Summit County CO Real Estate Market Update
2011 Year End Results
With 2011 in the books, it’s time to reflect on this past year with a 2011 Summit County CO Real Estate Market Update. When looking at the sales data for Summit County CO Real Estate from 2001 – 2011, a significant change in sales volume took place due to economic effects in 2008 finally taking hold in the Summit County Real Estate market.
While it is clear the number of sold transactions started to decline in 2008, they did rebound in 2011. While the market has not made a full recovery back to the height of the Summit County CO Real Estate market in 2006, sales are increasing and the average sold price per square foot is down.
The average sold price per square foot in the Summit County CO Real Estate market for 2011 came in at $299/square foot which is significantly lower than the height in 2008 at $405/square foot. The 2011 average sold price per square foot is the same as the 2005/2006 market, making it an ideal time to purchase Summit County Real Estate now before prices possibly begin to rise in 2012.
Total sold dollar volume in Summit County Colorado is slowly recovering but with prices still down and the number of transactions increasing, recovery has thus far been somewhat slow. If your intentions are not purely investment and you are looking to purchase and enjoy a mountain property (and possibly even rent it out while not using it), market conditions are still yielding motivated sellers which can make for a great deal on your new 2nd/vaction home in Summit County CO Real Estate.
Interested in exploring options in Summit County Real Estate? Contact Krystal Knott with LIV Sotheby’s International Realty to make your mountain property dreams a reality.