SUMMIT COUNTY MARKET STATS
Summit County produced 169 residential transactions this month. Residential transactions are up 13% compared to last year, while the year-to-date (YTD) total of 1,614 transactions is down by 6%. The highest number of transactions we’ve seen in November over the last 10 years, occurred in 2017 when the YTD total was 1,821. The residential average sales price has swung back up by 15% this month to $831,097. The moving average continues to be the highest it’s been compared to previous years. For November, this 3-month moving average is $800,557, which is 8% higher than last year and 59% higher than it was 5 years ago.
Luxury transactions have also been at their peak throughout 2019. By the end of November, there were 361 $1 mil+ transactions – this is the largest YTD total we’ve had in the luxury segment at this time of year. The highest sale for November was a Slifer Smith & Frampton listing in Breckenridge that sold for $5,200,000. Numbers are also high for the overall volume of residential transactions. November produced $140,455,400 in residential sales (19% higher than last year), which contributed to the $1,311,002,045 yearly total (a 3% increase since last year).
Land transactions, on the other hand, were low this month. November produced 4 land sales, making the YTD total 107 – this is a 33% decrease compared to last year. As we head into the last month of the quarter, there are 506 residential listings and 153 land, making our inventory 21% higher than it was a year ago.