Durango’s housing market is experiencing notable shifts, with recent data indicating a median sale price of $705,000, reflecting a 4% increase over the past year. Homes are now averaging 26 days on the market, up from 18 days previously, suggesting a slight cooling in the market’s pace.
In response to the growing demand for affordable housing, several initiatives are underway. The City of Durango has partnered with Twin Buttes of Durango to develop workforce housing at 271 Twin Buttes Avenue, the former site of Animas High School. This project plans to offer 29 for-sale townhome and duplex units, maintained as permanently affordable through a land trust model.
Another significant development is the Durango Crossings project, a mixed-use and high-density housing initiative located south of Florida Road at its intersection with County Road 250. The project proposes 149 residential units, including condominiums, townhomes, and apartments, with at least 50% designated as workforce housing for locals earning 70-120% of the area median income.
To further support affordable housing, the City of Durango has been awarded $1.55 million through the Proposition 123 Land Banking program. These funds will aid in acquiring land within the Rivergate Planned Development, facilitating the construction of approximately 50 townhomes, all deed-restricted to benefit the local workforce.
These developments and initiatives reflect a concerted effort to address housing affordability and availability in Durango, aiming to create a more inclusive and sustainable community for all residents.