Total Sales for Summit County:
We currently have about 701 residential units for sale, and 376 units are under contract, in all of Summit County. Inventory is on par from this time last year, but pending sales are up slightly. Residential sales in Summit County from January through June 2020 are down 24% over the same months in 2019. Average prices for 2020 are up 2% from the average price of residential sales in all of 2019. Properties are closing within 1.2% of list price. The average days on market for all sales is 68 days. 46% of Buyers are from the Front Range, 22% are from Out of State, and 33% are Locals and Retirees. 26% of transactions were cash in May.
Luxury sales over $1,500,000 are down from 70 to 47 sales over the same months last year.
Based on the last list price of the properties sold January through June 2020…..
$200,000 to $400,000 had 81 properties sold.
$400,000 to $600,000 had 132 sales. This was the hottest segment for most of last year.
$600,000 to $800,000 had 112 sales.
$800,000 to $1,000,000 had 67 sales.
$1,000,000 to $2,000,000 had 101 sales.
$2,000,000 to $3,000,000 had 18 sales.
Over $3,000,000 had 6 sales, with 2 over $4,000,000.
Single Family Sales: The number of Single Family home sales for January through June 2020 is down 27% over the same months in 2019. The average sales price has decreased 4% in 2020 year to date over the average price of Single Family homes in all of 2019. The average days on market for Single Family homes is down to 75 days.
Condo and Multi Family Sales: Condo/ Multi Family sales for January through June 2020 are down 22% over the same months in 2019. The average sales price is up 10% year to date in 2020 over the average Condo price in all of 2019. The average days on market for Condo/ Multi Family sales is 66 days.