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.