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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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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 was absolutely wonderful to work with in buying our new home. She was very responsive to all of our questions, emails and texts and gave us excellent advice. Her knowledge of the area and real estate was exceptional.We would definitely use her ...

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Gabi was absolutely wonderful through the entire process of selling our home. She was knowledgeable, thorough, responsive, and professional. She made the process for us so easy. We had a couple hiccups with our buyer in the closing process and Gabi k...

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We recently sold our home with Gabi and because of Gabi's expertise, we had an absolutely seamless experience. She gave us very solid advice and was able to negotiate the selling process in a fair and reasoned manner. We would highly recommend Gabi...

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We're so grateful to Gabi for helping us buy our dream home in Durango, Colorado. She was very knowledgeable about all the neighborhoods in Durango and was able to share a lot of "insider" advice with us, which we so appreciated. She was incredibly r...

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Gabi is awesome! She helped us buy and sell 5 different real estate transactions. She is extremely knowledgeable, courteous and professional. Very easy to communicate with and will keep you informed on everything! We highly recommend her to find you...

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It’s rare that you meet someone in any profession that inspires the level of confidence that Gabi does. Her professionalism, knowledge, and dedication to getting every detail right makes her that person. It has been our pleasure to work with Gabi f...

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There is no realtor out there like Gabi, she is extremely professional and knowledgeable when it comes to real estate. She is not about just making a closing but about making sure the fit is right for you and your family. I would never use anyone els...

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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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