The Market: Prices are still rising and properties are selling faster and faster. The average residential sold prices rose 5% as compared to last year at the same time and the average days on the market is a very low 54 Days! In fact, the other part of the local market that is on the rise is the average percentage of list price to sold price which is a very high 98.5%.
New construction sales are very strong and now represent about 11% of the total sold market so far in 2018. As a comparison at this time in 2017 new construction sales represented about 6% of the gold market. Taking a look at what is under contract in Summit County today 34% of the properties are new construction. Some will close in 2018 and some will close in 2019 or perhaps later, but the average list price for those properties is over $1,100,000.
The number of sales is currently down throughout most of the county with the only two locations with an increase in sales being Silverthorne and Keystone. Interesting that the 22% increase in Silverthorne can be attributed almost entirely to new construction. The same can be said for Keystone except that without the new construction sales in Keystone this year the Keystone sales would be down about 15% instead of up by 2%.
Introducing Our Partner in Breckenridge Colorado
“Working with both Buyers and Sellers has given me the opportunity to meet and become friends with some great and interesting people.I feel extremely fortunate to be a part of the Breckenridge communty!”