Summit County Colorado Real Estate Sales Update

Consider this...

Our local real estate market is up 20% in the number of residential sales this year with a 19% improvement on the North Side and a 21% improvement on the South Side. The 'consider part' is that this year is the fourth year in a row of strong market improvement in sales numbers!

The number of properties that are under contract are up 9% and the number of available properties to purchase are down 9%. Fewer properties to buy and, yet, more sales - a good ratio. Interesting that the median days on the market in the U.S. is 79 and our local median days on the market is 121. The average number of days to get a property sold in Summit County today is 260 (last year that average was 327).

In one of our earlier updates this fall the nation on average had about a 4 month supply of properties to sell and that supply was slowly increasing. Locally the supply is slowly decreasing and typically decreases through the end of the year and after the first of next year the inventory typically increases. Looking at just the hard numbers for residential properties for sale today says that we have a little less than a 1 year supply (11 months) of properties for sale.

Another question. Is the current inventory of properties for sale at an all time low? No. Roughly Oct 2005 through March of 2008 there was a lower supply than what we have today. In fact, for about a 12 month period there were about half as many properties for sale as what we have today. These are numbers pulled from our Fusion (local MLS System).

Updated Market Stats!

All the market stats have been updated through October 4th for Condominium sales, Single Family Home sales, Vacant Land sales, Townhome sales and Duplex sales. The graphs and numbers are very interesting.

Condo Sales

Home Sales

Vacant Land Sales

Townhome Sales

Duplex Sales

RE/MAX Sells more....

Check out the top firms link here Top Firms  to view the graphs that clearly show RE/MAX Properties of the Summit's dominance of the Summit County market. In fact, our market penetration is still improving.

Summit County Sales Holding at a19% Gain!

Reading last year's "How's the Market Update" at this time of year (Sept 3, 2012) - "Best week of 2012 so far and beating the best week of 2011 with 56 listing NUCs this past week and beating the same week of 2011 by 17%! Now that's forward momentum. The county's under contract activity is up 12%..."
 

Interesting: This last weeks Under Contract activity wasn't as robust as last year for the same week (this year last week's UC activity was down 39%).
 

23% represents the improvement in the total number of properties Under Contract today over the same time last year! Still a good improvement and yet down from a 36% improvement last week and a 39% improvement the week before that...the county's available inventory looks to have peaked the last week of July/1st week of August this year; which is early by two three weeks and the under contract totals may be following the same peaking a few weeks early trend we are witnessing this year.
 

It will be very interesting to see what happens over the next 6 weeks.
 

Active listings are down 11%.
 

Sold activity is up 19% in Summit County with a slight change in the North Side coming down to an 18.4% improvement and the South Side moving up to a 19.7% gain...average sold prices are down county wide, North Side and South Side - learn more here http://www.weeklyreactivity.com .

Jeff Angell Realtor, Manager, Owner RE/MAX Properties of the Summit/Frisco Market Info:  http://ecoloradohomes.com Find Jeff on Facebook,  facebook.com/REMAX.PropertiesoftheSummit Search Real Estate here: http://ecoloradohomes.com The Stats Weekly Activity How's the Market Condo Sales Home Sales Vacant Land Sales Townhome Sales Duplex Sales Top Firms     RPOTS Market Summary 2012 *Sales Stats Updated August 2013

Source: SAR Data for Residential (Condo, Townhome, Home, Duplexes) in Summit County, Colorado. Unless otherwise specified. **The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important.

North Side consists of the combined sales data from Frisco, Copper Mountain, Silverthorne, Dillon and Keystone and the South Side consists of all sales data from Breckenridge.

What a Market! Summit County Resort Market Soaring.

Sales up 19%. Pending Sales up 36%. Inventory down 12%.

Sales are up that 19% county wide as well as the North Side and the South Side. In fact, sales are up in each town as follows: Breckenridge up 19%, Frisco up 14%, Copper Mountain up 94%, Dillon up 7%, Silverthorne up 26%, Keystone up 16%.
 

The average sold price for the county's residential sales is now down -2%, -5% on the North Side and +1% on the South Side.
 

The inventory is down and does appear to have peaked a few weeks ago and yet the inventory the county has today of properties for sale is not as low as it has been in years past. Actually the county had less of an inventory for buyers to choose a property to purchase from late Summer/Fall of 2005 through the Spring of 2008. It will be interesting to see how the inventory goes as we progress through the next few years.
 

Interesting note: In each year 2005, 2006, 2007 and 2008 the annual sales were substantially more (30 to 60% more) than what our annual sales will be this year with that 19% improvement we are seeing right now. If the past is any indicator, a low inventory could translate into improved number of sales.

Jeff Angell Realtor, Manager, Owner RE/MAX Properties of the Summit/Frisco Market Info:  http://ecoloradohomes.com Find Jeff on Facebook,  facebook.com/REMAX.PropertiesoftheSummit Search Real Estate here: http://ecoloradohomes.com The Stats Weekly Activity How's the Market Condo Sales Home Sales Vacant Land Sales Townhome Sales Duplex Sales Top Firms     RPOTS Market Summary 2012 *Sales Stats Updated August 2013

Source: SAR Data for Residential (Condo, Townhome, Home, Duplexes) in Summit County, Colorado. Unless otherwise specified. **The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important.

North Side consists of the combined sales data from Frisco, Copper Mountain, Silverthorne, Dillon and Keystone and the South Side consists of all sales data from Breckenridge.

Summit County Real Estate Pending Sales Up 39% - WOW!

 
August sales "robust" may prove to be an understatement! In fact, the past three weeks of activity this year are coming in with a 51% improvement in the number of residential properties in Summit County going under contract. All this activity has resulted in a current 39% improvement in the total number of residential properties being under contract this year at this time as compared to last year at this time!

Another interesting fact: The under $500,000 sales have driven the county wide increase in sales this year and are currently bolstering 76% of the increase in residential property sales in Summit County.

Another interesting fact: Last year the total number of properties for sale peaked last week and it appears this year is following that trend - the county may have peaked.

The active inventory is down 11% countywide.

Sold prices are averaging -1.7% lower than last year for residential sales in Summit County. The North Side is witnessing an average sold price that is -6% lower and the South Side is witnessing an improvement of +2.7% in average sold prices. What is interesting about the average sold prices is that they have all improved a couple percentage points in just one week!

Oh, by the way, the average sold price of the above mentioned properties: Summit County $503,671, North Side $411,498, South Side $631,874.

Jeff Angell Realtor, Manager, Owner RE/MAX Properties of the Summit/Frisco Market Info:  http://ecoloradohomes.com Find Jeff on Facebook,  facebook.com/REMAX.PropertiesoftheSummit Search Real Estate here: http://ecoloradohomes.com The Stats Weekly Activity How's the Market Condo Sales Home Sales Vacant Land Sales Townhome Sales Duplex Sales Top Firms     RPOTS Market Summary 2012 *Sales Stats Updated August 2013

Source: SAR Data for Residential (Condo, Townhome, Home, Duplexes) in Summit County, Colorado. Unless otherwise specified. **The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important.

North Side consists of the combined sales data from Frisco, Copper Mountain, Silverthorne, Dillon and Keystone and the South Side consists of all sales data from Breckenridge.

Summit County Pending Sales Up 30% (Plus all updated Sales Stats)!

August sales continue to be very robust...in fact, the past two weeks of activity this year are coming in with a 51% improvement in the number of residential properties in Summit County going under contract! And last week's improvement for the under contract activity came in with a 54% improvement.

The total number of residential properties in Summit County that are currently under contract is up 30% over this time last year with current 2013 Sales up 17%! Interesting that the number of residential properties that have sold in the North Side of the County is up 18% and the South Side is up 17% - virtually the same.

Another interesting fact: 78% of the increase in sales in Summit County this year comes from sales under $500,000 and 22% of the improvement from sales over $500,000. In fact, on the North Side the entire 18% improvement is from sales of properties selling under $500,000 with the North Side sales over $500,000 showing a decrease; whereas the South Side is witnessing an improvement below $500,000 and in the over $500,000 selling price point up a bit more of an improvement. The South Side does show a decline in sales of properties in the $2,000,000 plus price range of about 50%.

The active inventory is down 10% countywide.

Sold prices are averaging -3.4% lower than last year for residential sales in Summit County. The North Side is witnessing an average sold price that is -8% lower and the South Side is witnessing an improvement of +1.2% in average sold prices. Oh, by the way, the average sold price of the above mentioned properties: Summit County $499,836, North Side $406,864, South Side $628,476.

Be sure to check out Stats at the bottom of this email as all the Sales Stats have been updated through last week.

Besides the Stats below you can find a slide show showing RPOTS's market penetration, updated through the end of July for each town including Summit County as a whole at http://www.haikudeck.com/p/FW9yKi01Rb  - By the way, RPOTS is the clear leader and a tremendous resource for buyers and seller!

In addition, here are a couple more slide shows by each town as well, but for Condominium average sold prices http://www.haikudeck.com/p/8ANVnH5LvL and Single Family Home average sold prices http://www.haikudeck.com/p/aUfg9oPfb4 - all updated!

Jeff Angell Realtor, Manager, Owner RE/MAX Properties of the Summit/Frisco Market Info:  http://ecoloradohomes.com Find Jeff on Facebook,  facebook.com/REMAX.PropertiesoftheSummit Search Real Estate here: http://ecoloradohomes.com The Stats Weekly Activity How's the Market Condo Sales Home Sales Vacant Land Sales Townhome Sales Duplex Sales Top Firms     RPOTS Market Summary 2012 *Sales Stats Updated August 2013

Source: SAR Data for Residential (Condo, Townhome, Home, Duplexes) in Summit County, Colorado. Unless otherwise specified. **The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important.

North Side consists of the combined sales data from Frisco, Copper Mountain, Silverthorne, Dillon and Keystone and the South Side consists of all sales data from Breckenridge.

Resort Sales Up 15% with Pending Sales Up 28% - Summit County, Colorado

The market is up in 15% in Summit County for the number of residential sales through July 28th! The North Side of the county is up 11% and the South Side is up 20%.

Average sold prices are down about -3% county wide and down -8.4% in the North end and up about 1% in the South end. The average Summit County Residential sale so far in 2013 is just over $500,000.

 

As we rolled into the summer the driving improvement county wide consisted completely of sales under $500,000 and today that is starting to change. But, that change is occurring on the South side of the county only. Sales on the North end of the county under $500,000 are up 22% and over $500,000 sales in the North are down -14%. In the South end sales under $500,000 are up 14% and over $500,000 are up 26%. Very Interesting.

Last week's activity came in with 50 properties going under contract and the week before that there were 45 - these are peak summer numbers and we are two to three weeks away from the typical peak. The local market has a lot of momentum going on as the peak summer selling season approaches; which may result in very strong sales during the month of August. The number of properties in Summit County currently under contract are up 28.5% and the number of available properties today are down -12% - the county is getting more listings and, at the same time, more are going under contract; which is a great combination.

Source: SAR Data for Residential (Condo, Townhome, Home, Duplexes) in Summit County, Colorado. Unless otherwise specified. **The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important.

North Side consists of the combined sales data from Frisco, Copper Mountain, Silverthorne, Dillon and Keystone and the South Side consists of all sales data from Breckenridge.

Market up 18% with Condo Market up 45%!

The Market is Up 18% in Summit County for the number of residential properties that have sold! The South Side of the county is up +28% and the North Side of the county is up +11%. Pending sales are up 14%.

Interesting that the condominium market is still driving the county's 18% improvement. Condo sales are up +45%! Single Family Home sales are down -6% and Townhome sales are up +7%.

Condominium sales are up countywide as well as in each town within Summit County. Condo sales in the county are up +45% and in Breckenridge the sales are +45%, Frisco +29%, Silverthorne +36%, Dillon +30%, Keystone +27%, and Copper Mountain +71%.

Check out the condominium sold graph below and go here for detail by town on condo sales, average sold price and sales by price range.

Single Family Homes are not selling as brisk as condominiums county wide or by town. Although the home sales are up in Breckenridge by +16%. They are down throughout the rest of the county by -7% and in Frisco the sales are down -20%, Silverthorne down -33%, Dillon down -18% and Keystone down -42%.

Check out the single family home sold graph below and go here for detail by town on home sales, average sold price and sales by price range.

Source: SAR Data for Residential (Condo, Townhome, Home, Duplexes) in Summit County, Colorado. Unless otherwise specified. **The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important.