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November Market Update - Kelie Gray

by Kelie Gray
 

With many mountains opening, winter's officially here! We are excited that Keystone and Breckenridge have both reported record snowfall for the month of October. 

As you can see in my video, this is just a brief market update. For those of you that would like more details or to discuss how the market affects you personally, let’s talk! What are you doing for lunch next week?!!

With the graph below, I have included some additional interactive statistical links. These numbers will dive deeper into the comparison of the past to the present market.
  • There are approximately 630 active listings, and less than 450 under contract. Things are moving!
  • Still low interest rates
  • Very high consumer confidence
  • We will continue to see price appreciation and growth, but at a much slower pace than we have seen in the past several years.
Remember that even though many are predicting a recession before the next presidential election in 2020, this does not mean there will be a housing crisis.
The actual definition is 2 or more consecutive quarters of negative GDP growth. 
Check out this great article: "How will the Next Recession Affect the Housing Market" 
Interesting, right? Recession does NOT necessarily equal a housing crisis. 

I would love to be your local resource for all things Summit County.
I also have a great network of referral brokers across the country.
Consider me your local real estate expert!
1 of only 7 Summit County Real Estate Brokers with this Elite Designation.

The Summit Area Specialist Designation differentiates REALTORS
®
 who dedicate themselves through education, community involvement, and transactional experience. Those who gain the Summit Area Specialist Designation will have the localized knowledge, production, expertise, and community involvement to better serve Summit County, Colorado.
 
 
Click on image for an interactive graph
Additional Interactive Graph Links:
Active Listings
Average Days on Market
Median Sold Price Per Sq Foot
Median List Price to Sale Price Ratio
 
"Kelie Gray is the best. She helped us in our move from Indiana to Summit County. Working remotely with her was super easy and the process happened without any issues. Looking forward to working with her again." - Don Chastain


  Kelie Gray    Real Estate Matchmaker
  C: 970.406.0537      970.468.6800  
  
[email protected]
  SummitRealEstate.com


 
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Sellers: Now Is the Time to Buy!

by KCM

Falling interest rates coupled with increasing inventory create the ideal market to find the home of your dreams. There's no time like the present to move up! Let's get together to discuss your options.

Summit County Market Update Fall 2019- Courtesy Allison Simson

by Allison Simson


‚Äč

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!

Stay tuned to weekly updates on the Market click here: 

Real estate update!

by Allison Simson

Hope this fun/crazy/busy month of December is treating you well and you are feeling the holiday spirit!! 

Here's a quick article to give you local scoop on Summit County, CO real estate!

http://www.summitdaily.com/article/20121205/NEWS/121209923&parentprofile=search

Enjoy the fun! 

Summit County Statistics

by Allison Simson

The snow has been falling - I felt like I was in a snow globe yesterday - and it's looking like winter! The chair lifts are turning and it's the perfect time to assess your situation for ski season.  Are you looking to buy your first condo?  Upgrade the place you have? Or, maybe, sadly, you realize you're not using your current place like you used to and it's time to sell. 

Please check out our market reports for current, up to the minute information about the market, specific to your area:

1) Dillon Market update

2) Wildernest/Silverthorne Market Update

3) Frisco
Market Update

4) Breckenridge
Market Update

5) Keystone Market Update

 

See you on the slopes!

Displaying blog entries 1-5 of 5

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Photo of Summit Real Estate Real Estate
Summit Real Estate
The Bright Choice
330 Dillon Ridge Way, Suite 10
Dillon CO 80435
970-468-6800
800-262-8442
Fax: 970-468-2195

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