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2020 Year End Review 4th Quarter Real Estate Statistics

2020, What a year! Overall, in the real estate industry, the unprecedented low interest rates and lack of inventory have kept the market a healthy one and the upward trend continues. The year started out strong. In mid-March however, the world came to a pivotal point which changed all of our lives in so many ways.

In the real estate industry, we were unsure how it was going to affect our local market. For a time, physically entering listings was halted and we waited daily to see how new rules would unfold. Eventually, we were able to resume showings with the guidelines that we now consider the “New Normal”. Remarkably, the market remained strong and we saw increased sales throughout the rest of the year. The numbers below show a reflection of almost every segment of the local real estate market with a significant increase in both median price as well as number of units sold. The slight exception to this is shown in the In-Town Bayfield market. The number of units was up over 31%. However, some of the sales noted were lesser priced condos and downtown properties, thus bringing the median price down slightly.

The Durango Mountain area saw a huge increase in sales. Inventories which had been on the market for longer periods of time were finally sold. It was as if everyone who had been contemplating buying in the past finally made the decision to do so. In a nutshell, buyers still outweigh the inventory. Supply and demand is what is driving the market. As long as the interest rates stay low, we anticipate a continued healthy market in our future.

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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 is top-notch! We were buying remotely and she went the extra mile to personally video the property for us to see. Her professionalism, knowledge, honesty, integrity and hard work ethics were very much appreciated. You have questions, just ask he...

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Gabi was personable, responsive and professional in all aspects of the selling of our home. We felt confident that she was working in our best interests, and it was a pleasure working with her....

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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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