As temperatures warm up and snow melts, Bayfield’s spacious country properties are beginning to garner a bit more attention.
Although such sales stalled during the winter months, Kayden Hyson with Durango Area Association of Realtors said he has noticed increased inventory and buyer interest over the last week or so. He said it seems to be a time where buyers anticipate interest rates will fluctuate more in their favor going forward.
“As it gets nicer, as it gets warm, as it gets greener, we’ll start to see more listings come to the market, especially those rural locations in Bayfield,” he said. “Snow starts to melt, the mud starts to dry out, things start to green up where ... that triggers the sellers to be like, ‘OK, it’s time to list my house,’ and buyers usually start looking in that April and May time frame.”
Country homes in Bayfield, 20 of which were sold after spending an average of 79 days on the market with an average price of $773,905 during the fourth quarter of 2023, encompassing October, November and December, continue show some promise.
Between January and February, typically the slow months for the seller’s market, 13 such properties were sold for an average price of $647,876 after spending an average of 143 days on the market, according to data from DAAR.
Hyson said the current intrigue revolves around the country-style houses themselves, from bedrooms and layout to square footage details, as opposed to that property’s acreage.
Seven country land properties in Bayfield were sold for a combined $546,500 (averaging $78,071 per property) during that January-February period after spending an average of 119 days on the market.
Although there was zero activity on the in-town land market during the fourth quarter of 2023, one piece of land in Bayfield was sold for $104,000 during the January-February time frame after being on the market for 220 days.
Hyson said in-town land sales are largely developer-owned or ready for development as opposed to being private sale transactions, adding that construction costs involving those properties are expensive.
Eight in-town homes were sold for an average price of $442,850 after spending an average of 85 days on the market during the fourth quarter of 2023. From January through February, two in-town homes were sold for an average sale price of $550,000 after spending an average of 71 days on the market.
Hyson said in-town homes are easier to sell during the winter compared to country homes.
“There’s not a big gravel driveway you have to plow, and there’s not a lot of snow removal you have to do. That will tend to help in-town properties because it’s a lot easier to show those. It’s a lot easier for buyers to understand what it looks like,” he said.
As temperatures continue warming up entering spring and summer, Hyson said more listings will appear on the market.
mhollinshead@durangoherald.com
