Durango February Luxury Market Report

Dated: February 25 2020

Views: 57

https://youtu.be/fVyGnJMCcLc

The Durango single-family luxury market is a Buyer's Market with a 4% Sales Ratio.
• Homes sold for a median of 97.60% of list price in January 2020.
• The most active price band is $900,000-$999,999, where the sales ratio is 25%.
• The median luxury sales price for single-family homes has decreased to $900,000.
• The median days on market for January 2020 was 170 days, down from 179 in December 2019.“How Will the Wealthy Fare in 2020?” is an exclusive report recently published by Wealth-X1, a world leader
in wealth information and insights. Understanding the impacts that affect the wealthy is obviously critical to
luxury real estate as they shape the spending power and ultimately the decisions of the affluent.
The report may be surprising because, despite geopolitical uncertainty and inflamed economic growth, they
predict that 2020 will be “a year of solid expansion for the world’s wealthiest individuals.”
Wealth-X forecast that the global wealthy population will continue to grow with the Very-High Net Worth
(VHNW), whose net worth is valued between $5-$30 million rising quickly, but even more sharply among the
Ultra-High Net Worth (UHNW) with wealth over $30 million.

To get the full report email me directly at kyle@kylekunkel.com

Blog author image

kyle Kunkel

I am a family man—my beautiful wife Megan, our little girl Anaiah, and our dog Koda are my world. Being a real estate agent in SW Colorado & helping people call this slice of heaven on earth “ho....

Latest Blog Posts

What’s the difference between a single-family home and a regular house?

Single-family houses are those that are built on a single lot. There is sometimes a garage.  These homes typically provide greater privacy and space than other types of residences, as well as

Read More

What is a standard bedroom size?

A bedroom is an essential area for humans to unwind after a full day of activity. It is a safe haven for the majority of us. Because most people spend most of their time here, it is critical to have

Read More

Home prices?

Home Prices: It’s All About Supply and DemandAs we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the

Read More

U.S. Homeownership Rises to Highest Point in 8 Years.

For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments. It is a whole new way of life that has put our daily lives on pause. On the

Read More