For mere mortals looking for an affordable abode within cycling distance of downtown Durango, this might not be great news: Durango just had a home sell for $3.1 million in city limits.
High prices are nothing new in La Plata County, especially north of Durango along East Animas Road (County Road 250). But they are more rare in town, said Andy Langefels, a broker with Re/Max Pinnacle, who closed on the property Dec. 31. Langefels went back 10 years in the Durango Area Association’s Multiple Listing Service and couldn’t find a house that sold for more than the $3.1 million at 591 Jenkins Ranch Road.
“It does show that people have trust in the national economy and the local economy,” he said.
The 7,567-square-foot home has six bedrooms, seven full bathrooms and one half bathroom, and sits on 3.81 acres.
According to Langefels’ research, two homes sold in 2019, one at 687 East Fourth Ave. and the other at 1237 East Third Ave., and tied for the next highest sale in city limits in the past decade, with both selling for $1.65 million.
You have to go back to pre-Great Recession days, in 2005, to find an in-town home that compares in terms of sale price, Langefels said: A home up Junction Creek sold for $1.6 million after being listed for $1.85 million.
Langefels, who wouldn’t reveal the owner’s name (it’s listed as purchased by Walker Revocable Trust of The Woodlands, Texas), said the owner had worked in the Four Corners for years and was attracted by the views in a home that was just three minutes from downtown.
Durango has its niche among high-end buyers, Langefels said.
“Durango is still pretty remote,” he said. “In Aspen and Telluride, you tend to see people who want to be seen, to show off. There’s a lot of wealth in Durango, but they want to blend in and live the lifestyle.”
High-dollar home sale in Durango
A home on Jenkins Ranch Road sold for $3.1 million on Dec. 31, 2019, making it the most expensive sale within Durango city limits in recent memory, according to a local real estate agent. The 7,567-square-foot home has six bedrooms, seven full bathrooms and one half bathroom, and sits on 3.81 acres.