Summer has finally arrived in beautiful Summit County, and what better time to look at the local real estate market conditions.
For the month of May, the number of real estate sales have gone up in comparison to April as well as that of average sold prices in the area. Inventory is still low but rising due to normal seasonal fluctuations, and interest is high, so we are seeing continued strong under contract activity across the board. Let’s take a closer look:
Interestingly enough, the number of active listings in Breckenridge is within compelling distance of the previous years’ numbers. This is great for buyers, however we are still in a competitive market and a good example of that is the condo and townhome sales averaging 98% of the list price. See the detailed graph of the median sales prices below.
The local Frisco real estate market has picked up significantly from around the same time last year. The number of new single family listings has doubled while the also the average sales price (thus home values) has gone up by almost 53% ($760K in May 2016 to over $1M in May 2017). The condo market saw increases, though not as dramatic. See the detailed graph of the median sales prices below.
In the Silverthone/Keystone area the condo and townhome market has shown bigger increases than the single homes section. Last May the average sales price for single family homes was $1.2M while this May has gone up to $1.4M (a 21% increase). Condos and townhomes on the other hand have gone up by more than 40%. See the detailed graph of the median sales prices below.
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!