Durango Colorado Real Estate Update for November 2022

As we close out 2022, we are able to project and compare “Dollar Volume” in Durango/La Plata County for the past three years; 2020- $352M (Covid) 2021- $549M +56% 2022- $429M – 21% (still up 23% from 2020). Overall, Active Listings is up 16% from the previous month and up 36% compared to this time last year, Under Contract is down 31% YTD. The good news is that we are getting a 98% List to close Price.

 

One thing that I would like for you to notice on the graphs below is the consistency of the past four years on how the active listings peak in April and then decline in November. And as a result, the pending increase in November as compared to April. Days on the Market are increasing, but still at a low compared to 2019 and 2020. “ As a follow-up from my November newsletter that sellers are living in the past 12 months and buyers are living in the next 12 months”.

 

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