What's happening in the Summit County Real Estate Market?
Friends, it’s weird out there...
The economy, that is. Interest rates have jumped, then fallen, then risen again and the see-saw continues. Home sales have slumped, but inventory remains sparse. Inflation was under control, until it wasn’t again, though maybe it is again? And oh, there was a bank run. Like I said, weird.
The truth is that every expert’s best guess about where the economy is heading changes weekly — a reminder of just how hard it is to predict the future, and how important to remain present (a lot like life!) Never has it been more important to be working with a knowledgeable local Summit County Realtor, who understands the intricacies of our ever- changing market.
Maybe you’re feeling overwhelmed about the status of short term rentals or the growth that is happening, but one thing we know for sure is that some things don’t change - the beauty of a crisp, frosty morning on top of the mountain, fresh tracks on a powder day and the excitement of spotting a moose on a hike through the woods.
We hope the information here will give you some clarity and peace of mind. Please let us know what else you need to know!
And here’s a great read that sheds some light on the Summit County Real Estate Industry, by Glen Weinberg: Colorado ski real estate doubles, will there be a drop on the other side? 5 factors that will shape the future
Cheers!
Summit County Market Analysis provided by Land Title February 2023 YTD
Highlights February 2023 Market Analysis:
$117M Total Sales Volume
91 Total Transactions
$1.403M Average Sale Price
$819 Average Price Per Sq Ft
Live/Active Market Information provided by Title Company of the Rockies
(Click on town names below to view town stats)
Breckenridge This week the median list price for Single Family Homes in Breckenridge, CO 80424 is $3,975,000with the market action index hovering around 24. Slight Buyer's Advantage. Inventory 57. The median list price for condos in Breckenridge is $895,000. Market index hovering around 30. Slight Seller's Advantage. Inventory has increased to 57.
Dillon This week the median list price for Single Family Homes in Dillon, CO 80435 is $3,650,000 with the market action index hovering around 34. Slight Seller's Advantage. Inventory has decreased to 7. The median list price for Condos in Dillon is $1,100,000 with a market action index at 34. Slight Seller's Advantage. Inventory has decreased to 45.
Frisco This week the median list price for Single Family Homes in Frisco, CO 80443 is $1,599,500 with the market action index hovering around 33. Slight Seller's Advantage. Inventory decreased to 2 . The median price for Condos in Frisco is $989,900 with a market action index at 41. Slight Seller's Advantage. Inventory slight increase to 21.
Silverthorne This week the median list price for Single Family Homes in Silverthorne, CO 80498 is $2,397,500 with the market action index hovering around 20. Slight Buyer's Advantage. Inventory held steady 22. The median list price for Condos in Silverthorne is $987,475 with the market action index hovering around 31. Slight Buyer's Advantage. Inventory decreased to 38.
