The Durango, CO metro area housing market in February 2025 presents a complex landscape with significant shifts in key metrics. The Median Sales Price has decreased to $549,500, marking a substantial year-over-year decline of 15.5%. This drop contrasts sharply with the Median List Price, which has risen by 22.1% to $790,000, indicating a potential disconnect between seller expectations and market realities.

In terms of Price Per Square Foot, the Median Sales Price per square foot has decreased by 14.7% to $384.35, while the Median List Price per square foot has increased by 12.8% to $450.61. This divergence suggests that while sellers are listing properties at higher prices, buyers are negotiating lower prices, possibly due to increased inventory and market conditions.

The number of Homes Sold has increased by 31.0% year-over-year, with 38 Homes Sold in February 2025. However, Pending Sales have decreased by 17.0%, indicating a potential slowdown in future transactions. New Listings have seen a slight decline of 1.9%, with 52 new properties entering the market. Inventory levels have risen by 11.2% to 198 homes, providing buyers with more options and potentially contributing to the downward pressure on sales prices.

The Months of Supply have dramatically decreased by 90.0% to 5.2 months, suggesting a faster turnover of available homes despite the increased inventory. The Median Days on Market have also decreased by 27.0% to 59 days, indicating that homes are selling more quickly than they were a year ago.

The average sale to list ratio has seen a slight decline of 0.4% to 96.3%, reflecting a modest decrease in the percentage of the list price that sellers are achieving. The percentage of Homes Sold above list price has decreased by 2.5% to 7.9%, and the rate of Price Drops has fallen by 2.9% to 15.7%. Additionally, the percentage of homes going off the market within two weeks has decreased by 5.0% to 33.3%, suggesting a slight slowdown in the speed of transactions.

Overall, the Durango housing market is experiencing a period of adjustment, with declining sales prices and increased inventory creating a more competitive environment for sellers. Buyers appear to be benefiting from these conditions, as evidenced by the increased number of Homes Sold and the reduced time on market. However, the disparity between list and sales prices indicates that sellers may need to adjust their expectations to align with current market dynamics.