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Summit County Real Estate Update
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Chart Above: The graphic shows the comparison between January 1 - February 29, 2020 and the same period in 2019. The total sales are low, but annual trends tend to start setting in for the year after the first quarter. The trend so far is a slight improvement in price and slight decline in sales.
January - February: The number of sales was down by 8% and it took about 3 extra days to sell a property vs. 2019. The percent of list-to-sold price remains high but is down to 97.5%, while the average residential sold price has moved up by 3%.
New Construction Sales: In January and February new construction represented 15% of the sold market. As we roll into March, new construction represents 37% of what is currently under contract—an increase of 2% in one month.
Inventory: The
inventory of properties for sale is up 5%. It is typical to see the inventory increase as ski season winds down and it will continue to increase until sometime in August, if history repeats itself.
Interesting: Frisco sales dropped slightly, but if we ignore the new construction sales that occurred in 2019, then the sales increased substantially (around 39%). The average sold price in Frisco rose 48%, but if we again ignore new construction from 2019, the average sold price rose in 2020, but only by 16%. |
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February saw Snowmaggedon in Breckenridge
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Last month, Breckenridge had its snowiest February on record. As of February 17, Breckenridge had received 288 inches according to the Summit Daily. The chart below shows snowfall totals in feet from December on. So far, March is looking pretty good for spring skiing and shredding.
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Daylight Savings Time Has Arrived! Enjoy the Extra Evening Sunshine.
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This newsletter and any information contained herein are intended for general informational purposes only and should not be construed as legal, financial or medical advice. The publisher takes great efforts to ensure the accuracy of information contained in this newsletter. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused, that result from its use. Seek competent professional advice and/or legal counsel with respect to any matter discussed or published in this newsletter. This newsletter is not intended to solicit properties currently for sale. |
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