Greetings from Summit County! You have received this Quarterly Newsletter because you are a client of The Barr Team – Henry Barr, Christine Guinn and Kate Marrone. This Market Update contains tons of great information comparing Year End 2015 to the previous years. In addition to the great graphs and stats below, don’t miss the “Detailed Stats by Resort Town” section at the bottom right. The links in this section take you to great .pdfs that break the county down by property type and area/town.
For more specific information on recent activity in your exact neighborhood, please contact us anytime. We’re happy to give you a more in depth update on your neck of the woods!
Sold Prices Up 9% & Number of Sales Up 14% – Happy 2016!
The average sold price for residential real estate in Summit County in 2015 came in at a 9% increase to $555,402 and the number of sales jumped up 14% to 1925. A very good real estate sales year in Summit County, Colorado.
Notice the very large double digit gains in the $500,000 and above price ranges in the chart to the right (or below if viewing on your iPhone).
The inventory is still very low, but it is typically low this time of year and should continue to increase as the year progresses and certainly after the ski season ends; which is when the largest surge of added inventory will happen.
Interesting: How far are we from the peak years in the roaring 2000’s? Well the residential average sold price for Summit County is off by about 11% or needs to go up another 11% to equal the peak year’s average sold price in 2008. The number of sales needs to improve a bit more to equal the peak year in the number of properties sold that occurred in 2006 – the county would need to see another 30% increase in sales.
RESIDENTIAL PROPERTIES SOLD: The 2015 sales activity was brisk with all areas showing substantial improvements in the number of sales. This improvement occurred even with a low inventory throughout 2015. It will be very interesting to see just how the low inventory, high demand along with improving prices will be reflected in the value placed upon the up and coming ‘New Listings” in 2016.
Very strong average sold prices throughout the county in 2015…simply check the homes and condo average sold prices below and the detailed stats by resort town links (below as well). All have been updated to reflect year end activity.
To see the whole newsletter, click here: MEGA Market Update – January 2016