Tuesday, December 11, 2018
Summit County Market Stats November 2018
SUMMIT COUNTY MARKET STATS
November 2018
After a
robust October, the Summit County real estate market experienced a slowdown in
closings during November with 145 residential transactions totaling $117.9
Million. Compared to October, November transactions decreased from 224 to 145.
Relating this November with November of 2017, transactions and dollar volume
are down 20% and 10% respectively. Year-to-date, the Summit County real estate
market is experiencing a 9% decrease in residential transactions with 1,655
total transactions so far. Even with the slowdown in transactions, sales
volume of $1.3 Billion is nearly the same.
Despite
lower sales numbers, strong buyer demand is influencing other factors that
indicate a healthy real estate market. The three month average of residential
price per square foot ($476) is up 9% from 12 months ago. The average number of
days on market remains low (53 days), and residential sold vs. list price has
stayed at 98% for the last 3 years. Land sales are up 4% with 146 total
transactions and sales of properties $1 Million and above are up 9%, totaling
261 transactions.
As of December 1st,
the inventory in Summit County consists of 545 active listings which accounts
for 394 residential properties and 151 homesites. Broken out by area
(residential and land combined) this reflects 228 in Breckenridge, 27 in
Copper, 28 in Dillon, 27 in Frisco, 76 in Keystone and 159 in Silverthorne.
Summit County inventory fell by approximately 14% since the beginning of last
month. This seasonal reduction in inventory may be influenced by sellers taking
their home off the market to take advantage of rental income in the winter.
Monday, September 24, 2018
Sunday, August 12, 2018
Summit County Market Stats July 2018
SUMMIT COUNTY MARKET STATS
July 2018
So far in 2018, the number of residential closings in Summit County has tracked slightly below last year. There were 178 residential closings in July bringing the year-to-date total to 913, which is 4% behind 2017. The dollar volume generated from these transactions was tracking similarly until robust sales volume in July brought the year-to-date total to $691 Million, surpassing last year by 5%.
July alone produced $147 Million in residential volume, an
astounding 57% increase over last July. Attributing to this increase were 41
closings of luxury properties $1 million and above, the highest number seen in
any given month in Summit County’s history. The total number of luxury
transactions for the year is 177, a 7% increase over 2017.
Another factor influencing the increase in sales volume is
rising property values. The three-month average price of a residential property
is $738,603 which has jumped 19% compared to 12 months ago. July saw the
highest sale of the year at $4,700,000.
As of August 1 available inventory in Summit County reached the highest point of the year so far, but at 740 residential and land listings there is still 11% less available inventory than there was 12 months ago. Broken out by area, this includes 363 listings in Breckenridge, 34 in Copper Mountain, 36 in Dillon, 29 in Frisco, 105 in Keystone and 173 in Silverthorne.
Saturday, July 14, 2018
Summit County Market Stats June 2018
SUMMIT COUNTY MARKET STATS
June 2018
July 1 marks the end of the second quarter of 2018 and the start
to what projects to be a busy selling season. During the month of June there
were 171 residential real estate transactions in Summit County. This is 5%
decrease compared with a flourishing market in 2017. While total transactions
were down compared to twelve months ago, sales volume is up 9% totaling
$127,480,397 this month and $543,856,420 year-to-date.
Also important to note of these 171 transactions, 39 closed in
the luxury category of $1 Million and above. This is a 117% jump from just 18
luxury closings in June 2017. Sales in this price segment have more than
doubled this month and have had steady growth since February.
The significant increase in sales volume compared to the number
of transactions has pushed the average sales price higher. The three month
average of residential sales price is approximately $738,608 compared to
$700,000 in June 2017. On average, properties are selling for 98% of list price
and in an average of just 39 days.
As of July 1, there are 723 properties for sale in Summit County including 527 residential properties and 196 homesites. With an uptick of inventory in each town coupled with a 10-year low days to sell, we should expect to see Summit County real estate continue to thrive in the summer months to come.
Wednesday, June 13, 2018
Thursday, May 10, 2018
April Market Stats
SUMMIT COUNTY MARKET STATS
April 2018
As
Summit County transitions into spring, residential real estate transactions are
on the rise after a comparatively slow start to 2018. There were 131
residential transactions this month, up 7% since the previous April and up 27%
from just last month. The residential sales volume represents a corresponding
4% increase from April 2017 and 29% rise since March 31. Residential dollar
volume year-to-date totals $304,212,400 as of April 30.
Of the
131 residential transactions this month, over 15% have been luxury homes of $1
million or more and 3 properties closed over $3 million. We are beginning to
see sales prices rise in the luxury market, with the highest sale this month at
$3,999,000 illustrating a 34% increase compared to 12 months ago. Growth in
this market segment is pushing average property values higher.
With
climbing values coupled with low inventory, we are also seeing a significant
jump in the land market. There were 19 land transactions this month,
demonstrating a 90% increase compared to last April. Year- to-date land sales
are up 62% from the previous year.
However, for both residential and land, inventory is beginning to rise in anticipation of the summer sales season. As of May 1, there were 553 residential and land properties on the market, up 11% since April 1. With the uptick in inventory and the days on market 3-month moving average still low, we will hope to see both transactions and sales volume continue to grow in the summer months ahead.
Wednesday, May 2, 2018
Thursday, April 5, 2018
Summit County Market Stats March 2018
SUMMIT COUNTY MARKET STATS
March 2018
March
signals the end of the first quarter of 2018. To date, the Summit County real
estate market is experiencing a decrease in sales transactions and volume of
approximately 12% compared to last year. While January and February sales were
on pace with the prior year the market experienced a significant slowdown in
March where there were 95 residential transactions totaling $66.2 million in
sales volume. Although March sales transactions increased over February (from
87 to 95), compared to March of 2017 transactions and dollar volume are down
32% and 40% respectively.
While
March of 2017 was a record-setting month, this year over year drop in sales
indicates that low inventory is influencing the pace of sales as supply is
unable to meet buyer demand. As of April 1st, the inventory in
Summit County consists of 521 active listings which accounts for 349
residential properties and 172 homesites. Broken out by area this reflects 231
listings in Breckenridge, 36 in Copper, 11 in Dillion, 27 in Frisco, 87 in
Keystone and 129 in Silverthorne.
Despite low sales volume, buyer demand is affecting other factors in the market including price per square foot, days on market and sold vs. list price percentage. The three month average of residential price per square foot is $467, up 7% from 12 months ago. Days on market are down 33% to 59 average days to sell, and average sold price vs. list price remains steady at 98%. This demonstrates that residential properties are still commanding higher prices and moving quickly.
Sunday, March 11, 2018
Monday, March 5, 2018
Thursday, February 22, 2018
January Real Estate Update in the Summit Daily News
Click on the link below to the January Real Estate Update in the Summit Daily News
https://www.summitdaily.com/news/summits-most-expensive-house-in-january-tops-3-million/
https://www.summitdaily.com/news/summits-most-expensive-house-in-january-tops-3-million/
Sunday, February 18, 2018
Tuesday, February 6, 2018
Thursday, February 1, 2018
The Slifer Report, An Analysis of Real Estate Activity in Summit County
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Below you will find a link to our popular market overview, The Slifer Report. Our Annual Market Review is an in-depth review of how the market performed in the last calendar year. The report is broken down by Summit County area so you can easily find how the market performed in your neighborhood. http://www.summitcountyhome.com/the-slifer-report/ |
Monday, January 29, 2018
Tuesday, January 23, 2018
The most expensive home sold in Summit County in 2017 went for $6.1 million.
Click on the Summit Daily News article link below for a 2017 real estate update:
https://www.summitdaily.com/news/priciest-2017-home-sale-for-summit-county-topped-6-million/
https://www.summitdaily.com/news/priciest-2017-home-sale-for-summit-county-topped-6-million/
Saturday, January 20, 2018
Sunday, January 14, 2018
Saturday, January 13, 2018
Wednesday, January 10, 2018
Monday, January 8, 2018
Saturday, January 6, 2018
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