Wednesday, August 5, 2020

Summit County Market Stats - July 2020

July 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