Tuesday, July 13, 2021

Summit County Market Stats June 2021

 

SUMMIT COUNTY MARKET STATS 

June 2021 

 

 

As we head into Summer, Summit County Real Estate has continued to break records. During the month of June, we saw 204 residential transactions, totaling $217.8M in volume, a 76% increase in transactions and a 130% increase in volume compared to 2020. Land transactions are up 110% year-to-date, with 86 closings so far this year. The luxury market continues to expand with 69 properties closing for over a million dollars each, a 176% increase compared to a year ago. To cap off the month, Summit County saw the highest residential sale ever, with a $17,000,000 closing in Breckenridge.  


The 3-month average residential sales price has continued to climb since January and now sits at  $1,081,005. This is a 33% increase in average sales price compared to a year ago. The 3-month average price/square foot is now at $654, also up 33% compared to last year. With lower inventory levels and a competitive market, the average days on market continues to fall, now at 20 days for the 3-month average. Also a product of the competitive market, the residential list vs. sold price has been steadily climbing since last summer and is currently at 102%, this is an increase of 4% compared to a year ago. 

 

As of July 5th, there were 255 active listings in Summit County, of which 224 are residential and 31 are land. While this is a decrease in inventory of 70% compared to July 2020, it is an increase of 73% compared to the inventory low seen at the beginning of April 2021. 

 

 

 Data used in this write-up were collected from the MLS on 7/5/2021 

Monday, May 10, 2021

Wednesday, March 31, 2021

SUMMIT COUNTY MARKET STATS February 2021

Even with record low inventory, Summit County real estate transactions have remained strong. During the month of February, we saw 114 residential transactions, totaling $121.1M in volume, a 28% increase in transactions and a 49% increase in volume compared to 2020. Land transactions were up 125%, with 18 closings during the past month.

The luxury market is also holding strong with 38 properties closing for over a million dollars, a 52% increase compared to a year ago. The highest sale was for a new construction single family home that sold for $4,999,000, located in the Shock Hill Subdivision in Breckenridge.

The average residential sales price has continued to climb and surpassed one million dollars in the month of February, now sitting at $1,061,863 for the month and $974,324 for the 3-month moving average. This is a 16% increase in average sales price compared to a year ago. The 3-month average price/square foot is now at $598, up 17% compared to last year. With limited inventory the average days on market continues to fall, now at 57 days for the 3-month average. The average residential list vs. sold price remained unchanged compared to January at 100%, this is an increase of 3% compared to a year ago.

As of March 3rd, there were 154 active listings in Summit County, of which 133 are residential and 21 are land. This is a decrease in inventory of 6% compared to a month ago and a 74% decrease compared to a year ago.

Data used in this write-up were collected from the MLS on 3/3/2021 

Thursday, February 18, 2021

Friday, February 5, 2021

January 2021 Monthly Market Statistics - Summit County


SUMMIT COUNTY MARKET STATS

January 2021

As we kickoff the New Year in Summit County we continue the trend of strong real estate numbers. In the first month of the year, we saw 109 residential transactions, totaling $101.44M in volume, a 35% increase in transactions and a 58% increase in volume compared to January of 2020. Land transactions were up 57% compared to a year ago with 11 closings during the past month.

The luxury market also continues to trend upward with 31 properties closed for over a million dollars, a 55% increase compared to a year ago. The highest sale was a Slifer Smith & Frampton listing that sold for $4,850,000, located in the Timber Trail Subdivision.

The 3-month average residential sales price continues to climb, now at $947,491, 17% higher than a year ago. The 3-month average price/square foot is now at $583, up 17% compared to last year. With limited inventory the average days on market continues to fall, sitting at 31 days for the month of January. The average residential list vs. sold price hit 100% in January.

As of February 3rd, there were 164 active listings in Summit County, of which 145 are residential and 19 are land. This is a decrease in inventory of 13% compared to a month ago and a 71% decrease compared to a year ago.

Data used in this write-up were collected from the MLS on 2/3/2021

Sunday, January 17, 2021

Monday, January 4, 2021

Summit County Market Stats - December 2020

 

SUMMIT COUNTY MARKET STATS

December 2020

Summit County closed out 2020 on a high note with record setting Real Estate numbers. In the last month of the year, we saw 195 residential transactions, totaling $181.45M in volume, a 13% increase in transactions and a 31% increase in volume compared to December of 2019. For the entire year, 2020 residential transactions were 20% higher than the previous year and volume for the year was approximately $1.95 billon, a 35% increase compared to 2019. $1million+ transactions year-to-date concluded with 51% more transactions than 2019.

The 3-month average residential sales price closed out the year at $931,240, 18% higher than the end of 2019. During the month of December, the average price/square foot hit an all-time record of $604, 25% higher than this time last year. The 3-month average for days on market for residential properties in December was down 12% compared to 2019, now at 64. The residential list vs. sold price 3-month average remains strong at 99%.

There were 25 land transactions during the month, more than double the number seen in December 2019. Year-to-date land transactions concluded with 215, the most land transactions ever seen in one year.

As of January 4th, there were 186 active listings in Summit County, of which 152 are residential and 34 are land. This is a decrease in inventory of 22% compared to the beginning of December, a 78% decrease compared to the peak inventory we saw at the beginning of July and a record low for the past 13 years. 

Data used in this write-up were collected from the MLS on 1/4/2021