1st Quarter Statistics for La Plata County

La Plata County home sales had a robust first quarter with a 17.4 % increase in the number of homes sold, and a 9.2% increase in median price. In most areas of the County, the number of homes sold and median price increased. The anomaly in the statistics is in the Durango In-Town Homes. The statistics make it appear the market is sluggish, and the median price is virtually flat. Those are not the facts! The Durango In-Town market is strong, and it is a lack of inventory creating the illusion of nearly flat sales. The median prices for the neighborhoods serviced by Needham, Riverview and Park schools are up $40,100 in median price, which equates to a 13.1% increase. As of April 15, 2013, the inventory of homes in these neighborhoods is 67 homes and 29 of them are under-contract, which is a very low inventory of homes considering the market demand. The variance in the statistics is in the Three Springs area, near the hospital. The builders in Three Springs have been offering some
smaller homes, which drove the median price down $25,000. Overall, the rebound in the economy, and the continuance of low interest loans is sparking the housing market across the country. Land sales were robust, as buyers continued to take advantage of the lower values in the market place.  Commercial activity was also a bit stronger in the 1st quarter, with 7 sales versus 5 last year.