The Market: Residential prices are up and they are up in every resort town in Summit County, Colorado!
On average they are up 17% (that's $100,000 more than in 2016). Today the average sold price for a residential property in the county is just over $700,000! The home average sold price is approaching 1.2 million with the average condo coming in at about $425,000.
Our inventory extremely low and demand is high. The luxury market ($1,000,000 plus sales) is reaping the benefit of the prices moving upward with an increase in sales of +49%! Enjoy the market updated stats in their PDF form or easy to view videos.
And here's a tidbit: In 1994 almost 90% of all sales were under $250,000 and in 2017 a little over 90% of all sales were over $250,000. In fact, the majority of 2017's sales in Summit County were over $500,000.