Market Still Strong: Sales Up 13%. Pending Up 19%! Summit County, Colorado

With interest rates on the rise and the stock market doing the opposite our local real estate market, so far, hasn't skipped a beat.
 

Last Week's Summit County Residential Sales Activity: 60 new residential listings; which is about 10 fewer than last year for the same week. 34 went under contract (two more than last year) and 37 properties closed; which is more than double last year's number of closings.
 

Thus, even in the midst of turbulence, a good strong week of real estate activity.
 

Today we have 1300 properties for sale in Summit County (down -15% from last year) and over 200 properties under contract - the number of properties under contract today are up plus 19% over this time last year!
 

Looking back at 2013 the the county is up plus 13% in the number of residential properties sold and flat for average sold price (actually down -0.5%). The North Side of the county is up plus 5% in the number sold and down minus 8% in average sold price and the South Side is up plus 25% in sales and up plus 3% in price.
 

Where's the increase? Well, 77% of the improvement in sales today is in the under $500,000 range with 23% of the improvement in the over $1,000,000 range. The $500,001 to $1,000,000 range is down in sales. Note: In the over $1,000,000 improvement range, if we took out the project quick sale at OSHP the percent of the total improvement today would be 15%.
 

So, under $500,000 sales range is currently the reason our market is improving and that is entirely due to improved condominium sales in that price range. Home sales under $500,000 went down about 16%.
 

How are home sales doing in Summit County? The number sold is down a minus 4% while the average sold price is up plus 7%. The South Side of the county's SFH sales are up plus 17% with an average sold price improvement of plus 5% and the North Side's SFH sales are down minus 26% with an average sold price improvement of plus 2%.
 

Single Family Homes sales are down county wide. Up on the South Side and down substantially on the North Side. IE: Silverthorne home sales are down minus 30%. And, yet, the number of sales by town are not high enough to really make a 'trend statement' - but, so far this year the above is what is happening.

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.

Pending Resort Sales Up 18.5%! Summit County, Colorado.

The Market: Sold Properties YTD - Up plus 12%, Under Contract Properties - Up 18.5% and Current Inventory - Down minus 16.5%.

Last Week: Under Contract activity  - Up 47%, Sold Activity - Up 27% and New Listing Activity did surge but still fell short by about minus 15%.  View the weekly activity here http://www.weeklyreactivity.com

Sales by Price Range: Under $500,000 sales are showing a plus 17% improvement, Sales Between $500,000 & $1,000,000 are down minus 1.5% and sales over $1,000,000 are improving by plus 30%.

Interesting that in the same price ranges the average sold price is down minus 3.3% in the under $500,000, down minus 1.5% in the $500,000 to $1,000,000 and up plus 1.3% in the over $1,000,000.

Where are the sales occurring: The South Side of the County is up plus 23% in the number of sales and up 1.4% in average sold price. And, the North Side of the County is up plus 4.5% in the number of sales and down minus 7.7% in average sold price.

Another interesting tid bit: The average list price of the properties for sale today is the same as the average list price last year at this time for the county as well as the South Side and North Side.

In the link below you will find reports on condominium sales so far this year (2013 YTD) as compared to the years 2001 through 2012 for Summit County as well as by each town. It is 7 Pages, one for each town. If there were enough sales to perform an average then there is also a comparison of the 1, 2 and 3 bedroom condominium average sold prices for this year.

Condo sales are up county wide plus 33% with a plus 42% improvement in Breckenridge, a plus 44% improvement in Keystone and plus 83% in Copper Mountain! Here is the graph for the county and enjoy all the reports at CondoSalesSummitCounty.

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.

Resort sales up 12% in Summit County, Colorado!

The Market: In a nutshell - available properties to purchase down minus 16%, closed properties through Jun 2 plus 12%, total properties under contract today plus 16%, average sold price down minus 2%.

Recent Activity: Last week's under contract activity plus 62% and last week's sold activity plus 28%. Last week's new listing activity minus 34%. Showings as reflected from our inventory (all RE/MAX Properties of the Summit) plus 40% for the month of May.

Interesting: The number of showings it takes before a property sells today is 23 and last year at this time it took 28. Fewer showings, fewer listings and more sales!

Today: The average list price of all the residential properties for sale in Summit County is virtually the same as last year at this time (today that average is plus 0.6%). Separating that up by the North Side or South Side results in identical information. Sales: County Wide up 12%, North Side up 4% and South Side up 24%. Average Sold Price: County Wide down -2%, North Side down -6% and South Side down -1%.

Learn more at http://www.eColoradoHomes.com 

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.