Durango Area Association of REALTORS® - 2014 MLS Data 1st Quarter Statistical Release

La Plata County home sales show a significant decline in the first quarter of 2014 versus the same quarter last year. The two months affecting those declines were January and February, while March posted the same number of sales as last year. 
There are several opinions regarding the decline in sales, & they are: 

1. There is not sufficient inventory of homes on the market to meet the demand. 
2. The rise in interest rates last year affected the ability for home buyers to complete loans
3. The government shut down in the fall affected home purchasing into January & February.

The other major item in these statistics is the median price decline in La Plata County in the first quarter, showing a .6% decline. It is very surprising given the increases in median price in all of the major areas of the County. The median price was up in Durango In-Town Homes by 10.6%, Durango Country Homes by .73%, Durango Condos by 17.0%, Bayfield Country Homes by 4.2%, Durango Mountain Homes by 5.1%, and Durango Mountain Condos by 75.6%. The only area in decline was the Bayfield In Town Homes by -8.1%.
A quick look at March 2014 vs March 2013:
La Plata County Sales:  70 this year vs. 70 last year. 
La Plata County Median Price: Up 4.3% this year to $335, 250
April & May Projections: 
La Plata County Sales-April & May 2013:  172 Homes Sold 
La Plata County Sales & Under Contract / April & May: 187 Homes (As of 4/15/14)

DISCLAIMER: This information is provided by the Multiple Listing Service of the Durango Area Association of REALTORS®, Inc. and is based on MLS statistics only. Data maintained is deemed reliable but not guaranteed, and may not reflect all real estate activity.