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Quarterly Newsletter- The Compass

FRISCO ADOPTS NEW VOLUNTARY DEED-RESTRICTED HOUSING 

 

 

 

FRISCO ADOPTS NEW VOLUNTARY DEED-RESTRICTED HOUSING 

FRISCO — The town of Frisco is hoping to remove some of the unintended consequences of past deed restrictions placed on homes in town.

The Frisco Town Council unanimously voted to adopt a resolution at their regular meeting Tuesday night that would allow homeowners with a deed restriction on their property to opt in to a new housing covenant offered by the town. The move is meant to help incentivize home improvements on restricted properties, and provide more flexibility to sellers so they aren’t forced to take a loss, while still assuring affordability for buyers. Council members Jessica Burley and Melissa Sherburne recused themselves from the vote. More Here

DON'T MISS LEAF PEEPING IN SUMMIT!
Changes detected mid-September
 

SUMMIT COUNTY MARKET UPDATE

SUMMIT COUNTY MARKET UPDATE

 

 

 

 

 

 

 

 

 

 

 

 

 

Want to Know Your Summit Property's Value? - Find Out Now!

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.  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!

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SUMMIT COUNTY'S LOCAL'S GUIDE TO EVENTS

CALENDAR OF EVENTS

 

 

 

 

Current Happenings

October 4
First Friday / Film Premiere

October 6
Pumpkin Fest

October 16
Summit High Jazz Band Dillon Dam Brewery

October 18-19 
Keystone Wine in the Pines

October 18-20 

Breckenridge Craft Spirits Festival

October 29
Trunk or Treat Dillon Community Church

October 31
Trick-or-Treat on Frisco Main Street

More events where you're likely to bump into the SRE Team! 
Find full FALL calendar here!


THE BRIGHT CHOICE - Locally Owned & Invested

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Contact Information

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