Commercial Real Estate sales volume of $34.9M with 51 transactions in 2019 is down 1% compared to sales in 2018 of 35 transactions worth $35.1M. Residential Real Estate sales of $513.5M in 2019 is up 4.5% compared to sales in 2018 of $491.3M. Sales Taxes are relatively flat in 2019 compared to taxes collected in 2018 of 23.8M. Commercial real estate development projects include a 198 unit residential apartment complex that is nearly complete. An increase in sales and property tax increase was shot down by voters in November.
DURANGO MARKET UPDATE
VELOCITY (Source – CREN MLS)
SALES TAX INDICATORS (Source – City of Durango/Business Improvement District)
RESIDENTIAL REAL ESTATE
PUBLIC POLICY CHANGES
- An increase in sales and property tax increase was shot down by voters in November
- 198 Unit Residential Apartment Complex Nearly Complete