Thursday, November 14, 2019

November Market Insider


SUMMIT COUNTY MARKET STATS October 2019


SUMMIT COUNTY MARKET STATS
October 2019
 
The Summit County real estate market for October included 202 residential and 20 land transactions. This is a 10% decrease from last year for residential and a 25% increase for land sales. The average sales price for residential properties is significantly lower compared to last month, at $719,969 - a $103k + decrease. Forty percent of residential transactions were under $500,000. However, 15 sales (7% of total residential sales) from this month came from deed restricted properties, mainly in the new local’s development at Smith Ranch. The 3-month-moving average shows the average sale price holding steady above $800k – a 7% increase from last year. The average sold price/square foot continues to hover around $500/sq.ft. The average for October is $483 (a 6% increase) and the average for the past 3 months is $496 (a 4% increase).
 
Transactions in the luxury segment have increased since last year by 5% and are 7% higher than last year’s YTD total for October. Once again, the highest sale was a Slifer Smith & Frampton listing. This property is from the Gold Flake subdivision in Breckenridge and sold for $3,300,000. It took 58 days to sell, which is right above this month’s average of 52 days. The overall residential sales volume is 15% less than that of last year at $145,433,799. However, the yearly total is ahead by 1%.
 
As of November 9th, Summit County has 764 active listings, which includes 598 residential and 166 land. Our real estate inventory is 18% higher than it was this time last year.

 

Friday, October 18, 2019

SUMMIT COUNTY MARKET STATS September 2019


SUMMIT COUNTY MARKET STATS
September 2019
 
As the 3rd quarter ends, residential transactions have totaled 176 for September and 1,243 for the year. Both numbers show a decrease from last year (9% and 8% respectively). Despite a decrease in number of residential transactions for the year, overall volume is up by 4% totaling $1,025,112,846. The moving average for residential sales price continues to stay above $800K, landing at $844,620 for the month of September. The monthly average sales price, $850,606, beats September of 2018 by 23%. This increase is reflected in the sold price/sq.ft. as well, with the moving average at $501 – a 9% increase compared to last year.
 
The list versus sold price dropped a percentage since last month but holds at 98% for the quarter. The average days to sell for this quarter is 50, an average of 7 days longer compared to last year (a 17% increase). However, the highest sale for the month took fewer days to sell than the average at 30 days and sold for 76% more than the highest sale this time last year. This was Jeff Moore’s Shock Hill listing which sold for $4,575,000. This transaction contributed to the 281 total luxury transactions for the year, an 8% increase from September 2018.
 
The 4th quarter begins with 916 active residential and land listings. This is more inventory than this time last year by 40%. The number of active residential listings have stayed above 700 since this past July; this is an amount we haven’t seen since October of 2015, which started with 752 active residential listings. Land inventory is at 175 for the month and has remained under 200 since October of last year.

Wednesday, October 9, 2019

Saturday, October 5, 2019

Summit County Market Stats - August 2019

SUMMIT COUNTY MARKET STATS
August 2019

August produced 223 residential transactions and 10 land sales in Summit County, Colorado. This represents a 12% increase in residential transactions compared to last year and a 39% increase since last month.  The year-to-date (YTD) total trails behind, however, by -5% compared to what it was August of last year. Although total residential transactions are down for the year, the average sales price is up by 2% at $885,628, this goes for the 3-month moving average as well. Coinciding with that, the average price/sq.ft. continues to rise: $513 for the month of August (a 6% increase since last year).

On average, residential properties took 52 days to sell. This is a 6% increase compared to last year, but an 18% decrease from last month. The 3-month moving average for list-versus-sold percentage has maintained 98% for 30 months straight now. Meanwhile, the luxury segment continues to rise. $1 million+ residential transactions increased by 7% versus last year, and YTD transactions are up by 3%, totaling 239 luxury sales for 2019 thus far. The highest of these sales for August was 216 Peerless Drive in Shock Hill, which sold for $4.9 million.

Overall residential volume is also on the rise. The grand total for August is $197,495,066 (a 15% increase) and $875,406,106 for the year (a 1% increase). September starts with 960 land and residential listings, the highest that we’ve seen in Summit County since inventory was 1,005 in August of 2016.