Third Quarter Market Statistics - Durango, CO

Dan Korman from Alpenglow Properties discusses the third-quarter stats for single-family homes in Durango. He highlights the challenges for buyers due to rising interest rates nearing 8% and the scarcity of affordable homes. Despite a 10% increase in single-family home listings in town compared to last year, there's a surprising dip in September sales due to low supply. The median price for in-town homes is $817,000, up 7% from the previous year. County-wide, it's $750,000, an 11% increase. With low inventory, high prices, and increasing interest rates, the future is uncertain, but Dan remains cautiously optimistic for 2024.Watch this story at www.durangolocal.news/newsstories/third-quarter-market-statistics-durango-coSupport the show