Summit County Market Stats March 2017

SUMMIT COUNTY MARKET STATS

March 2017

During the first quarter of 2017 the Summit County real estate market experienced a profound increase in sales activity. Closed residential transactions totaled 322 sales and $239 Million in sales volume. This represents a 22% increase in the number of sales and a 46% increase in sales volume.

March sales were particularly robust, with sales volume up 58% over last March. Also noteworthy is the significant increase in sales of residential properties $1 Million and above. There have been 71 sales in this price segment during the first quarter, a 137% spike compared to the first quarter of 2016. Land sales have also seen an uptick after a slowdown in 2016. To date, 29 homesites have sold in Summit County compared to 17 in the same timeframe last year.

The Summit County real estate market continues to see steady year-over-year increases in price. The three month average of residential sales price is currently $736,068. One year ago the average was 20% less, or $616,834. Average sold price per square foot has risen similarly, currently $434 per foot for a residential property. On average, properties are achieving 98% of list price and closing in a timeframe of approximately 3 months (88 days).

Available inventory remains historically low, with just 561 residential and land properties on the market in the county as of April 1. Broken out by area, this accounts for 267 in Breckenridge, 37 in Copper, 19 in Dillon, 12 in Frisco, 115 in Keystone and 111 in Silverthorne.