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2021 MLS Data Yearly Statistical Release

The 2021 overall market could be summed up in one sentence: Lack of inventory results in higher prices. However, that would be rather simplistic. The data suggests that in all segments of the market the median has strongly increased in price. “In town Durango” saw the highest increase in the market, with “Durango Country Homes” following in a very close second. The distinction between the two markets is primarily due to a decrease in “In Town Durango” units sold in comparison to 2020 numbers, while “Durango Country Homes” had an increase of 5.5% in units over the same period. The “Bayfield In Town” market followed suit with that same trend with a 20.4% price increase, yet a decrease in units by 18.8%. “Bayfield Country Homes” trends similarly to the “Durango Country Homes” market with an 18.9% increase in price, but with a decrease in units sold of 13%. In La Plata County, “Land 1-10 acres” rose moderately at 5.4% in price, and yet units sold soared 48.2%. Comparatively, units sold in 2020 totaled 139, and in 2021 increased to 206. Lastly, the Resort market saw a significantly large increase in cost. The “Resort Condo/Townhomes” segment was up in price 49.2%, from $325,000 median price in 2020 to $485,000 in 2021. “Durango Mountain Homes” saw an increase of both pricing at 17.7% and units up 9.1% over 2020 numbers. The local real estate market remains strong. The 2022 proposed increase in interest rates could have some impact on the market, but we are still seeing more demand than there is inventory

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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