Monday, January 13, 2020

Summit County Slifer Report - 2019 Annual Market Review


 


 

To help keep you well informed in this ever changing marketplace, The Slifer Report offers a comprehensive look into market performance in each of our unique mountain communities.

Please feel free to contact me for more detailed information on any neighborhood within Summit County.
*Data gathered is from Land and Residential sales from 1.1.19 through 12.31.19.  Source of all data in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. 


Wednesday, January 8, 2020

Summit County Market Stats December 2019


SUMMIT COUNTY MARKET STATS
December 2019
 
The Summit County residential market ended 2019 with a 37% increase in transactions for the month of December. The total for the year, however, was 1,797 – 3% lower than last year. The 3-month moving average sales price saw no change since 2018, but the overall average for 2019 is 7% higher. The average sold price/square foot is at an increase for December by 2% ($484/sq.ft.) as well as the 3-month moving average by 4% ($489/sq.ft.).
 
It took, on average, 86 days on market (DOM) for residential properties in December – a 48% increase versus last year. The average DOM for 2019 was only slightly longer than 2018, though (58 v 51 days). The luxury market showed strong activity for December, with 45 $1-million + transactions. This is 61% more than December of 2018. The year ended with a total of 406 transactions at this price point.
 
Overall, residential volume is higher for the month as well as the year compared to 2018, 37% and 6% respectively. There were 10 land transactions for December and 119 for the year. January 2020 is starting with 139 active land listings and 466 residential. This makes total inventory 16% higher than it was this time last year.

Wednesday, December 18, 2019

SUMMIT COUNTY MARKET STATS November 2019


SUMMIT COUNTY MARKET STATS
November 2019
 
Summit County produced 169 residential transactions this month. Residential transactions are up 13% compared to last year, while the year-to-date (YTD) total of 1,614 transactions is down by 6%. The highest number of transactions we’ve seen in November over the last 10 years, occurred in 2017 when the YTD total was 1,821. The residential average sales price has swung back up by 15% this month to $831,097. The moving average continues to be the highest it’s been compared to previous years. For November, this 3-month moving average is $800,557, which is 8% higher than last year and 59% higher than it was 5 years ago.
 
Luxury transactions have also been at their peak throughout 2019. By the end of November, there were 361 $1 mil+ transactions – this is the largest YTD total we’ve had in the luxury segment at this time of year. The highest sale for November was a Slifer Smith & Frampton listing in Breckenridge that sold for $5,200,000. Numbers are also high for the overall volume of residential transactions. November produced $140,455,400 in residential sales (19% higher than last year), which contributed to the $1,311,002,045 yearly total (a 3% increase since last year).
 
Land transactions, on the other hand, were low this month. November produced 4 land sales, making the YTD total 107 – this is a 33% decrease compared to last year. As we head into the last month of the quarter, there are 506 residential listings and 153 land, making our inventory 21% higher than it was a year ago.

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.