 days of contract (but not always). Based on current activity, we expect a strong 3rd quarter as well, provided that the ability to hold in-person showings continues to be permitted under public health orders.

Looking at the stats, you will see a large increase in the total volume of properties sold In-Town Durango compared to Q2 2019, but remember we were still digging out of snowbanks in the second quarter of 2019! The sale of Bayfield homes, while greatly increased in the first quarter, have leveled again close to 2019 numbers, and La Plata County Country Homes are still down from 2019, but are expected to increase in the third quarter. The Durango Mountain Resort area (Tamarron and north) continues a strong year of activity. Segments of the market that are still showing declines are Condo/Townhome, Land, and Commercial sales.

What are the high points to mention about the second quarter of 2020? We talked to a number of our members who reported back to us. Durango is still viewed as relatively safe and remote, with open space and trails and room to distance outside. While unexpected during a global pandemic and an election year, we are seeing buyers and sellers, who may have been planning a move down the road, are now accelerating their plans.

The higher end price range ($800,000 and up) is experiencing more activity than we’ve seen in years. The entry level price range continues to be challenged with fewer options and lots of competition for these listings. How are prices being affected? When there is more demand than supply, prices tend to increase. No one knows how long this will last. Our market WAS slow during the Stay-at-Home order, and we did see a drop in sales, but Durango continues to hold its own in these challenging times.

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When it comes to buying a home, Gabi is someone who knows how to strike the balance between what you want in a home and what is possible in your budget.She stayed with us for nearly a year staying on top of the market and sending us homes to review. ...

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Gabi has helped us with several real estate transactions over the years. She is ALWAYS attentive and handles all the details in very professional manner. She is very thorough and we know she has our best interest at heart. We highly recommend her...

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Gabi helped us purchase our first home in the midst of this historic and difficult market. She put us at ease with her honest and direct communication, and we felt so lucky to be in her very capable hands throughout the entire process. She is very re...

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Gabi has been both our buyers and sellers agent in Durango. She is an expert in the local market and succeeded in getting our house sold several years ago when other listings for identical homes were not moving. Recently, she found us the perfect,...

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My husband and I were fortunate to be connected with Gabi at the suggestion of his employer when we were relocating to Durango from out of state. Throughout the whole process, Gabi could not have been more friendly, helpful, and knowledgeable in assi...

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We worked with Gabi to sell our rental property in Durango, CO. We were selling remotely, and Gabi was more than just our agent. She expertly managed all the details needed to get the house ready for sale. She kept us informed of the decisions we ...

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We've worked with Gabi as our agent for both buying and selling homes. I can't recommend her enough. She takes the time to give attention to each client, whatever is required so that the transaction is smooth. She is highly professional, responsive, ...

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Gabi was fantastic to work with. She helped us through the buying process and allowed us to explore many different property types and locations before we found the perfect home to buy. She was incredibly responsive, professional, informative and he...

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Gabi Bergstrom Durango Real Estate Remax Logo
970.946.7522 GabiBergstrom(at)gmail(dotted)com RE/MAX Pinnacle
1221 Main Ave. Durango, CO. 81301
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