Amazingly this past week is a deja vu of the same week last year! This past week was a déjà vu with the exception of a couple extra new listings, one more NUC and one less sold; which is pretty much our market recently – very similar to July 2011.
Showings that we are able to track (RE/MAX Properties of the Summit’s) are down 7% in July as compared to last July (considering that we sell more real estate than any other firm in Summit County those results are a good indication of the saleable market activity). The flip side is that the market, so far this year, is up for Summit County Residential sales by 14%. And that 14% is a drop by one percent from last week.
The number of active listings is now down 12% and the number of pending residential listings in Summit County is up 16%. Take a look last week’s activity online at WeeklyREActivity.com.
The average list price in Summit County is $678,873 and the average sold price this year is at $520,153 (down -2%) and the average list price of the residential listings in Summit County that are under contract is now at $530,269 (a big deal went under contract this past week at a 3.5m list price). Interesting that even at the $530k average list price for the under contract listings the average list to sale price is 94% so that $530k will, most likely, change to a $498 average sold price; which is a downward momentum from the current $520k average.
All those changes are typical for this time of year as the bulk of the annual business takes place during the second half on any given year. Also, we are not alone, our market slowdown is following a nationwide lull that started in June. With about two weeks until our market peaks for activity for the year the outcome will prove to be very interesting as will the winding down of our typical real estate sales cycle through the end of October. IE: Will it remain the same as last year or gain traction and improve?
RE/MAX Properties of the Summit
Http://AllMarketStats.com – go here to view all the local Summit County real estate statistics, trends and history including sales Data from MLS for Condominium, Townhome, Land, Single Family Homes by Summit County, Breckenridge, Frisco, Copper Mountain, Keystone, Dillon and Silverthorne including Wildernest.
Http://HowsTheMarketUpdate.com – go here to read the local real estate market weekly update for Summit County and all the resort towns.
Http://WeeklyREActivity.com – Looking for just the real estate numbers; such as the number of active properties for sale, what went under contract this past week, Sold recently and year to date as well as Summit County’s total number of resort properties under contract on any given week.
On Facebook – Real Estate updates on Summit County including photos, graphs and more.
Source: Summit Association of Realtors’ MLS Data for Residential (Condos, Townhome, Homes, Duplexes) in Summit County, Colorado only. Summit County consists of various Colorado resort towns such as; Breckenridge, Frisco, Copper Mountain, Keystone, Silverthorne including Wildernest and Dillon. * The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important.