Two days ago I posted that homes in town Durango are selling for only 4% under asking price. Why is that, I thought it was a buyer's market. Doesn't that mean that buyers can get great deals?
First off, Durango in town properties are likely the most popular properties and our average price is just under $400,000. I suspect that as you move up in price and include rural homes on acreage the selling price/asking price difference will go up.
I looked at all Durango home sales for Jan and Feb 2009 and found that 15 homes sold for an average of 6.8% under asking price. For a $500,000 home that would mean a $30,000 discount. Looking at the details, the higher the price, the more difference. Click here for the summary. For exampe, the highest priced home for $1.6 Million closed for $400,000 under asking.
Check back soon and often for up to the minute real estate news.
Claudia
Claudia Williams
970 247 8388
P.S. For more market statistics check out my current market page on my website: Click Here.
Did you know that the combination "ough" can be pronounced in nine different ways? The following sentence contains them all:
"A rough-coated, dough-faced, thoughtful ploughman strode through the streets the Scarborough; after falling into a slough, he coughed and hiccoughed."
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