Total Sales for Summit County: We currently have about 689 residential units for sale in all of Summit County which is higher than 2 months ago. Residential sales in Summit County from January through August 2017 are up 9% over the same months in 2016. Average prices for 2017 are up 16% from the average price of residential sales in all of 2016. The average days on market for all sales is down to 66 days. 38% of Buyers are from the Front Range, 32% are from Out of State, and 30% are Locals and Retirees. 33% of transactions were cash which is fairly normal. Properties are selling at 97.86% of their [final] list price.
Based on the last list price of the properties sold January through August 2017..
$200,000 to $400,000 is ALWAYS the hottest part of the market with 339 properties sold.
$400,000 to $600,000 had 262 sales.
$600,000 to $800,000 had 208 sales.
$800,000 to $1,000,000 had 127 sales.
$1,000,000 to $2,000,000 had 169 sales.
$2,000,000 to $3,000,000 had 35 sales.
And 10 properties sold for over $3,000,000 YTD, 4 of them for over $4M.
Single Family Sales: The number of Single Family home sales for January through August 2017 is up 17% over the same months in 2016. The average sales price has increased 20% in 2017 year to date over the average price of Single Family homes in all of 2016. The average days on market for Single Family homes is down from last year to 111 days.
Condo and Multi Family Sales: Condo/ Multi Family sales for January through August 2017 are up 7% over the same months in 2016. The average sales price is up 12% year to date in 2017 over the average Condo price in all of 2016. The average days on market for Condo/ Multi Family sales is still a speedy 49 days!