Blue Ribbon’s Weekly Market Update:

It has been busy here!  As I have said in the last few weeks, the market is picking up.  Many buyers are starting to call and ask all the right questions, sellers calling asking “what do I need to do to sell my house?”   Not a full market recovery but there are irons in the fire and it’s going to be a good year for selling and buying.  I have never been so busy in the middle of winter!

Many sellers are still sticking to their prices and many buyers are looking for a good deal.  The most challenging time for the deals that are under contract is the inspection period, buyers can be skidish are ready to back out on the drop of a dime.  My advice, take it one step at a time, breathe, and don’t loose sight of your original goal.  Evaluate each detail on the true level imporantce and compare it to the big picture.

What has sold in the last week?
7 Homes have sold in Durango in the past week.  Homes were priced from $124,900-$800,000.

-Average list price was $376,900k     -Average sold price: $369,000
- Average Days on market: 216
-Average sold price per square foot from these homes: $196.00
-3 homes were in town, the other 4 in rural Durango locations

Click Here to View CMA Presentation
How many homes are under contract?

25 homes are in town.
32 are in rural areas of Durango.
There are currently 57homes in Durango with pending sales.  Listed prices range from $70,000 to $5.9 mil.  Averge price was $484k, Median price is $299,900.

Anything new?

Here are the 11 new listings posted since last week:
Click here to see new listings
–
Shaheen Hangval
Broker Associate/EcoBroker with Blue Ribbon Properties

835 Main Ave. Suite # 214
Office: 970-247-8388 Fax: 970-247-8360
Shaheen’s Cell: 970-769-2441