DURANGO - COLORADO - REAL ESTATE
The Return of Fundamentals
Our market is back to more typical fundamentals. Price, location, and condition factors, elements that the market deviated from in the height of pandemic-era real estate, have returned. Interest rates, too, are back to normal fluctuations but have trended down in the last few months in anticipation of macroeconomic shifts. All to say that we are returning to state of normal and predictable buyer and seller activity in the market. That is positive.
Compared to 2023, through the third quarter of 2024 in La Plata County, both unit sales (up 4%) and dollar volume (even) demonstrate continued strength in the market as we enter the winter season. Buyers remain actively engaged but remain critical of pricing. With strength in equity markets and more favorable interest rates, 2025 should be an active year for markets. Additionally, home price appreciation is expected to be modest nationwide. This, plus interest rates moving down and more inventory, should create attractive opportunities for buyers as well as sellers looking to make a move.
While this is generally a quieter time in the market, activity still exists and those who have been on the sidelines may find opportunities by making a move advantageous. If you are curious about your home’s value, or are looking for new opportunities to buy, please contact me anytime to discuss. The market remains dynamic and local, and I would love the chance to learn more about your goals for 2025.
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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October 12th
Join us at the annual community festival celebrating our region's apple abundance! Participate in pressing apples into fresh cider, indulge in tasty treats, join the apple pie-eating contest, and enjoy family-friendly activities. Let's come together to support our community, reduce waste, and protect the environment. See you there!
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October 18th - 20th
Join us at the Animas Valley Balloon Rally this October 18-20, 2024! ✨ Witness the spectacular Downtown Balloon Glow on Friday evening, featuring multiple glowing hot air balloons and even a few candlesticks. Don't miss your chance to meet the pilots up close and personal!
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Oct 25th - 26th & Oct 30th - Nov 2nd
Embark on a wild ride at the DAC for the Rocky Horror experience! Join Brad and Janet in singing and dancing the iconic 'Time Warp' while they explore love, life, and the unexpected. Don't miss out on the thrilling journey 'over at the Frankenstein place'! ✨
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November 2nd
Enhance your holiday shopping at the Durango Arts Center! Discover unique creations from a variety of talented artists in the gift gallery. Find the perfect one-of-a-kind gifts for your loved ones on Santa's nice list.
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Fall/Winter
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Nov 22nd - Jan 4th
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November 28th
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November 29th
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December 6th
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December 6th - 8th
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Understanding the value of your home is crucial for making informed decisions, whether you're thinking of selling, refinancing, or just curious about your investment. Accurate home valuations help you set the right price, maximize your return, and ensure you're making the best financial choices.
To get an up-to-date valuation of your home, visit my website for a free home valuation. It's quick, easy, and can give you valuable insights into your property's worth. Check it out today!