The Market: Residential sales this January 2013 in Summit County are down -12%. Year to date, through Feb. 3rd the number of residential sales is also down by -17% with the South Side of the county down -18% and the North Side down -7%.
It is only the first month, but where is our market down...under $250,000 the sales are about the same, $250k to $500k the sales this January are down close to 30%, sales between $500k and $1m are down about 16% and sales between 1m and 1.5m are down -40%!
Interesting that the average sold price today is up and, yet, that is no wonder with the sales over $1,500,000 improving by 400%. Again, the first part of the year represents small numbers and a lot can change in just 30 to 60 days, but an interesting trend to start the year off with...
At this time in 2012 the average list price was $733,533 and today that average price is $720,451 and the number of active residential properties for sale in Summit County is also down -12% today.
Ahh, the silver lining today as we begin February is that our current number of properties that are under contract and getting ready to close is up 19%! In fact, the weekly activity last week for properties going under contract went up 43% over the same week last year. Even more, the extra that is now under contract more than doubles what the county was short in January.
The next few months will be very interesting.
Source: SAR Data for Residential (Condos, Townhome, Homes,
Duplexes) in Summit County, Colorado only. * 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.
Learn more here: http://www.eColoradoHomes.com
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