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.