It is that time of year again when we get our annual real estate statistics package out showing all that was sold, increases that occurred, decreases that occurred as well as average prices by area and property type. The number of sales certainly changed in 2008 and yet the average sale price mostly remained the same or increased with a few areas of decreased average sale prices.

How long will our market remain as it is? Denver is already showing signs of stabilizing and typically once the ‘Front Range’ of Colorado begins to rebound we (the mountain resorts) follow. The current market in Summit County has kept prices from soaring as they have in the past, yet the window for that opportunity to buy in our current real estate market may be short.

In fact, this may be a great time to start living that lifestyle you have always dreamed of and take advantage of this unique opportunity before the market goes back to a typical resort market and closes this opportunity forever. Of course, one cannot predict the future – but one can certainly grab life by the horns and start doing what you have always dreamed of and now may be just the right time to purchase a piece of that mountain lifestyle that so many desire.

If we can help you in your search for that lifestyle let us know and if you would like to receive our annual stats package simply send me an email with an address to mail the packet (my email is mail@jeffangell.com). We will be getting those out very soon. In the mean time, enjoy browsing the website and be sure to visit our other site at www.eColoradoHomes.com .

Have a terrific Colorado Ski Season.

Jeff Angell

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.

Email: mail@JeffAngell.com
Phone: (970) 668-5300
Toll Free: (800) 289-5305
Website: www.eColoradoHomes.com
Website: www.ColoradoMtnRealEstate.com

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.

Through the end of August there were 790 residential sales in Summit County (not including land or partial ownership); which is about 43% less than what we had in 2007 (In 2007 we had 1384). The average sale price for the 1384 properties that sold last year was $539,779 and this year’s 790 properties came in at $587,061!

Analyzing in a little more detail and comparing each town’s sales and average prices of the sold properties this year through August as compared to last year coupled with the number of properties over 1mil that sold during that timeframe shows more interesting information. You will find this information on the below – I hope you enjoy it.

If you are thinking of getting involved, or have a referral to send our way, in Summit County real estate (Breckenridge, Frisco, Copper, Keystone, Silverthorne, Dillon) now may be a much better time than waiting until later this year as activity is picking up.

No matter what your interest are or questions are, we can help. I have been enjoying all the Summit County area has to offer for over 20 years now and active in local mountain real estate for over 14 of those 20 years - feel free to put my experience and knowledge to work for you. When you need anything I am a quick email away at Mail@JeffAngell.com or use our online contact form.

After putting together more statistics, I found it very interesting looking back over our ‘real estate’ sales shoulder at what has been happening in our market over the past five years. Here are some interesting tidbits….

If one would of purchased an average priced property in Summit County in 2003 they would of realized an average gain of $198,495! By town that average gain would look like this: Breckenridge – $272,639, Frisco – $215,356, Silverthorne – $179,915, Dillon – $85,644, Copper $124,640 and Keystone $146,668.

In Summit County that comes to an average of $40,000 a year for five years one gained simply by owning an average property in Summit County that five years period. That is more than most people make in a year and has been gained or reaped simply by taking on the risk of ownership in our little neck of the woods.

You will find the above as well as much more detail in the statistics online at www.ColoradoMtnRealEstate.com .  Let me know if I can do anything further for you at this point in time. And be sure to contact me when you are ready to buy or sell in this area, or if you know someone who is…

Have a wonderful day.

Jeff Angell
Broker/Owner
RE/MAX Properties of the Summit/Frisco

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 15^th. 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,

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.

I’ll get more detailed information out later in January. Of course, if you want something specific right now, just send me an email with your request.

Happy 2008 and have a great rest of the day.