{"id":42380,"date":"2022-01-27T01:41:03","date_gmt":"2022-01-27T01:41:03","guid":{"rendered":"https:\/\/dh.durangoherald.com\/tj\/median-home-prices-rise-in-montezuma-county\/"},"modified":"2026-03-31T09:06:52","modified_gmt":"2026-03-31T09:06:52","slug":"median-home-prices-rise-in-montezuma-county","status":"publish","type":"post","link":"https:\/\/dh.durangoherald.com\/tj\/median-home-prices-rise-in-montezuma-county\/","title":{"rendered":"Median home prices rise in Montezuma County"},"content":{"rendered":"

\"A
A Cortez home currently listed for $440,000. (Courtesy Four Corners Board of Realtors listing service)<\/span>Courtesy Four Corners Board of Realtors listing service<\/span><\/figcaption><\/figure>\n<\/p>\n

Amid plummeting inventory, median and average home sales prices have climbed in Montezuma County.<\/p>\n

It\u2019s a trend that is materializing throughout the state \u2013 and likely here to stay, said Jason Witt, agent with Regents Real Estate Group Inc. and president of the Four Corners Board of Realtors.<\/p>\n

\u201cI\u2019m positive the hardest thing we\u2019re facing right now as an industry is lack of housing,\u201d he said. \u201cOn top of that, affordable housing.\u201d<\/p>\n

Home prices in Montezuma County, comparatively easier on the pocket than in other areas of the state, are attractive to those seeking the sanctuary of a more rural lifestyle, said Terry McCabe, a broker with RE\/MAX Mesa Verde Realty and Four Corners Board of Realtors member.<\/p>\n

Witt echoed the sentiment.<\/p>\n

Montezuma County\u2019s lower prices are a \u201cbright and shining\u201d draw of the area, he said.<\/p>\n

\u201cThere\u2019s a lot of people trying to get out of the Front Range, and I think it\u2019s just they\u2019re looking for a more relaxed atmosphere than what they\u2019ve seen in a lot of bigger places,\u201d McCabe said.<\/p>\n

\"A
A Cortez home currently listed for $440,000. (Courtesy Four Corners Board of Realtors listing service)<\/span>Courtesy Four Corners Board of Realtors listing service<\/span><\/figcaption><\/figure>\n<\/p>

In Cortez, the median home sales price is $257,750, up 17.7% for the year ending in December 2021. The average is $289,307.<\/p>\n

The statistics were released by the Four Corners Board of Realtors<\/a>, which facilitates residential property sales in Montezuma and Dolores counties.<\/p>\n

\"A
A Cortez home currently listed for $685,000. (Courtesy Four Corners Board of Realtors listing service)<\/span>Courtesy Four Corners Board of Realtors listing service<\/span><\/figcaption><\/figure>\n<\/p>

And in Dolores, the median home sales price in 2021 was up 20.8% in Dolores at $385,000 and 13.4% in Mancos at $400,000.<\/p>\n

\"A
A Dolores home currently listed for $418,000. (Courtesy Four Corners Board of Realtors listing service)<\/span>Courtesy Four Corners Board of Realtors listing service<\/span><\/figcaption><\/figure>\n<\/p>

The average home sold for $422,760 in Dolores and $479,556 in Mancos.<\/p>\n

\"A
A Mancos home currently listed for $395,000. (Courtesy Four Corners Board of Realtors listing service)<\/span>Courtesy Four Corners Board of Realtors listing service<\/span><\/figcaption><\/figure>\n<\/p>

Overall in Montezuma County, the median home sales price is $300,063, up 16.3% for the year ending in December 2021. The average is $349,069.<\/p>\n

In Dolores County, the median home sales price is $217,000, up 27.6%. The average is $257,417.<\/p>\n

In Dove Creek, the median home sales price is $175,000, up 55.6%. The average is $201,022.<\/p>\n

Altogether, Montezuma County has seen about a 16% rise in homes sold compared with 2020. In the rural areas of the county, 191 homes were sold last year. In the towns themselves, 206 homes were sold in Cortez, 25 in Dolores, and 22 in Mancos, McCabe said.<\/p>\n

\u201cI think we have a wonderful place down here. \u2026 We welcome that growth,\u201d Witt said.<\/p>\n

The sales reflect a swell of about 20% in Cortez and 29% in Mancos from the previous year, while Dolores saw a dip of about 10% for homes sold, McCabe said.<\/p>\n

Current inventory is scarce.<\/p>\n

Witt believes prices will \u201csoften a little bit\u201d this year, but he doesn\u2019t foresee a dramatic dip in home costs, in line with the laws of supply and demand.<\/p>\n

However, homes are beginning to experience slightly longer stays on the market, he said.<\/p>\n

McCabe remains uncertain about what real estate trends may emerge this year.<\/p>\n

\u201cMy crystal ball\u2019s broken,\u201d she said. \u201cWith the overall inflation rate going up it makes it a little hard to speculate what\u2019s going to happen,\u201d she said.<\/p>\n

This, along with elevated infrastructure costs, has left those desiring to enter the market \u201cleery,\u201d she said.<\/p>\n

\u201cThat makes it a little harder to make the decision to jump in and build because the cost of everything is up,\u201d she said.<\/p>\n

So far this year, 18 homes have sold in Montezuma County, with a median sales price of $292,450, McCabe said. For the same date range in 2021, 24 homes sold with a median sales price of $277,450.<\/p>\n

While it is still early in the year, this reflects a change of 5% in the median sales price.<\/p>\n

With an influx of city dwellers to the expanses of land in Montezuma County, McCabe placed an emphasis on developing relationships with local brokers.<\/p>\n

\u201cThere\u2019s nothing more local than real estate,\u201d she said.<\/p>\n

The housing market in Montezuma County is seeing an influx of people from more populous areas in the state, as well as outside of Colorado, McCabe and Witt said.<\/p>\n

McCabe said she receives numerous calls from agents on the Front Range.<\/p>\n

\u201cThese people, they have no clue about the area,\u201d she said.<\/p>\n

A newly transpiring trend is the conversion of agricultural land to residential land, which can be traced back to the lack of inventory, McCabe said.<\/p>\n

\u201cThe potential is there for development,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"

likely won\u2019t change much; rural lifestyle attractive to those leaving Front Range, Four Corners Board of Realtors president says <\/p>\n","protected":false},"author":1,"featured_media":42381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[28,453,167,60,29,614],"naviga_topic":[],"class_list":["post-42380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-headlines","tag-housing-and-urban-planning","tag-local-news-lead","tag-montezuma-county","tag-newsletter","tag-real-estate"],"acf":[],"author_name":"dh_admin","_links":{"self":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/42380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/comments?post=42380"}],"version-history":[{"count":1,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/42380\/revisions"}],"predecessor-version":[{"id":85315,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/42380\/revisions\/85315"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media\/42381"}],"wp:attachment":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media?parent=42380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/categories?post=42380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/tags?post=42380"},{"taxonomy":"naviga_topic","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/naviga_topic?post=42380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}