This was another breakout week with a 36% improvement over last year for the same week for the number of Summit County Residential properties going under contract! 49 properties going under contract resulted in the second busiest week of 2012!
Where is the market at today as compared to last year at this time? Well, the number of residential sales in Summit County is up 13% and the average sold price is down -1% – basically flat. Splitting the county in half shows the North Side of the county with a strong 18% improvement and the South Side of the County with a 7% improvement. Interesting that last year at this time the percent change between 2011 and 2010 was flip flop as compared to this year’s with the North Side last year holding an 8.5% improvement and the South Side holding a strong 27% improvement .
Over the past four weeks Summit County has had 167 residential properties go under contract. For the same 4 week period 2009 had 148, 2010 had 130 and 2011 had 146. Interesting that 2012 is up 13% over the bottoming out year 2009 and up 14% over last year. Of the past four weeks 3 have had the highest new under contract count over any of the same weeks in the prior three years (09, 10, and 11). Very positive growth.
The average price is flat countywide (-1%) and the North Side of the county is showing a 6% improvement while the South Side is showing a -4% reduction. Interesting that the South Side is down almost the same percentage it was down last year (-3% without One Ski Hill Place Project Sales in 2010) and the North Side was down -10% last year at this time. This time of year is always interesting to see just how the market year ends up and sets itself up for the following year.
The inventory is down to 1429 and with the same pace of improvement about 1000 of those currently active listings will be active on January 1, 2013.
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.