Durango housing (Montrose, Bayfield, Mancos: ski resorts, real estate market, mobile home) - Colorado (CO) - City-Data Forum

milfeld · 07-13-2007, 07:37 PM

What's the housing sitch in Durango? Or let me ask this...can you find a single family home for under $200K? As I'm fairly certain there wouldn't be a local petrol hauling job there, I'm thinking DH could go back to over-the-road trucking. (He's always wanted to, anyway.)

Sandy..getting sicker of the Texas heat and humidity every day.

AMB8301 · 07-13-2007, 08:37 PM

Under 200k, no way unless you are talking about a mobile, and even that is probably way more. The median price is in the high 300's.

TN Gal in AZ · 07-13-2007, 10:11 PM

A Real Estate person has been sending me listings of housing outside the Durango area with the pricing around $249,000 & up. Some are mobiles but most seem to be houses. I think most of these are in the Bayfield area. But I do believe that Durango proper is $$$$.

archaeo · 07-13-2007, 10:23 PM

Yes the median price in Durango is around 400K... But the housing slump is starting to be felt there, too. Sellers may be more willing to negotiate soon- but probably not down into the 200's !

Phazed-Coug · 07-14-2007, 01:17 AM

200K, I would have stayed...
try 50k for and old mobile home, and thats without a spot to put it.

How hot is it now... probably not hot enough.

jazzlover · 07-14-2007, 02:20 PM

OK--the Durangoans will flame me for sure, but here's the deal. Durango is in one of the prettier areas of Colorado, no denying that. But, make a simple comparison. Durango and Montrose are like "bookend" towns, Montrose at the north end of the San Juan Mountains, Durango at the south. One can argue that Durango has a nicer setting for the town, but Montrose has milder winters. Durango is bigger in population and has a college. Still, the two should be at least somewhat comparable, right? Well, housing prices in Durango are just about DOUBLE those in Montrose. There is no way the income levels for residents of those two towns are THAT much different.

So, you have to ask: Is the Montrose real estate market grossly undervalued? Hardly. Housing there is by no means cheap. So, must it mean that the Durango market is way overpriced and prime for a "correction?" That's my conclusion. Given the difference in community amemities, I could see a 25-30% difference. Nearly a hundred? Somethin' ain't right.

archaeo · 07-14-2007, 04:53 PM

I'm not that familiar with Montrose, but Durango probably has a few things more than just what you listed- the animas river, nearby ski resorts, the durango-silverton narrow gauge, and a great historic downtown.

jazzlover · 07-14-2007, 09:36 PM

archeo,

Most of the additional amenities you listed, Durango has had for a long time. For years, the real estate markets between it and places like Montrose had only moderate differences. It has only been in the last few years that the disparity has grown so wide. Some longtime Durango residents I know can't even figure it out. They don't know how that "Energizer bunny" market keeps running up--a couple of 'em are getting ready to cash out of that market before "the wheels fall off."

PS--The real estate market in Silverton is even more detached from reality--some pure speculation seems to be in play there. Kinda like playing a game of Hearts--sooner or later somebody gets stuck with the old Queen.

AMB8301 · 07-15-2007, 03:34 PM

Quote:

Originally Posted by TN Gal in AZ

A Real Estate person has been sending me listings of housing outside the Durango area with the pricing around $249,000 & up. Some are mobiles but most seem to be houses. I think most of these are in the Bayfield area. But I do believe that Durango proper is $$$$.

The farther you get from Durango, well in most areas (it's still pretty $$$ up towards DMR) then the prices fall. Bayfield is booming, and more pricer then say towards Ignacio area, towards Mancos is generally even cheaper, although prices have really increased over there as well. Most of these places have very few jobs in them so the vast majority of people will be commuting to Durango every day to work. The drive time to Bayfield is very increased during peak traffic times because of that. Many of the places that you find for 249 or so are a good 30+ minutes from Durango, not all of them of course, but many. Prices in city limits are daunting to many so they settle farther and farther from the city limits.

archaeo · 07-15-2007, 09:14 PM

Quote:

Originally Posted by jazzlover

PS--The real estate market in Silverton is even more detached from reality--some pure speculation seems to be in play there. Kinda like playing a game of Hearts--sooner or later somebody gets stuck with the old Queen.

That has to be from Aaron Brill's new resort up there - put in a ski area and watch the real estate skyrocket...