SUMMIT COUNTY MARKET STATS
As the 3rd quarter ends, residential transactions have totaled 176 for September and 1,243 for the year. Both numbers show a decrease from last year (9% and 8% respectively). Despite a decrease in number of residential transactions for the year, overall volume is up by 4% totaling $1,025,112,846. The moving average for residential sales price continues to stay above $800K, landing at $844,620 for the month of September. The monthly average sales price, $850,606, beats September of 2018 by 23%. This increase is reflected in the sold price/sq.ft. as well, with the moving average at $501 – a 9% increase compared to last year.
The list versus sold price dropped a percentage since last month but holds at 98% for the quarter. The average days to sell for this quarter is 50, an average of 7 days longer compared to last year (a 17% increase). However, the highest sale for the month took fewer days to sell than the average at 30 days and sold for 76% more than the highest sale this time last year. This was Jeff Moore’s Shock Hill listing which sold for $4,575,000. This transaction contributed to the 281 total luxury transactions for the year, an 8% increase from September 2018.
The 4th quarter begins with 916 active residential and land listings. This is more inventory than this time last year by 40%. The number of active residential listings have stayed above 700 since this past July; this is an amount we haven’t seen since October of 2015, which started with 752 active residential listings. Land inventory is at 175 for the month and has remained under 200 since October of last year.
Friday, October 18, 2019
Saturday, October 5, 2019
SUMMIT COUNTY MARKET STATS
August produced 223 residential transactions and 10 land sales in Summit County, Colorado. This represents a 12% increase in residential transactions compared to last year and a 39% increase since last month. The year-to-date (YTD) total trails behind, however, by -5% compared to what it was August of last year. Although total residential transactions are down for the year, the average sales price is up by 2% at $885,628, this goes for the 3-month moving average as well. Coinciding with that, the average price/sq.ft. continues to rise: $513 for the month of August (a 6% increase since last year).
On average, residential properties took 52 days to sell. This is a 6% increase compared to last year, but an 18% decrease from last month. The 3-month moving average for list-versus-sold percentage has maintained 98% for 30 months straight now. Meanwhile, the luxury segment continues to rise. $1 million+ residential transactions increased by 7% versus last year, and YTD transactions are up by 3%, totaling 239 luxury sales for 2019 thus far. The highest of these sales for August was 216 Peerless Drive in Shock Hill, which sold for $4.9 million.
Overall residential volume is also on the rise. The grand total for August is $197,495,066 (a 15% increase) and $875,406,106 for the year (a 1% increase). September starts with 960 land and residential listings, the highest that we’ve seen in Summit County since inventory was 1,005 in August of 2016.