The number of days it takes to sell a piece of real estate in Summit County has decreased and the average sale price has increased!
The highest average days to sell decrease occurred in Copper Mountain where the average number of days went down 42% while the highest sale price increase occurred in Silverthorne at 11.84%. There are two exceptions to this though, in Breckenridge it now takes 14% longer to sell and in Frisco the average sold price is actually down 8.59% through June 15th. To View the stats online click here.
The number of properties closed did decrease a substantial percent - 37% for all of Summit County. Within the various MLS areas Dillon & Copper Mountain tie for the lead with a 50% decrease with Frisco coming in second with a 40% decrease and Keystone third with a 36% decrease. The numbers above are all based upon closings that occurred Jan 1 - June 15 08 vrs 07.
Speaking of sales, where are all the sales YTD through 6/20/08.
Eighty percent of the sales in Frisco, Keystone, Copper Mountain, Silverthorne are generally under $750,000. While in Breckenridge 80% of the sales are below $1,000,000 and in Dillon 80% of the sales are below $500,000. To view these stats online click here.
How does that same 80% sold level compare with what is currently on the market?
Interesting to note that in each area the 80% on the market approximately pushes the price level up as follows: Frisco, Silverthorne and Copper Mountain have 80% of their active listings priced under $1,000,000 while Dillon’s are priced under $750,000 and Breckenridge and Keystone have 80% of their listings priced under $1,500,000.
If we now look at the number of properties on the market compared to what has closed through 6/20/2008 and then speculating that we have around 2/3’s of the year’s sales left to go during the summer and fall (our busiest time of year) we come across some more interesting numbers.
Frisco had 52 sales with 117 currently on the market and using that 1/3 - 2/3 method shows that Frisco will have 104 more closings yet this year - which pretty much uses up the current supply of listings. In other words, we (Frisco) have just enough listings to get us through the rest of the year - it looks like we need more listings! What are the other areas like? Frisco, Silverthorne and Dillon are all in the same boat with practically the exact same ratio as Frisco and Keystone doesn’t have enough to make it through the year! Breckenridge and Copper Mountain are looking at a substantial surplus of listings for sale with about 50% extra.
Of course all these are simply numbers. Facts for what has happened and good basis for predicting what may happen in the future - but, a prediction none the less. Overall the numbers simply say that the sales are there, the market is there and all in all our real estate summer sales season is looking very strong.
Remember to view the June 23rd Stats Click Here and to view the June 15th Stats Click Here.
Enjoy your summer 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. Have a referral. Contact Jeff via email at Mail@JeffAngell.com. And if you like you can read this article on line at http://www.coloradomtnrealestate.com/artman/publish/summit-county-stats-june08.html .
Thank you,
Broker/Owner
RE/MAX Properties of the Summit/Frisco
P.S. Oh, by the way…don’t forget to refer anyone you know that may be interested in buying or selling real estate in my area to me. I like to work with referred clients and I am never too busy to take care of your referrals.
Phone: (970) 668-5300
Toll Free: (800) 289-5305
Interested in more resort information or statistics? Want to know a little more detail or something specific…simply contact The Angells and we will provide you with the information you desire on Summit County: Breckenridge, Frisco, Keystone, Copper Mountain, Dillon and Silverthorne.
