REAL ESTATE NEWS | DURANGO
Return to Fundamentals as Market Remains Active
2024 culminated with La Plata County dollar volume decreasing 2% from 2023 while unit sales slipped 9%. This data indicates that prices have remained strong despite headwinds that include higher interest rates and a presidential election cycle that generally reduces sales. The lower residential sales can be primarily attributed to the interest rate environment combined with higher prices. Rates have kept those who currently have lower mortgage rates from making a move and new entrants into the market from purchasing their first home.
The new year should afford home buyers an interest rate reprieve (economists expect rates to settle in the low 6% - below historic norms) and buyers will be greeted with more inventory (already up 3% from the start of 2024) which should help normalize appreciation rates in some areas and create a favorable environment for buyers.
We are returning to a more predictable, cyclical market where inventory and sales are adjusting to pre-pandemic levels and timing. What is important to remember is that our dynamic market is unique, and a macro-view does not speak for every unique market.
Let’s connect and discuss your 2025 real estate goals. I would be happy to present in-depth information about your property or area of interest. Until then, have a great start to the New Year!
Statistics are provided by the Colorado Real Estate Network and calculated by area. Call me for information on statistics that are specific to your neighborhood. I also have monthly and quarterly market trend reports that I can schedule you to receive so please let me know if you have an interest in receiving this type of information monthly.
LOCAL EVENTS
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Various Dates in January
Departing from the Durango Depot, this excursion takes you up into the Rocky Mountains with incredible views of the San Juan National Forest as you travel alongside the beautiful Animas River while relaxing in heated coaches. Cascade Canyon is a destination like no other and is the perfect setting for a fire-side lunch, photo opportunities or a walk along the Animas River during your 60-minute layover.
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January 24th - February 2nd
The 46th annual Snowdown Durango kicks off January 24, 2025 with the theme Snowdown, The Board Game Edition: It's Your Move. Check back here for an ongoing schedule of events.
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January 31st
Durango’s only nighttime parade, where lighted floats create a dazzling delight in Durango’s most entertaining procession along Main Avenue. Entrants are encouraged to incorporate lights on their floats. Floats compete for bragging rights in several categories.
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February 12th
One way to beat the darkness of this time of year is to get outside and enjoy it! Experience the alpine glow of the Twilight Peaks and the rise of the full moon as you sip a warm beverage by the bonfire or go for an evening ski or snowshoe. This is an event for the whole family.
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Winter
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February 15th-16th
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March 5th-9th
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April 11th-13th
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April 25th-26th
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May 24th
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Our Annual Homeowner Report provides you with an accurate estimated value of your property based on current market trends. As a real estate professional, I am committed to making your real estate journey as seamless and rewarding as possible. Being part of Berkshire Hathaway HomeServices Colorado Properties means I have access to best-in-class tools, market data, and resources, ensuring you have everything you need to make informed and confident decisions.
