Summit County Real Estate Market Update
The most recent Summit County Real Estate Market Update for the end of February 2012 is looking good. Overall, the number of sold transactions are up over last year at this time and the average sold price per square foot is down. This trend is still supporting a Buyer’s market in Summit County Real Estate.
The number of residential sales in Summit County Real Estate at the end of February 2012 is up 4.7% over the same period in 2011, up 22.8% over 2010 and up 46.5% over 2009 sales. While we are not back to the same number of sales in 2008, the Summit County Real Estate market most certainly continues to improve.
With the number of sold transactions increasing and the average sold price per square foot the lowest it has been in years, it is definitely a great time to consider purchasing Summit County Real Estate. From January 1 – February 29, 2012 the average sold price per square foot for all Summit County residential sales was $295. This is down 5.4% from 2011, down 10.2% from 2010 and down 19.3% from 2009.
While no one can predict when or if the bottom has hit in the Summit County Real Estate Market, many buyers are taking advantage of current market conditions with confidence that they are at least near the bottom and happy to get in while prices are still down and motivated sellers still exist.
If you are considering buying or selling Summit County Real Estate, contact Krystal Knott with LIV Sotheby’s International Realty to find your perfect property in the Colorado Mountains!