Dillon, Keystone, Silverthorne, Frisco, Breckenridge, Copper Mountain Colorado Real Estate

Market Update Fall 2019

 

Autumn is such a glorious time in Summit County! Crisp mornings and warm days splashed with amazing colors all around- I never want to step foot outside the county this time of year!

The real estate market in Summit County is strong on so many fronts. Looking at several leading indicators – inventory & number of showings and as well as two lagging indicators – pending/closed sales and Days on Market –gives a good picture of where we’ve been and what may come.

Active Properties: 777 on the market early fall priced from $209,000-$18,000,000 – something for everyone! 
Showing data: The number of showings tends to dip slightly in the fall and pick up again when the snow flies and the skiers are back. Showings are still consistent.
Pending: Currently, there are 458 properties under contract. The number of properties going under contract is on par with the summer months. 
This tells me Buyer demand is staying consistent, week after week.  While other aspects of the market go up and go down, we can depend on the Buyers to be here.  That's a good thing.
Sold properties: 1210 Sales Q1-Q3 2019 vs 1356 Q1-Q3 2018.  Number of sales is down overall by about 11%, but overall volume is up.
Interest rates also play a part of the equation- they are so low right now!  3.75% at the start of this quarter. The predictions of most economists at the beginning of this year for rising interest rates have not panned out – thankfully!  This helps with consumer confidence and makes properties more affordable.
Days on market: Median days on market is 19 this year vs 11 last year. A slight increase, but not statistically relevant.

The bottom line: High consumer confidence, low interest rates and buyers making offers gives the market a sense of confidence and predictability. That being said, we can expect, as we move toward winter, a gradual slow-down in transactions.  Much of the fall real estate market is driven by folks who want to get in and secure their ski getaway before the lifts start to turn!

Allison Simson, Owner/Broker Summit Real Estate

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Promises Kept...

Haven't you always wanted your own place in the mountains, among tall pines and quaking aspens with beaver ponds close by... a place in a world of snow-covered mountains, cobalt blue skies and evergreen forests? It's a promise you made to yourself and perhaps to your family, some time ago. Promises always start with the word "someday". Don't wait until it's too late.

When you look back on life, what will you remember? Chances are it will be the small things, memories of being with those you love. Pictures of your family and friends gathered together for a winter holiday in the mountains. Sensations of cool mountain breezes on your face.

Reward yourself. A good income is meaningless if you don't have time to enjoy and share your success. For many, a home in Summit County is the reward for many years of hard work. Reward yourself with a retreat where you can pursue the passions in your life where you and those you hold dear can recreate and recharge. Perhaps it's a place where your children will return and will bring their children. It will become a place where memories will be created and cherished. Your "investment" will go far beyond dollar value and will create an invaluable closeness that money can never buy.

 

 

Home Sellers

We can help home sellers understand buyer expectations and establish realistic pricing for your home under the current market conditions.

Our goal is to leverage our knowledge and experience to help you get the best price the market will support while still selling your home in a reasonable period of time.

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Home Buyers

For home buyers, our knowledge of the Dillon, Keystone, Silverthorne, Frisco, Breckenridge, Copper Mountain Colorado real estate market is second to none. We know the neighborhoods, the current market conditions, and the opportunities for buyers in today’s market. Our buyer specialists are committed to helping you find the home you want at the best possible price.

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Our Commitment

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. There are many details that need to be managed through closing, and Summit Real Estate brings the depth and breadth of skills and experience required to ensure your transactions go smoothly. Our commitment is to provide you the quality of service and communication you desire and deserve.

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Allison Simson, Owner/Broker, is a licensed Colorado Real Estate Broker