Tuesday Morning Coffee- Welcome February
We welcome February with great snow and a strong real estate market! Here's the rundown on the market in 2019 to give you a sense of where we stand as we move into our sales season:
The Local Real Estate Market Scoop: 2019 finished well with average sold prices up +8% from 2018 and the total number of sales down slightly at -5% for the year. November's strong sales helped 2019 by outperforming 2018's sales for the same month by +13%.
Overall Residential Sales: Prices remain strong and, on average, it will cost $821,700 to get into a property in Summit County. Of course, that average sold price ranges throughout the county from the lowest priced condo at $155,000 and the highest home at $10,100,000! The number of sales are down -5% in the county and range from a -36% decrease in Copper Mountain to a +23% increase in Dillon.
Properties continue to sell at about 97-98% of list price and stay on the market for an average of 53 days. “Cream Puff” properties are selling quickly and at very close to asking price!
What’s ahead? We anticipate that the low interest rates and high consumer confidence will continue to fuel the real estate market into first & second quarters 2020.
If you would like updated sales information on any property in Summit County, please just email and we can get the specifics to you!
We all know that a powder day on the slopes beats out these statistics any day!