November Market Insider

SUMMIT COUNTY MARKET STATS October 2019

SUMMIT COUNTY MARKET STATS October 2019   The Summit County real estate market for October included 202 residential and 20 land transactions. This is a 10% decrease from last year for residential and a 25% increase for land sales. The average sales price for residential properties is significantly lower compared to last month, at $719,969 - a $103k + decrease. Forty percent of residential transactions were under $500,000. However, 15 sales (7% of total residential sales) from this month came from deed restricted properties, mainly in the new local’s development at Smith Ranch. The 3-month-moving average shows the average sale price holding steady above $800k – a 7% increase from last year. The average sold price/square foot continues to hover around $500/sq.ft. The average for October is $483 (a 6% increase) and the average for the past 3 months is $496 (a 4% increase).   Transactions in the luxury segment have increased since last year by 5% and are 7% higher than last year’s YTD total for October. Once again, the highest sale was a Slifer Smith & Frampton listing. This property is from the Gold Flake subdivision in Breckenridge and sold for $3,300,000. It took 58 days to sell, which is right above this month’s average of 52 days. The overall residential sales volume is 15% less than that of last year at $145,433,799. However, the yearly total is ahead by 1%.   As of November 9th, Summit County has 764 active listings, which includes 598 residential and 166 land. Our real estate inventory is 18% higher than it was this time last year.