Sunday, September 6, 2020
SUMMIT COUNTY MARKET STATS August 2020
August was another record setting month for Summit County real estate with 207 residential transactions totaling $272.1M in volume. This is a 38% increase in volume compared to August of 2019. Additionally, we saw 93 transactions over $1M, an increase of 60% compared to July 2019 and a 72% increase compared to last month. The highest sale was for $5,350,000, located in the Timber Trail subdivision in Breckenridge.
The average sales price for the month was $922,313, a 9% increase from last month and up 4% compared to August 2019. The average price/square foot for the month of August increased to $512/sq.ft., up 4% compared to July and even with August of 2019. The 3-month average for days on market for residential properties continues to decrease since the beginning to the year and now sits at 57. The residential list vs. sold price 3-month average has remained consistent for the last 6 months at 98%.
Land sales were at an all-time high for the month of August with 39 transactions, an increase of 290% compared to August 2019. Year-to-date, land transactions for 2020 are up 26% compared to 2019.
As of September 3rd, there were 536 active listings in Summit County of which 429 were residential and 107 were land. This is a decrease in inventory of 20% compared to the beginning of August and a decrease of 33% compared to the peak inventory we saw at the beginning of June. For all of Summit County, the month of August has already produced 19 closed transactions and 41 new pending transactions.
Data used in this write-up were collected from the MLS on 9/3/2020
Wednesday, August 5, 2020
The month of July concluded with 207 residential transactions totaling $175.5M in volume, the highest number of transactions and volume for the month of July in Summit County ever. This is a 37% increase in volume compared to July of 2019. Additionally, we saw 54 transactions over $1M an increase of 59% compared to July 2019 and more than double the number of $1M+ transactions we saw last month. The highest sale was a Slifer Smith & Frampton listing that sold for $3,750,000, located in Breckenridge.
The average sales price for the month was $847,794, a 4% increase compared to June. The average price/square foot for the month of July increased to $491/sq.ft., up 6% compared to June. The average days on market for residential properties for the month of July was 48, bringing the 3-month average down to 57, a decrease of 10% compared to last month’s 3-month average. The residential list vs. sold price 3-month average remains unchanged at 98%.
As of August 3rd, there were 673 active listing in Summit County of which 546 are residential and 127 are land. This is a decrease in inventory of 21% compared to the beginning of July and a decrease of 28% compared to beginning of August 2019. For all of Summit County, the month of August has already produced 26 closed transactions and 78 new pending transactions.
Data used in this write-up were collected from the MLS on 8/3/2020
Monday, April 6, 2020
Friday, March 27, 2020
Friday, March 6, 2020
SUMMIT COUNTY MARKET STATS
As we head into Spring, Summit County Real Estate transactions are beginning to pick up. February ended with 89 residential transactions, while this is a 9% decrease from last year, transactions are up 10% compared to last month. The average sales price for the past 3 months has continued to climb since October and is currently $838,464; this is 1% higher than the average at this time last year. The 3-month average price/square foot is $513/sq.ft, which is up 3% from January and 8% higher than February 2019. The 3-month average for days on market for residential properties is 76, 18% higher than the average a year ago, but has stayed consistent from January to February.
Land transactions are also slightly up this month, with a total of 8 sales. This is 14% increase compared to last year. The luxury market saw twenty-five $1 million+ transactions in February, an increase of 19% compared to this time last year and an increase of 84% compared to 5 years ago. The two highest sales in the month of February were $4,600,000 and were both located on Peak 8 in Breckenridge.
The month of March has already produced 14 residential sales in just five days. As of this write-up, there were 588 active listings – 462 residential and 126 land – a 10% increase in inventory compared to last year and 41% decrease compared to 5 years ago.
Wednesday, February 19, 2020
Data was collected from the MLS on 2/7/2020
Monday, January 13, 2020
Wednesday, January 8, 2020
SUMMIT COUNTY MARKET STATS
The Summit County residential market ended 2019 with a 37% increase in transactions for the month of December. The total for the year, however, was 1,797 – 3% lower than last year. The 3-month moving average sales price saw no change since 2018, but the overall average for 2019 is 7% higher. The average sold price/square foot is at an increase for December by 2% ($484/sq.ft.) as well as the 3-month moving average by 4% ($489/sq.ft.).
It took, on average, 86 days on market (DOM) for residential properties in December – a 48% increase versus last year. The average DOM for 2019 was only slightly longer than 2018, though (58 v 51 days). The luxury market showed strong activity for December, with 45 $1-million + transactions. This is 61% more than December of 2018. The year ended with a total of 406 transactions at this price point.
Overall, residential volume is higher for the month as well as the year compared to 2018, 37% and 6% respectively. There were 10 land transactions for December and 119 for the year. January 2020 is starting with 139 active land listings and 466 residential. This makes total inventory 16% higher than it was this time last year.