Market Statistics for October look Good!

October sales of La Plata County residential properties showed a significant change in the market. The 2009 October residential sales showed an increase in market volume of 2.6% versus October 2008, and the average price increased 5.7% versus last year. The transactions were nearly even with 67 transactions this year and 69 transactions last year. The median price was down 13.8% compared to last year, which suggests greater affordability now, and perhaps explains the increase in market volume and the improvement in transactions.

These October results reverse the trends compiled through September 2009. In the first nine months of 2009, the market has been trending -36% in volume and –30.5% in transactions. The October results may be indicating the bottom of the market in September, as buyers have returned to the market. The inventory levels of residential homes throughout most of La Plata County remains high, which offers buyers greater selection.

The good news in the last week with the expansion and continuation of the first time homebuyers credit should assist in a market turnaround for the remainder of 2009 and the beginning of 2010.

You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com

Don Ricedorff is a licensed real estate broker in the State of Colorado, with 16 years of experience, and he resides in Durango Colorado.

He has numerous real estate designations, which have provided him with an unparalleled education to assist his clients.
The designations include:
CRS, Certified Residential Specialist
CRB, Certified Residential Broker
CCIM, Certified Commercial Investment Member
CDPE, Certified Distressed Property Expert
ABR, Accredited Buyer Representation
GRI, Graduate of Realtor Institute
RSPS, Resort and Second Home Property Specialist
CIPS, Certified International Property Specialist
SRES, Senior Real Estate Specialist

He is also an active volunteer in the community and his church. His highest aspiration is spending time with his wife, Janet, and his three children Kelly, Katie, and Kyle. His other interests include playing tennis, fly fishing, hiking, boating, and water skiing.