|
REAL ESTATE NEWS | SAN MIGUEL COUNTY
|
Buyer Demand Up Despite Inventory Challenges…
Closed sales (down from 2022) and market pace is not reflective of buyer demand as low inventory levels continue to put pressure on sales. As a more historic market comes into focus, there should be relief for pent-up demand as inventory levels generally increase when the winter season and school-years end and the weather warms. The upside for some in the market (see sellers) is that prices continue to remain strong throughout the area and those who are pricing to the market receive high interest and close to list price (and in some cases, still over with multiple offers). Days on market in April increased from March and the list price to sale price ratio increased. Those are both indications of a strong market for sellers.
Although there are macro signs of an economic slowdown on the horizon, the real estate market may likely buck the trend. Historically, prices are not destined to meaningfully decline (and many markets may continue to see prices increase - see the accompanying chart) while mortgage interest rates have fallen in the last 6 recessions, which would be a benefit to home buyers and those looking to move within the area.
Our dynamic market remains very local. If you are interested in what your home is worth or values in a particular neighborhood, please contact me today to discuss.
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.
|
|
|
| May 12th - 14th |
May 13th - 29th |
| In its 8th year, on Saturday, May 13th, Pints, Pools, and Paddles Craft Brew Fest is back. This event is a unique brew festival that combines the joy of craft brews with the soothing effects of the 20 geothermal mineral pools. |
Downtown Durango is saturated with paranormal activity. You dont need to walk far to get your fill of ghost stories. Main Avenue was once home to a plethora of saloons, dance halls, brothels, and gambling halls. It was the stomping ground for outlaws, gamblers, prostitutes, miners, and railroad workers. Late night escapades, fueled by whiskey, led to many tragic events resulting in the ghosts that wander the streets today. Along Main Avenue you will hear tales of apparitions who refuse to leave the places they inhabited in life. |
|
|
|
| May 26th - 28th |
June 2nd - 4th |
| Brothers Tom and Jim Mayer concocted the idea behind the first Iron Horse Bicycle Classic. Jim worked as a brakeman on the Denver & Rio Grande Western Railroad, which had operated the steam-powered line between Durango and Silverton since the 1880s. Tom was a young bicycling enthusiast who enjoyed riding alongside the railroad tracks. |
Animas River Days includes these sporting events: stand-up paddling, river surfing, freestyle kayaking, boatercross, raft and kayak slalom, downriver races, and the local's favorite costumed river parade.
|
|
June 7th - August 23rd
|
|
June 20th
|
|
July 6th - 30th
|
|
|
|
July 8th - 9th
|
|
July 29th
|
|
Aug 25th - 26th
|
|
|
|
|
|