SUMMIT COUNTY MARKET STATS
May 2017
The
real estate market in Summit County continues to flourish as the busy summer
season approaches. Transactions and sales volume for May soared to the highest
levels in 10 years. During May there were 166 residential closings totaling
$120 million. Total sales volume for the year reached $449 million this month,
pacing 37% above 2016.
Alternatively,
inventory is at a record low for the past decade even though levels rose
modestly in both April and May. As of June 1, 701 Summit County residential and
land properties were on the market. Broken out by area, this includes 347 in
Breckenridge, 43 in Copper, 31 in Dillon, 42 in Frisco, 103 in Keystone and 135
in Silverthorne.
The
three month average of residential sales price is $745,323. Average values have
risen nearly 20% from 12 months ago when the average was $627,985. Average
price per square foot is up 15% to $432 and properties are closing at an
average of 98% of list price.
Of the
611 residential sales in 2017 so far, 128 were of luxury properties selling for
$1 million or more, accounting for 20% of all sales. The number of luxury
transactions has more than doubled since last year.
transactions are on the rise, up 43% over last year.
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