June 2017 Summit County Market Update

Posted by Bret and Meredith Amon on Wednesday, July 26th, 2017 at 8:17am.

Still in deep summer season here in beautiful Summit County, and what better time to look at the local real estate market conditions for June of 2017. 

In June real estate sales were up in Summit County as a whole, with an average annual growth of 13%. Inventory continues to be low which makes for an excellent seller’s market, with buyer interest being high well-priced properties go under contract in a small amount of time. Let’s take a closer look:

 

BRECKENRIDGE

For June, single family home sales have surpassed those of townhouses and condos. The number of single family properties sold has gone up by 38% from last June, while the average sale price was $1.3 million, almost a 33% increase. We also see properties staying on the market for less days than in June of the previews year, but the most dramatic decrease is that of months supply of inventory (-42% from the previews year).

See the detailed graph below.

 

FRISCO

Buyers that are in the market for a condo in Frisco will notice a super low inventory, and that applies for single family homes as well as townhouses and condos. New listings are down by 50% for homes and almost 30% for townhouses, condos and duplexes. The most dramatic increase is that of the average price per home – the number has gone up by more that 85% ($792,250 in June of 2016 to $1,468,833 in June of 2017). Sellers, this is your time to sell.

See the detailed graph below.

 

KEYSTONE/SILVERTHORNE

The Silverthone, and especially Keystone, area has had a very strong rental market. Single family homes have been on the market longer than average, and that is a sign of low inventory in general. New listings for the townhouse/condo market have been up by 32% while the average sales price in that category has also been up by 22% ($373,669 in June of 2016 to $457,490 in June of 2017).

See the detailed graph below.

KEYSTONE:

 

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, contact The Amon Team today!

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