Happy Summer 2018!
The Market: summer selling season is in full swing in Summit County with lots of real estate activity. The local real estate sales show the average sold price is strong throughout the county with Silverthorne, Frisco, and Dillon being very strong or Hot! Silverthorne has seen the most growth so far in 2018 with the average sold price of residential sales up by 21% with Frisco up 20% and Dillon is up 19%. There have been no single-family home sales for Copper Mountain in 2018 but, the condominium average sold prices are up by 13%!
While average sold prices remain strong the overall number of residential sales in Summit County are down 9% as compared to 2017. Why you ask?
The # of properties for sale are at an all time low and while we expect an uptick in new listings going into the real high months of the summer/fall selling season, the inventory of listings will continue on at an historic low rate. As a result, the demand will continue to outpace the supply causing the average sale prices to continue up!
?The luxury market (sales over $1,000,000) has not kept pace with 2017 and is running about 23% down from last year. The average sold price in the luxury market is down about 3%. Interested in the luxury market? Time to consider getting in now...
You can view the above stats video in a PDF Format.