24th Oct, 2008

October 2008 Summit County Colorado Market Update

Hello from Summit County,
Even more change…The real estate sides closed for Summit County are down 42% through the third quarter! The transaction sides closed are down throughout the county in every town by double digits from minus 32 to minus 51. The sales volume is down throughout as well with the highest decrease taking place in Frisco at -54% and the lowest in the county being Silverthorne at minus 32%.
It is amazing to think that we are in a 1.2 billion dollar market. Yet, even with so much still selling there is no doubt that we are in a very different market today in Summit County than what we have had in the past. We have had our minor up and down cycles from the late 80’s through 2007 – but, nothing like what is happening today in 2008.
Use the links following to view some interesting information (real estate stats) on our current market as well as a chart predicting what may happen as time moves forward based upon historic trends in Summit County real estate.
Market Comparision 2008 vrs 2007 3rd Quarter YTD

 

Sales Comparions in Detail 2008 vrs 2007 3rd Quarter YTD

 

 

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 as activity is picking up. The inventory is good and not nearly at record levels we have seen in the past allowing a buyer the abilitiy to pick the property they really want - without worrying too much that someone will buy it out from under them while they consider purchasing. Although I am starting to see that happen now on select properties.

 

And, here is a graph of what could happen based upon current stats, historic stats and historic trends in our future market - have a look here. 

 

Questions. Need more detail. Have a referral. Contact Jeff via email at Mail@JeffAngell.com.

Thank you,

 

 

 

 

Jeff Angell
Broker/Owner
RE/MAX Properties of the Summit/Frisco
*All data obtained from SAR Data. **The information in this publication was derived from sources believed to be accurate, but has not been verified. ***Future Projections that are based upon historic trends that provide a possibility for future real estate sales volume for sold properties in Summit County. Please, keep in mind that we cannot predict the future and that this representation is only an example of one possibility.

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.

 
 
 

 

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