SUMMIT COUNTY MARKET STATS
March
2020
Summit County Residential Real Estate
transactions have stayed steady through the month of March. The month concluded
with 92 residential transactions, an increase of 7% compared to March of last
year, and up 3% compared to February. The average sales price for the past 3
months has continued to climb since the New Year and is currently at $854,476; this
is just 1% lower than the average at this time last year. The 3-month average
price/square foot continues to rise as well and is currently $559/sq.ft, up 3%
from last month and 16% higher than March 2019. The 3-month average for days on market for
residential properties is 73, down 4% compared to last month’s average. Also notable with the downward trend in DOM,
we also saw an uptick of 1% in the residential sold vs list price 3-month
average, now sitting at 98%.
Land transactions stayed consistent
from February to March, with a total of 8 sales. This is equal to the number of
land transactions we saw in March of 2019. The luxury market saw twenty-six $1 million+ transactions
in March, an increase of 15% compared to this time last year and an increase of
37% compared to 5 years ago. The highest sale in the month of March was
$3,965,000, located in the Cottages at Shock Hill in Breckenridge.
As of April 2nd, the month
has already produced 7 residential sales. As of this write-up, there were 675
active listings – 547 residential and 128 lands – a 14% increase in inventory
compared to last year and a 15% increase compared to last month.
*Data
used in this write-up were collected from the MLS on 4/2/2020*
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