August Market Update
Durango and La Plata County
July was a sluggish month for single-family sales, which are 11% lower YOY, but expected given our higher-than-normal sales in previous months and our dip in pending contracts in June. Sales are still +17% in number YTD. The median price has dropped -11% YOY, pointing to both buyers choosing less expensive homes and also a reduction in home value. Inventory is creeping up, meaning more choices for buyers, more competition for sellers, and thus pressure for each seller to make their listing stand out, whether with its condition or incentives.
The condo and townhome markets are continuing to have a banner year. Sales are 33% up YOY in July and 22% up YTD. Inventory is continuing to enter the market quicker than it is being absorbed by buyers, though, leading to a growing supply of homes. Most of the county’s condo/townhome sales are in-town Durango, where there is now a 6-month supply of inventory.
Our Purgatory Resort area is having a year as strong as 2025, with little changing in the amount of sales. The median prices have dropped, reflecting that buyers are choosing less expensive inventory and with some price depreciation. The amount of time it takes a home to sell has increased significantly with the amount of inventory now on the market, rising to almost 17 months of inventory of single-family homes and 15 months of condo/townhomes currently available for sale.
In other regional news, we continue to see rural Durango outperforming rural Bayfield in 2026. While both areas saw fewer sales in July YOY, rural Durango was less affected overall and has seen 39% more sales YTD than in 2025. Both areas saw the median decrease, -3% YOY in rural Durango and -16% in rural Bayfield.