SUMMIT COUNTY MARKET STATS
January 2020
At just
over one month into the new year, Summit County real estate transactions have
slowed down. January ended with 81 residential transactions, a 7% decrease from
last year and over 50% decrease from last month. This drop in sales from
December to January is consistent with the flow of the local market for the
past 10 years. The average sales price for the past 3 months is $811,344;
this is just under last year’s average by 1%. The 3-month average price/square
foot, however, is 5% higher than last year’s at $498/sq.ft. Overall,
residential properties took 60 days to sell, on average, which is a 3% decrease
from last year.
Land
transactions slowed this month as well, with a total of 7 sales. This is 36% less
compared to last year but falls just below the average (8) for the past 10
years. The luxury market saw twenty $1 million+ transactions in January, the
exact same amount as last year. The highest sale was a Slifer Smith &
Frampton listing located in the Highlands subdivision in Breckenridge. This
5-bed/4.5-bath, 4,011 square-foot single family home sold for $2,445,000.
February
has already produced 16 residential sales and 1 land. There are 568 active
listings currently – 434 residential and 134 land – a 10% increase in inventory
compared to last year and 44% decrease compared to 5 years ago.
Data was collected from the MLS on 2/7/2020
