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Summit County Real Estate Wrap-Up
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January and February Real Estate Sales: The number of sales dropped 10% and it took 38% longer to sell a property. The list-to-sold percentage price remains strong; about the same as it was last year for this time period at 98%. The average residential sold prices climbed up by 14%.
New Construction: Approximately 57% of what is currently pending or under contract today is new construction.
$1,000,000 + Sales: One million+ sales have increased by 5% as compared to January and February of 2018 and currently represent about 23% of the sold market. Of the current pending properties, 25% have a list price of over $1,000,000 and of the active listings, 47% are currently listed over $1,000,000!
Sales by Area: In Summit County so far this year, 34% of the sales occurred in the south (Breckenridge) and 66% in the north (Frisco, Copper, Dillon, Silverthorne and Keystone).
SFH and Condos: Condominium sales are down about 9% with their average sold price down ranging from $45,000 to $462,000. SFH or Single-Family Home sales are up by about $300,000 to around $1.4 million, driving the average sold price increase for residential sales so far this year.
The graph below shows the average sold price and the number of sales for January and February for each year from 2000 to 2019.
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| Top Do's & Don'ts for a Quick Sale |
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What's the secret to selling your home quickly and for the best possible price? The tips below can help you achieve your goal.
What to Do
Get out of Dodge: When potential buyers view your home, they want to see your property, not you. Always leave the premises. The buyers will feel more comfortable and are likely to spend more time looking at your home and fully considering it if you are not there.
Put out the welcome mat: Go the extra mile to make your home show well. Declutter. Clean. Turn on all lights and open all window treatments before showings to create a bright, airy atmosphere.
Partner with a pro: A real estate agent knows what works best in your market. He or she can provide valuable input to make your home stand out among the competition.
What Not to Do
Take it personally:
A home filled with personalized décor can turn buyers off. Neutralize your home to make it appealing to the maximum number of buyers. This might mean removing family photos or repainting your bright orange bathroom.
Clutter your closets: When you declutter your home, don't simply throw everything in the closets. Your storage spaces need to look large, useful, and inviting.
Overinflate the price: While you want to get the biggest bang for your buck, overpricing your home generally delays your sale. Consult a real estate agent who can help you determine the right price for your home based on features, location, and current market trends. |
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| Wondering How Much Your Home Is Worth? |
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How has the price of your home changed in today’s market? How much are other homes in your neighborhood selling for?
If you’re wondering about prices in your area, or thinking of selling your home, I can help.
Just call my office at 800-289-7005 or email me at kelli@kellisells.com for a professional price analysis. There is absolutely no obligation.
I’ll give you honest feedback about the value of your home. And I’ll also give you the inside scoop on what’s happening in the housing market in Breckenridge, Dillon, Frisco, Silverthorne and Keystone.
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| "Dear Seller" Letters Offer Unique Negotiation Strategy |
In some areas, buyers are including these letters when they submit offers to purchase a home.
What is a Home Buyer Letter?
It's an attempt to make a buyer's offer more personal and appealing. The goal is to encourage the seller to choose the writer of the letter over another buyer.
In hot markets, a seller may receive multiple offers and then have to choose which offer to negotiate or accept. To make their offers stand out, buyers are using letters to try and persuade sellers that they should accept their offer over others.
What is Included in the Letter?
The contents vary. Buyers often mention the features of the home that they love, discuss how they plan to use the house, or reassure the sellers that they don't plan to make significant changes to the home. This can prove helpful in situations where
the seller has lived in the home a long time or the property has been in the family for generations. Buyers may also include personal information such as hobbies and professions to try to further connect with the seller.
Does it Work?
Apparently, it can. Real estate agents have reported instances when sellers did not choose the highest bid because of a letter included with a lower offer.
Of course, this tactic is not guaranteed to work. For many sellers, price is all that matters. And to others, the letters can come across as corny or inappropriate.
Is this a good strategy to use for your next offer? Should you polish up your writing skills and submit a Home Buyer letter?
Consult your real estate agent to determine the best strategy for your situation. |
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Kelli Bennett
RE/MAX Properties of the Summit
220 South Main Street
P.O. Box 4600
Breckenridge CO 80424
970-390-9311 Cell
800-289-7005 Office
970-453-7365 Fax |
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| www.kellisells.com |
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| kelli@kellisells.com |
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| License # 40008935 |
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Breckenridge Events
Through March 17. Sevens, the on-mountain restaurant at Breckenridge Ski Resort will be renamed O’Sevens for the month of March in honor of St. Patty’s Day, and will be hosting a variety of Irish
festivities. They are also hiding gold cans in their new 12 packs of Nitro Irish Stout from now to St. Patty’s Day and anyone who "strikes gold" can enter to win a trip to Ireland!
Through March 30. Boeing, Boeing at the Breckenridge Backstage Theatre. 7:30 p.m. 121 Ridge Street. |
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| Want to Sell Your Home Fast? Get My Free Guide |
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Preparing your home for sale can make the difference between getting the price you want - or ending up disappointed.
Discover some easy things you can do by requesting my free guide, "50 Tips to Prepare Your Home for a Speedy, Top-Price Sale." |
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| Just reply to this email and I'll send it right out to you. |
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| Click here to see a web copy of this newsletter |
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| Ask Kelli: |
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Should I order a home inspection for the home I am purchasing?
The short answer is yes.
Buying a home is likely one of the most significant investments you'll ever make. You want to make sure it's a good one.The inspection can reveal home defects that you would otherwise remain unaware of until after you move into the property. By using a home inspection to discover issues up front, you can either walk away from a potential money pit, negotiate with the sellers to make the repairs or to reduce the purchase price by the cost of the repairs.
If the inspection reveals no concerns? You can then have peace of mind knowing you are buying a property with no hidden issues. It's a win-win. |
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