Summit County Real Estate Market Report January 2013
The Summit County Real Estate market is showing signs of improvement with prices stabilizing and the number of sales increasing each year since the downturn at the end of 2008/beginning of 2009. The average sales price per square foot is down -27.41% from 2008 when the average was $405 compared to $294 per square foot in 2012. In 2011 the average was $298 per square foot, with only a $4 per square foot decrease in 2012 the Summit County Real Estate market data is showing signs of bottoming out.
The lowest number of sales in the past 10 years occurred in 2009 with 919 sales, compared to the height in 2006 when there were 2,496 sales. Since 2009 the number of residential transactions in Summit County Real Estate has increased 44.07% with 1,324 sales in 2012. Based on the market data it appears confidence is increasing and with prices stabilizing it is only a matter of time before prices rise in the Summit County Real Estate market. Each town and area within Summit County, Colorado is unique and market conditions can vary – below are links to the market data from 2002-2012 for each respective area:
I understand not only the differences between these separate areas within Summit County, but that each subdivision and complex will have varying market conditions and data based on the type of property, location, and other important factors. Contact Krystal Knott with LIV Sotheby’s International Realty to put our market knowledge and expertise to work for you in finding the perfect mountain property in Summit County Real Estate to suit your specific needs.