The trend of record setting Real Estate in Summit County has continued through the month of October with 360 residential transactions totaling $317.4 in volume. This is a 3% increase in volume compared to last month and a 118% increase compared to October of 2019, more than double the volume we saw a year ago. Additionally, we saw 89 transactions over $1M, an increase of 117% compared 2019. $1 million+ transactions year-to-date are 44% higher than 2019. The highest sale in October was for $4,800,000 located in the Timber Trail subdivision in Breckenridge.
The 3-month average sales price now sits at $935,603, 14% higher than this time last year. The 3-month average price/square foot has also increased, now at $522/sq.ft., a 5% increase compared to 2019. The 3-month average for days on market for residential properties is 65. The residential list vs. sold price 3-month average has increased 1% and is now at 99%.
There were 31 land transactions during the month of October, an increase of 55% compared to 2019. Year-to-date, land transactions for 2020 are up 55% compared to 2019.
As of November 3rd, there were 294 active listings in Summit County of which 224 were residential and 70 were land. This is a decrease in inventory of 21% compared to the beginning of October and a 66% decrease compared to the peak inventory we saw at the beginning of July. For all of Summit County, the month of November has already produced 27 closed transactions and 20 new pending transactions.
Data used in this write-up were collected from the MLS on 11/3/2020
