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.

Pending Summit County Real Estate Sales Up 20%.

UP: Sales are up this year 17%. Pending sales are up 20%. Last week's activity was similar to the previous few weeks of activity and that's up, up, up!

Last week: New listings up 65%, New Under Contracts up 30% and properties that sold last week up 61%.

The available inventory took a leap forward this week adding over 90 new listings. Learn more here, http://weeklyreactivity.com .

Here is an interesting graph representing condominium sales through July 7th of each year. The result this year is a 42% increase in the number of condos sold so far through July 7 - a great trend.

Although the county is on a very positive trend for condo sales the total sold so far is still about 8.5% less than the number of condos that sold January 1, 1993 through July 7, 1993 (that is as far back as MLS would allow me to do that search).

In other words, the local real estate market is soaring forward at a tremendous pace with a lot of room for additional improvement ahead.

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.

Summit County Real Estate Market Still Going Strong.

The Market: In a word, UP!

County Wide: UP (sales up 14%)! Average sold price down (-3%).

North Side of the County: UP (sales up 7%)! Average sold price down (-10%).

South Side of the County: UP (sales up 25%)! Average sold price down (-1%).

Pending Sales: The number of residential properties that are currently under contract is up a whopping 19%. Sales have closed this year around 95% of list price...the average list price of the pending sales is at $526,495 and 95% of that is about $500,000; which is a bit of a drop from our current average sold price today of $504,550.

The pending sales in the North Side of the county, using the 95% of list price to sold price ratio, should come in higher and thus improve the current non-improvement of minus 10% over the next 6 weeks or so by a few percentage points...the South Side pending sales are coming in at a lower average list price and therefore should push the average sold price down bit more over the next 6 weeks.

The current inventory of properties for sale in Summit County (residential) is still down -14%. Interesting that the average list price today is $689k and the average list price on July 2, 2012 was $685k - one year apart and yet pretty darn close.

Last week's activity: New Listings surged and came in at the exact same rate as they did last year. New under contracts surged at a greatly improved rate over last year (plus 58%) and listings that sold last week out paced last year for the same week by plus 32%.

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.