The prices in real estate in Durango, in the Colorado region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Durango has had a strong decrease during the last 6 months. In August, the average price per sq.feet was $1,149. In the following month the price per sq.feet decreased considerably to $874. The price for the following two months in (October, November) had a considerable decrease of 29 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 45 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $652.25 to $291 during December, and January.
Based upon to the price in Durango (cities), this has gone up in the last 6 months. The average price for August is $671,940. During September the price had a slight fall till $584,293. During the following two months (October, November) the average price had a considerable increase of 119 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 108 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $854,361 they are 57 % more affordable than the average price for Durango. The properties with the highest average price have 4 bedrooms, Their price is 28 % more costly than the average. After that we have properties with 3 bedrooms priced at $651,121.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $280 / sq.feet, with an average $311 / sq.feet price in Durango. The properties with the highest average prices have 1 bedroom. They are 68 % more expensive than the average followed by properties with 4 bedrooms with a price at $315 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $854,361 it is 69 % cheaper than the average price in Durango. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $1,089,911 it is 80 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $176 / sq.feet followed by "Farm" priced at $224 / sq.feet. "Land" is the most costly type of property with a $644 / sq.feet cost followed by "House" with an average price of $347 / sq.feet.