So far in 2016 the Summit County, Colorado real estate market is continuing to strengthen with an increase in the average sold price and a reduction in days before properties are under contract. Currently there are 572 residential properties for sale in Summit County, this is an increase from the start of 2016 when the inventory was below 500 most of the year. Ski season is over and summer is upon us, so now is a great time to purchase property since there are more properties to choose from.
Summit County, Colorado Real Estate average sales data January – May 2015 vs. 2016:
Average sales price has increased +7.09% from $561,203 to $601,002 from 2015 to 2016 respectively
+8.82% in average sold price per square foot (sf) from $340/sf to $370/sf
Days on market has decreased -17% from 141 to 117 days on average
List price to sales price has tightened up slightly from 96% to 97%
Sales volume has increased to $340M from $317M
When considering purchasing property in Summit County, Colorado you may wonder what the average sales price is in the individual towns. Below is a breakdown of each towns number of sales so far in 2016, the average sold price and average sold price per square foot:
As you can see the majority of the sales in Summit County occur in the Breckenridge real estate market with 41% of the sales. Many people don’t realize how large Breckenridge really is between the many condo complexes and the 8 mile stretch of homes in Blue River, options abound in Breckenridge, Colorado. However, if you are not looking to own a property in the hustle and bustle of Breckenridge the other towns in Summit County have many options at all different price points.
For additional information on the Summit County real estate market or the individual markets by town contact Justin and Krystal Knott with LIV Sotheby’s International Realty. With over 20 years combined, full time experience we pride ourselves on providing “exceptional service at any price point”. Call us today to discuss your buying or selling needs at 970.333.9050 or email us directly at knott@sothebysrealty.com. We look forward to hearing from you!