Summit County Colorado Real Estate Market Information July 2013
The Summit County Colorado Real Estate market has improved during the first half of 2013 compared to previous years. Residential sales volume is up over 20% compared to 2012 with over $319 million in sales as of June 30, 2013 compared to $265 million for the same period in 2012. The first quarter of 2013 was just slightly above 2012 numbers, while the second quarter came in much stronger as Buyer confidence in the Summit County Real Estate market continues to improve.
The number of residential transactions has also improved with an increase of 14.5% during the first half of 2013 compared to 2012. As of June 30, 2013 there have been 717 sales with only 626 in 2012 and 518 in 2011. News that the Summit County Colorado Real Estate market is on the upswing may concern Buyers, but the good news is that the average sold price has stabilized.
During the first half of 2011 the average residential sales price (this includes homes, condos, townhomes and duplexes) was $484,877. In 2012 the average sales price dropped to $464,880 and so far in 2013 the average has come in at $454,964. With only a 2% drop in the average sales price this year compared to 2012 and a 6% decrease compared to 2011, the Summit County Colorado Real Estate market is primed for prices to start increasing again as Buyers continue to express more confidence in the local real estate market.
While the average sales price is still down compared to previous years, each subdivision, complex and area is different. For specific market data and previous sales information about an area or complex in Summit County Colorado Real Estate, contact Krystal Knott with LIV Sotheby’s International Realty. Whether you are looking to buy or sell, let me put my experience, dedication, and expertise to work for you in the Summit County Real Estate market. Start your search of the entire Summit County MLS online or give me a call to discuss your property search at 970.333.0116. I look forward to hearing from you!