6 Prosperous Signs for Real Estate in Summit County Colorado
Whatever the combination of elements, we see 6 signs of prosperity for sales of real estate in Summit County Colorado. Buyers are coming in from the Front Range, Texas, the Midwest, and beyond. They carefully select from Breckenridge properties in Shock Hill and land lots in Quandary Village to mountain homes in Silverthorne and Keystone condos. Locals add to the mix.
Many factors are in play. Are retiring boomers and international buyers prop up the Summit County real estate market? Perhaps buyers have received inheritance from “the greatest generation,” their parents. Is it this year’s pulsating stock market or still-low interest rates?
So what are some positive signs in the Summit County real estate market?
- Fewer active listings
- Stable year-over-year sales
- New construction
- Lower foreclosure activity
- Average sales prices inching up
- More transactions
Epicenters of Real Estate in Summit County
While there is interest in all of the communities in Summit County, Breckenridge leads the pace. Both the numbers of transactions in Breckenridge and the total sales volume are good indicators. The majority of buyers found properties in the $400,000 to $500,000 price ranges.
Competition and low inventory are each helping to drive up prices in some pocket of Summit County. Year over year, the cost for single-family homes and condos has increased about $25 per square foot. In particular, prices for Breckenridge real estate are trending upwards. Sellers have found their swing. Price properties right. That is thoroughly research prices for comparable Sold properties. Then stay close to that Listing Price. The upswing in prices has not yet reached Keystone but is inevitable.
Life is Good in Summit County
All of these elements do not push the Summit County market anywhere near the peak levels in 2008 and 2009. The average sales prices today stand around $550,000, then they were closer to $600,000. Nonetheless, there is a new life, a new era unfolding.
Summit County is poised for the new beginning. Graced with clean air, spectacular views, vibrant communities, tremendous outdoor opportunities, cultural activities, and educational programs, we will prosper over the waves into the future. The proximity to Denver, Denver International Airport, and Colorado Springs allows easy access to city amenities, too.