The Market: The Average Sales Price through September 30, 2017 as compared to the same time period in 2016 is up 18% for residential sales in Summit County, CO! The number of sales has increased by 3.5%. Watch the above video to learn about each town and more. Oh, and 54% of residential sales in Summit County are over $500,000!
Homes: So, what does a home cost today in Summit County? The average sold price is just under $1.2 Million for a single family home. Three bedroom homes are averaging $840,000 and if one wants a 5 bedroom home their averaging $1,750,000. For a newer home built 2010 and newer the average sold price is $1.6 Million and for one built 2009 and older the average sold price is $1 Million.
Condos: The average purchase price for a condo in Summit County is $420,000. Of course, the price does vary by bedroom size with a 1 bedroom at an average of $300,000, 2 bedrooms at an average of $450,000 and 3 bedrooms averaging $600,000. Condos built 2000 and newer are averaging $687,000 and those built 1999 and older are averaging $380,000.
Town Homes: Something in between a home and a condo will cost an average of $670,000 in Summit County. One can get into a 2 bedroom for an average of $445,000, a 3 bedroom for an average of $720,000 and a 4 bedroom for an average of $900,000. Town homes built prior to 2000 are averaging a sold price at $600,000 and those built 2000 and up are averaging $835,000.
Interesting: The peak selling year for residential sales from 1/1-9/30 was 2006. Today the county is witnessing strong sales, yet those sales would have to increase by 28% to equal 2006’s. And, yet, the 2006 average sold price would have to increase 52% to equal the average sold price today.
All the above prices are average sold prices for sales this year between 1/1 – 9/30.