Summit County Market Stats - August 2019

SUMMIT COUNTY MARKET STATS August 2019 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.