What's happening in the Summit County Real Estate Market?
When it comes to the latest news in real estate, there are soooo many sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in us, your hyper-local experts! Here in Summit County, the market is most assuredly different in many respects than other places in the country, and even in Colorado.
Price Appreciation – YOY, Q2 2021
“My sense is the Case-Shiller National annual growth rate of 19.7% is probably close to a peak, and that year-over-year price increases will slow later this year.” Bill McBride, Calculated Risk
“Closings are set to decline roughly 10% year over year in 2nd half of 2021 and home price appreciation is on the cusp of flipping to a decelerating trend.” Ivy Zelman, Zelman & Associates
Insights for Real Estate 4th Quarter:
“Fall is usually the start of the slower season for the housing market, but nothing is usual in today’s pandemic-driven housing market. Potential homebuyers are seeing a slight rise in inventory and consequently rushing back into the fray.
Mortgage applications to purchase a home jumped 7% last week from the previous week. . . . That is the highest level since April of this year. ” Diana Olick, CNBC's Real Estate Correspondent
“Homeownership is one of the fundamental keys to accumulating wealth in America—hence why it has been integrally linked to achieving the American Dream…Not only can owning a home provide a roof over your head and a secure place to live, but because mortgage payments generally remain fixed while rents may rise over time, a home can also be a very effective hedge against inflation. Together, these features can give homeowners an enormous advantage over renters when it comes to accumulating wealth.” DS News
Summit County Market Analysis provided by Land Title YTD August 2021 (Click on the image below to view full report)
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 Breckenridge, CO 80424 is $2,985,000 with the market action index hovering around 40. This is about the same as last month's market action index of 40. Inventory has held steady at or around 58.
- Dillon This week the median list price for Dillon, CO 80435 is $1,625,000 with the market action index hovering around 49. This is less than last month's market action index of 53. Inventory has decreased to 9.
- Frisco This week the median list price for Frisco, CO 80443 is $2,200,000 with the market action index hovering around 34. This is an increase over last month's market action index of 32. Inventory has increased to 7.
- Silverthorne This week the median list price for Silverthorne, CO 80498 is $2,473,900 with the market action index hovering around 40. This is an increase over last month's market action index of 38. Inventory has decreased to 14.