2014 Real Estate Year in Review – January 2015

Kate Marrone Market Stats, Monthly Newsletters Leave a Comment

Inventory Very Low with Pending Activity Up.

Last year at this time the available properties to buy were down about 10% and the increase in the number of properties under contract was up about 10%. This year is kicking off very similar with a decrease in inventory and a strong improvement in pending activity.

One item that is different this go around is that in 2013 the Residential Average Sold Price dropped about 5% and this time  (2014) it improved by about 5%.

Sales are positive throughout the county with very strong (double digit) improvements in Dillon, Frisco, Silverthorne, Keystone & Copper. The number of sales peaked in 2006 at about 2496 – about 801 more properties sold than what sold in 2014. 

The average sold price settled into a positive gain in all areas in Summit County except for two (Keystone & Copper). All other areas are just below a +5% gain with the exception of Breckenridge’s double digit improvement! The average sold price peaked in 2008 at about $614,000 – about 100k more than 2014’s.

Home Sales: Summit County home sales are down in number and up in average sold price. The decline in sales range from a low of minus 41% drop in Keystone to a 15% gain in Silverthorne. While the average sold price improvement ranges from almost a 16% gain in Breckenridge to a 21% loss in Keystone.

Condo Sales: Sales as well as the average sold price for condo sales in Summit County are up. In fact, sales are up 16%! Condos represented some rather large gains in 2014 with towns showing 14%, 28%, 30%, 37% gains – BIG BIG gains. The various town’s average sold price saw primarily single digit gains with a couple double digit improvements.

To see the whole newsletter for January 2015, click here: January 2015 eNewsletter