Friday, June 9, 2017

Summit County Market Stats May 2017


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.
There were 14 homesite sales this month, bringing the total for the year up to 53 transactions. Land

transactions are on the rise, up 43% over last year.

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