Preliminary research shows positive appreciation for the 4th quarter of 2012 over the 4th quarter of 2011. Prices in La Plata County, which includes Durango Colorado, appear to be up approximately 5.4% over the 4th quarter of 2011. With just a few days left in December, the number of homes sold in the County is 218 versus 188 for the same time period in 2011, a 16% increase over last year, with the median price showing $296,000 versus $280,750 last year, a 5.4% increase.
If these numbers hold, which seems likely, this will be the second consecutive quarter of appreciation in La Plata County real estate. For the second half of 2012 versus 2011, the number of homes sold is up 18.9%, and the prices are up 3.48%.
The bottom of the real estate market for La Plata County in terms of homes sold was back in September of 2009, but for the first time, prices appear to be gaining strength, and it is likely that we will look back and say the bottom of the market for prices was June 2012.
For home buyers, we suggest moving forward with purchasing soon to take advantage of the possible future appreciation.
Don Ricedorff, Broker Associate, GRI, CRS, CCIM, ABR, RSPS, CDPE
E-Mail: don@durangorealproperty.com
Direct: 970-375-7014
Fax: 970-259-5007
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