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DURANGO - COLORADO - REAL ESTATE
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Sluggish First Half
The effects of low inventory and higher interest rates have shaped our market through the first half of the year. Year to date, dollar volume in La Plata County is down 32% while unit sales are down 19%. There are pockets of the market that continue to demonstrate resiliency and overall, the lower inventory has helped keep prices stable.
We are now in an environment where, if historical patterns hold, we should see a peak in new inventory in the coming weeks. This is good news for buyers. Additionally, economists are forecasting interest rates to gradually decline as the Fed slows rate increases. If you are contemplating a move this summer, this is a great time to list your home. Buyer demand is strong, and we have seen listings, if priced to the market, sell - some with multiple offers.
2023 is shaping-up to be a year of transition in our local market. Historic fundamentals are coming into view and the market here locally and nationally has weathered significant changes due to the macro-impacts of the last few years of the pandemic. Look forward to a more balanced and active market toward the end of this year and into 2024.
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| June 30th - Dec 29th |
July 14th |
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EVERY FRIDAY: Puppy Party! Join us for our "Puppy Party" from 2pm to 4pm at PAR Headquarters! Come play, snuggle, and socialize with our adoptable pups -- and maybe you'll find one that you just can't live without. PAR Headquarters: 2980 B Main Ave. Durango, CO Don't miss out! Make sure to stop by, bring your friends, and find your new furry family member!
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Now in its sixth season, Silverton Summer Sounds 2023 is a free open-air music series produced by Silverton Creative District and presented by the Town of Silverton. This family-friendly event features libations, food and free live music in Memorial Park. Located at 1800 Greene Street, Memorial Park is ideally situated at the north end of Silverton's charming downtown district, within an easy stroll of myriad hotels, shops and restaurants. Concerts take place at 6 pm every 2nd Friday of the month from June through September with two high caliber musical acts at each show.
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| July 21st |
August 4th |
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Guillermo Figueroa, conductor
Amid the flickering glow of hundreds of candles, you will be immersed in a magical and awe-inspiring setting for this unique chamber concert event.
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The greatest chainsaw carving competition in the country returns to Purgatory Resort! Come watch these amazing artists create magnificent works of art right in front of you. Best of all, you can bid on the carvings during the auctions on Saturday and Sunday and take home a great piece of art! Meet at the base area.
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Available now: the Summer 2023 issue of Berkshire Hathaway HomeServices Prestige magazine. In this issue, we're introduced to the sparkling world of high-end Champagne, explore coastal getaways around the world, discover the latest in custom home décor design, and showcase remarkable properties from across the network. Click here to read the Issue.