u/iseemountains

So what's going on with real estate in Durango? Median YTD sales prices are maintaining, new listings have slowed a bit, YTD sales are still considerably up, and we're still working with more active listings now and this year from year's past. That's the simple boring stuff.

• In town, the active median list price is about 13% less than July's closed price.
• Nearly half of the active listings in town have dropped their price.
• The mountain/resort market (Tamarron, Glacier Club, Purg area) is kind of interesting if you start peeling back some layers. Allllll that inventory, like 17+ months of supply, and you'd think some of those folks are would be begging someone to buy their property, but there's more to it than that.
  • 45% of the listings in Tamarron haven't touched their price, and 80% of the listing in Glacier haven't dropped their price. It's a mix of patience, and financial security. Glacier Club is priced well above what a rate sensitive, need-to-move seller typically owns: second homes and investment properties, people that can hold rather than chase a number down.
  • I suspect the biggest source of motivation might come from those units in the lower price brackets that were affordable and obtainable to more folks than the 7 figure properties, and HOAs and taxes have started cutting too deeply into their margins.
  • Also, there's something like 22 active listings in the Tamarron lodge alone. Don't let the quality of patience cause you to chase the market. 7 lodge units have sold this year, at some point, if you want to sell, you're going to have to compete.

Speaking of condos, there's a change to lending that started coming down the pipes and has pretty much arrived. I spoke to it on some my socials (my socials.. who am I kidding, I think I just put it on FB). The nitty gritty is lending is going to start doing a deep dive on condo HOAs (finances, insurance, etc.) and really start to turn over some rocks. If you're paying cash, it's irrelevant (although you probably want to know about that stuff too), and I think it's within a year, HOA reserves will need to have 15% (instead of 10%) for maintenance and repairs. There's going to be some new items with lending and insurance that may or may not come up on your condo purchase (and sale!), but that's a conversation for your lender and insurance agent. I put an image up with a few bullet points, sorry, this one has my info on it- usually I soften/eliminate the personal branding on the stuff I post here.

Other interesting news, portable mortgages may be back on the table. Some legislation was recently introduced, so it's got a looooong way to go, but on the surface level, it seems like it would offer the intended relief. But... if 3% rates are back on the table, will that just drive prices up again, while pushing the divide between those who already own vs those still trying to get their foot in the door?

Here I was last month wary about how low June sales prices would go and... welp!

Ok some brief, notable takeaways:

YTD median sales price is up 5%, which, without doublechecking because I'm slacking this Friday afternoon, might be the highest since 2024? Last year certainly wasn't much to write home about.

Last month saw the most new listings, tied with last May, since June 2020.

Most active listings since June 2020, with the mountain resort area seeing the most active listings since August 2015. The months supply up there is now the highest it's been since December 2015.

Check out that 2nd chart I uploaded, active inventory continuing to trend up, but nowhere close to the ~3x inventory we had back in the day. I just pinged my 10th year as a realtor here, so that market was before my time. Tough to imagine shopping a market today where rural Durango alone had more active inventory than all Durango combined!

So I'm thinking the bottom bucket is for ambidextrous people ,But he forgot the sign it was a rough day.🫪😂

(I noticed that I labeled the image May 2026, but the data shows everything through April. But I'm doing the update in May. I think I had a brain glitch when I made it.)
Holy cow look at that DOM drop! There's a layer to peel back there: Durango in town listings that sold went from a median DOM of 107 in March to 48 last month. And since there were only 4 sales up in the resort area (compared to 10 the month prior), that number, a fat and juicy 318 DOM, didn't carry as much weight. Durango rural properties also went from 88 DOM to 66 DOM.

Everything else is kind of running on course. still trending for more new and active listings, and sales prices took a breather, which is nice for the folks shopping. Nearly 1/3 of active listings in Durango are up in the resort area, it's a solid Buyer's market these days.

Have a fun May! Looks like godzilla el nino is still a thing, so I'd take this time to make sure your gutters are all in working order, maybe take a local roof company up on a roof inspection, or Groundworks for a free crawlspace/foundation inspection to make sure everything is ready for a potentially record breaking amount of moisture over the next 12 months.