Total Sales for Summit County: Our selling season is in full swing with some of the strongest numbers since 2007. Residential sales in Summit County from January through June 2015 are up 20% over the same months in 2014. Average prices for 2015 are up 5% from the average price of residential sales in all of 2014. The average days on market for all sales is down to 258 days. Only 2 months ago the average days on market was 313 days.
I don’t remember ever reporting such a low percentage of cash sales, but in April and May only about 28% of transactions were cash. 41% of our Buyers are from the Front Range, 31% are locals, and about 28% of our Buyers are from out of state.
Based on the last list price of the properties sold January through June 2015…..
$200,000 to $400,000 is ALWAYS the hottest part of the market with 274 properties sold.
$400,000 to $600,000 had 173 sales.
$600,000 to $800,000 had 103 sales.
$800,000 to $1,000,000 had 44 sales.
$1,000,000 to $2,000,000 had 64 sales.
$2,000,000 to $3,000,000 had 14 sales.
And 4 properties sold for over $3,000,000 YTD, the highest sale was for $3,700,000.
Single Family Sales: The number of Single Family home sales for January through June 2015 is up 22% over the same months in 2014. The average sales price has risen 9% in 2015 year to date over the average price of Single Family homes in all of 2014. The average days on market for Single Family homes is down to 276 days.
Condo and Multi Family Sales: Condo/ Multi Family sales for January through June 2015 are up 19% over the same months in 2014. The average sales price is up only 3% year to date in 2015 over the average Condo price in all of 2014. The average days on market for Condo/ Multi Family sales is down to 251 days.