Total Sales for Summit County: We currently have about 131 residential units for sale and 474 units are under contract in all of Summit County. Residential sales in Summit County from January through February 2022 are down 25% over the same months in 2021. Average prices for 2022 are up 27% from the average price of residential sales in all of 2021. Properties are closing an average of 1% over list price. The average days on market for all sales is down to 24 days. 46% of Buyers are from the Front Range, 34% are from Out of State, and 20% are Locals and Retirees. 25% of transactions were cash in January (this was 33% for all of 2021).
Luxury sales over $1,500,000 are UP from 33 to 56 sales over the same months last year.
Based on the last list price of the properties sold January through February 2022…..
$200,000 to $400,000 had 7 properties sold.
$400,000 to $600,000 had 41 sales. This is our hottest segment.
$600,000 to $800,000 had 24 sales
$800,000 to $1,000,000 had 19 sales.
$1,000,000 to $2,000,000 had 46 sales.
$2,000,000 to $3,000,000 had 18 sales.
$3,000,000 to $4,000,000 had 8 sales.
$4,000,000 and over had 6 sales with the highest being $12,200,000!
Single Family Sales: The number of Single Family home sales for January through February 2022 is down 20% over the same months in 2021. The average sales price has increased 28% in 2022 year to date over the average price of Single Family homes in all of 2021. I did take out the $12M sale for this average. The average days on market for Single Family homes is up to 47 days.
Condo and Multi Family Sales: Condo/ Multi Family sales for January through February 2022 are down 26% over the same months in 2021. The average sales price is up 14% year to date in 2022 over the average Condo price in all of 2021. The average days on market for Condo/ Multi Family sales is down to 13 days.