Real Estate Articles

Interest rates are terrific. Inventory is ready for the summer selling season offering great choices and opportunities for buyers that we have not seen since the early 2000's. And the weather is wonderful. It is a great time to purchase.

We have 1214 residential properties for sale in Summit County with 435 of those being single family homes, 561 condominiums, 112 townhomes and 106 duplex homes. Remember that is throughout the entire county. If we break it down by area we have the following properties currently 'for sale'.

Although we do have an increasing inventory our current available properties for sale remains relatively low. For example the percent of available properties for sale in Breckenridge is 8%, Frisco/Copper is 4.7%, Dillon is 7.5%, Keystone is 6% and Silverthorne is 7.9%. Relatively low numbers of properties for sale have historically kept sales prices stable and/or on the increase in Summit County.

What are the current average sale prices being asked for properties for sale is a common question and something everybody finds interesting - whether they own resort real estate or not! Below you will find the current average sales price for properties on the market today as of (June 4, 2008).

The average sale prices found in this area are reflective of a resort community where supply is typically low and demand is typically very high. Remember, all these averages and sales numbers do not include vacant land, lots, commercial or quarter share as well as partial ownership.

We just finished the slowest part of the year and are currently gearing up for the busy season yet to come which typically represents the majority of transactions closed throughout the county. For example, in 2007 we had 2142 closed residential properties in Summit County and so far in 08 we have had 499 or roughly a quarter of the year's sales with another ¾ of a year's sales left to go in 2008 or over 1500 properties yet to sell. Even if we see a reduced number of transactions we have more sales left to go, yet in 2008, then we have properties for sale right now!

So far in 2008 we have had the follow number of properties sell in each local town. Again, keep in mind that these numbers only include Homes, Condos, Townhomes and Duplexes.

The above numbers are reflective of a quarter of our year's properties sold (based upon 2007 numbers) with the bulk of the sales yet to come. The up and coming sales will dictate whether the average sale prices remain in the upward swing or remain the same. Below you will find the average sale prices for each segment or property type in Summit County so far this year (June 4, 2008).

What will the rest of 2008 bring for real estate sales in Summit County? Historically from this point forward the number of sales increase rapidly with a peak sometime late August that tapers down through the end of October. That same peak has historically also seen an increase in average sale prices that then set the pace for the following year for starting sale prices, percentage increases in value as well as inventory.

Have a great rest of the spring and if you are thinking of getting involved in Summit County real estate (Breckenridge, Frisco, Copper, Keystone, Silverthorne, Dillon) now may be a much better time than waiting until later this year.

Questions. Need more detail. Ready to buy. Contact Jeff or Lisa  here.

*All data obtained from SAR Data. **The information in this publication was derived from sources believed to be accurate, but has not been verified.