October 2018 : Summit County Real Estate Update.

The Market:
The average sold price remains strong and is up about 11%. Sales are bit slower and are at a decline of -8%. Properties are still selling fast at an average days on the market of 49 (in 2014 it was 140 days). The average percentage of list price to sold price is representative of a continued strong market at 98% (in 2014 it was 96%).

Condominium Sales:
Countywide sales are down about minus 12% while the average sold price for a condo is up plus 15%. In fact, Condominium sales are down in every town except Keystone (Keystone sales are the same as last year, exactly the same)! The average sold price for a condo in Summit County is $482,000 (in 2014 that average sold price was $327,000).

Home Sales:
The number of homes sold in Summit County has slowed but is still up by about 1.5%. The average sold price for a home is up almost 3%. Interesting that the average sold price for a home in Summit County is about $1.2 million (in 2014 it was $858,000).

Supply:
Over the last month the supply has remained about the same with around a 2.5 year supply of $3,000,000 plus priced properties, about a year supply of $1,500,000 to $3,000,000 priced properties, close to a 6 month supply of $1,000,000 to $1,500,000 priced properties, a short 3 to 4 month supply of $500,000 to $1,000,000 properties and a less than a two month supply of properties for sale under $500,000.

Average Sold Price from 2014 to today is up 48%. See the below graph showing each year’s average sold price for the residential sales 1/1 – 9/30 – Enjoy!

Introducing Our Partner in Breckenridge Colorado

Brian Donovan

Remax

970-390-9775

bdonovan@gmail.com

“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!”