Durango Residential Sales History for the Last 34 Years
Year |
Average Sales Price Durango In Town Homes | % Change | Average Sales Price Durango Homes on Acreage | % Change |
1977 |
$43,224 |
|
$52,753 |
|
1978 |
$51,182 |
18.4% |
$57,711 |
9.4% |
1979 |
$53,139 |
3.8% |
$62,187 |
7.8% |
1980 |
$59,281 |
11.6% |
$65,178 |
4.8% |
1981 |
$71,715 |
21.0% |
$77,675 |
19.2% |
1982 |
$77,801 |
8.5% |
$85,081 |
9.5% |
1983 |
$78,847 |
1.3% |
$96,404 |
13.3% |
1984 |
$84,577 |
7.3% |
$88,637 |
-8.1% |
1985 |
$81,906 |
-3.2% |
$81,707 |
-7.8% |
1986 |
$82,174 |
0.3% |
$91,061 |
11.4% |
1987 |
$83,895 |
2.1% |
$100,304 |
10.2% |
1988 |
$89,087 |
6.2% |
$101,566 |
1.3% |
1989 |
$81,704 |
-8.3% |
$101,448 |
-0.1% |
1990 |
$93,501 |
14.4% |
$106,858 |
5.3% |
1991 |
$97,525 |
4.3% |
$112,054 |
4.9% |
1992 |
$109,588 |
12.4% |
$123,408 |
10.1% |
1993 |
$135,237 |
23.4% |
$153,580 |
24.4% |
1994 |
$165,127 |
22.1% |
$186,369 |
21.3% |
1995 |
$172,298 |
4.3% |
$189,677 |
1.8% |
1996 |
$194,795 |
13.1% |
$198,095 |
4.4% |
1997 |
$182,783 |
-6.2% |
$219,068 |
10.6% |
1998 |
$195,521 |
7.0% |
$227,965 |
4.1% |
1999 |
$202,746 |
3.7% |
$242,082 |
6.2% |
2000 |
$238,989 |
17.9% |
$289,770 |
19.7% |
2001 | $245,585 | 2.8% | $299,823 | 3.5% |
2002 |
$276,995 |
12.79% |
$336,770 |
12.32% |
2003 | $307,119 | 10.87% | $267,531 | 21% |
2004 | $344,503 | 12.17% | $377,763 | 41% |
2005 | $402,464 | 16.82% | $464,286 | 23% |
2006 | $474,240 | 17.83% | $513,665 | 11% |
2007 | $444,968 | 6.17% | $501,733 | 2% |
2008 | $428,224 | 4% | $518,996 | 3% |
For those of you trying to compare real estate investments to the stock market, both the S&P as well as the Dow Jones Industrial Average have appreciated somewhat more than real estate over this 31 year period. There are two features of real estate however that in my opinion make it a superior investment.. 1) a stock certificate you can hang on the wall and look at... real estate you can live in as your shelter or second home, or you can rent it out and get some income from it. Should you decide to leverage the purchase of your real estate with say 30% down... you are not even paying for the house... your tenant is, assuming you have it rented. Even if you don't have it rented you get the benefit of tax shelter of the interest payments so Uncle Sam helps pay for your investment. 2) We often hear of a stock's value going belly up and becoming totally worthless ( I have some of that expensive wall paper myself). I am not sure I have ever heard of a piece of real estate having its value go to zero. At first glance the upside may not seem to be as great, but there certainly is better downside protection in real estate.
All of these statistics were taken from The Durango Area Association of Realtors MLS sales statistics and as such would not include any sales accomplished by For Sale By Owner transactions.
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Last updated May 16, 2014
Rick Lorenz, Broker, CRS, ABR, CLHMS,
CNE Copyright 1999-2014 |
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