Total Sales for Summit County: Summit County sales are down 4.5% for 2016 over 2015. September was our strongest sales month, but November had the highest sales volume. Getting appraisals in a timely manner was a challenge this selling season. Average prices for 2016 are up 6% from the average prices of 2015. The average days on market was 80 days in 2016, down from 221 days in 2015! In 2016, 46% of Summit County sales were in the Breckenridge area. 40% of buyers are from the front range, 26% are locals (a good number of these are retirees moving to the county), and 34% are out of state buyers.
Based on the last list price of the properties sold January through December 2016…..
$200,000 to $400,000 is ALWAYS the hottest part of the market with 609 properties sold.
$400,000 to $600,000 saw 466 solds.
$600,000 to $800,000 saw 299 solds.
$800,000 to $1,000,000 saw 157 solds.
$1,000,000 to $2,000,000 saw 189 solds.
$2,000,000 to $3,000,000 saw 30 solds. There were 11 properties that sold for over $3M, including 2 that sold for over $5,000,000.
One of my favorite stats to review is the number of sales per year since 2004. We have a steady market (and anything is better than 2009).
2004 —2492 solds
2005 —2470 solds
2006 —2495 solds
2007 —2146 solds
2008 —1214 solds
2009 — 917 solds (ouch)
2010 —1005 solds
2011 —1117 solds
2012 —1319 solds
2013 —1527 solds
2014 —1685 solds
2015 —1943 solds
2016 —1857 solds There has been a lack of inventory in 2016.
Single Family Sales: The number of Single Family home sales is the same in 2016 over 2015. The average sales price has gone up 6% in 2016 over 2015. The average number of days on market has gone from 261 days in 2015 down to 106 days in 2016.
Condo and Multi Family Sales: Condo/ Multi Family sales are down 5% 2016 over 2015 due to reduced inventory. The average sales price has increased 4% in 2016 over 2015. Average days on market is down to a speedy 71 days!
Land Sales: The number of lots sold in 2016 was 133, compared to 153 sold in 2015. The average price is down 10% in 2016 but this can easily be skewed by a big sale or two. There are not a lot of great lots left that are below 11,000 feet and are easily buildable. The average days on market was 710 days (not a typo) in 2015 but has dropped to 340 days in 2016.
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