Interesting Points this week. 1. Looks like the number of active listings has peaked as the number has been hovering in the 1570’s for three weeks now. 2. The number of properties that are under contract dropped to a 5% gain over last year (at 22% last week). 3. The Summit County residential sold market is up 16.5%.
The number of active listings is down 13% and the number of new listings this past week is up 12%! Last week we had 34 Summit County residential properties go under contract and last year for the same week the county had 50 – combine the slower under contract week with a strong closing week and the county is left with a lower number of total properties getting ready to sell.
The residential sales county wide are up 16.5% with 670 listings selling; which is up from 575 the previous year. All the county is up now with the South Side being up 7% and the North Side being up 24%. Last year about this time the county was up about 20% and ended the year with a 12% gain. I mention that because history has a tendency to repeat itself and knowing what may come helps one to prepare. Kind of like, if it looks like rain one grabs a rain coat as they head out for a hike.
Last week last year was one of two weeks in which the county had 50 properties go under contract – the largest number of any week in the year! The next biggest week is coming next week where the county, last year, had 48 properties go under contract! This week last year there were 31 and the week following the BIG 48 there were 32 – and the ten weeks following are consistently right around 30 (give or take a tad). Lots of activity yet to come. Be sure to check out the new 2012 Weekly Activity format at www.WeeklyREActivity.com .
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.