SUMMIT COUNTY MARKET STATS
February 2019
Although
a shorter month, there were eight more residential transactions in
February versus January of 2019, totaling over $76.5 million in sales. This is
a 17% increase in residential volume compared to February of last year.
Twenty-one of those transactions were over $1 million - a 50% increase from a
year ago - the highest of which sold for $3,995,000 in Breckenridge.
The
residential market continues to experience a healthy growth in price. The
average price of a residential property in Summit County increased 13% since
last February’s three-month average to $836,960. The average sold
price-per-square-foot is up 6% from 12 months ago at $496/square foot.
The
average cumulative days on market for residential properties has increased by
16% compared to last year; however this is 53% less than the average DOM over
the past five years. As February has come to a close, Summit County
continues its record-high sold vs list price percentage of 98% - a percentage
it has averaged since February of 2017.
February
was an active month with 228 new residential and land listings. Of those new
listings, 73 are already under contract, while 41 have sold as of February
28th. The current inventory as of March 1st is 534 properties, 389
accounting for residential properties and 145 homesites. Inventory is up 8%
from one year ago, and is more than half of what it was five years ago.
