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.
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Thursday, November 14, 2019
SUMMIT COUNTY MARKET STATS October 2019
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