July 2017 Summit County Market Update

Posted by Bret and Meredith Amon on Thursday, August 10th, 2017 at 12:35pm.

August in Summit County is the most beautiful time of the year, and the most popular to visit the area. But what about the real estate conditions for the past month? Let's take a look at the local market July of 2017. 

In July the average sale prices of real estate transactions for the entire county was up by approximately 10%, with a few number of sales  just below that figure. Inventory shows some gains from the month before, and although the number of properties under contract been up, the average prices have also shown a strong increase. Let’s take a closer look:

 

BRECKENRIDGE

For July, single family home listings have been down in comparison to the previous year (56 in July of 2016 and 49 in July of 2017) while days on the market have been down (84 in July of 2016 and 32 in July of 2017). The average sales price of condos and townhomes has gone up this year by over 27% ($515,239 in June of 2016 to $658,422 in July of 2017) while not surprising, inventory for these properties has gone down by 46%.

 See the detailed graph below.

Find homes in Breckenridge.

  

FRISCO

Frisco still has a low inventory and buyers in the condo market especially do not have many choices; single family homes are also hard to come by. In comparison to last year however, new listings for single family homes are up by 150% while townhomes, condos and duplexes are down by 14% (18 new listing vs. 21, for last July). The average price has gone well up from the previous year with an increase of over 50% for single homes ($728,000 in July of 2016 to $1,134,050 in July of 2017) and 25% for condos and townhomes ($441,211 in July of 2016 to $554,150 in July of 2017). 

See the detailed graph below.

 Find homes in Frisco.

  

KEYSTONE AREA

The Silverthone, Dillon and Keystone areas has had overall gains of 10.4% in the last couple of years. For the month July in Keystone, single family homes were on the market for zero days! An 100% decrease from the previous July (of 2016) where properties where on the market for 186 days. New listings for townhome/condo market have been modestly up by 20% while the average sales price in that category has also been up by 12% ($366,754 in July of 2016 to $412,760 in July of 2017). 

See the detailed graph below.

KEYSTONE:

 Find homes in Keystone.

 

SILVERTHORE:

Find homes in Silverthorne.

  

Interested in a particular area? We always happy to provide a detailed analytical perspective on any specific complex or subdivision in Summit County. Email us to request your customized market report today. 

 

 

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