Let it snow, let it snow, let it snow! 2017 is off to a banner year for snowfall as it keeps snowing across all the Colorado ski resorts.
In 2016 the Summit County real estate market made strides as well with an increase in the average sold price despite a -4% decrease in the number of transactions due to low inventory. Here are a few statistics from the Summit County, Colorado real estate market in 2016:
– Out of the 1,839 residential sales in Summit County, Colorado (down from 1,917 in 2015) 968 (53.63%) sold for under $500,000 while 220 (11.96%) were sales over $1 million
– The average sales price in Summit County increased +5.92% from $568,165 in 2015 to $601,799 in 2016
– Condo sales accounted for 52.69% of all transactions with all towns sold price per square foot increasing and many had an increase in the average sales price as well
– Breckenridge’s average purchase price for single family homes rose +3.34% from $1,104,265 in 2015 to $1,141,105 in 2016
– Townhomes and duplexes across Summit County had a +12.04% increase in the average sold price and a +10.20% increase in the average sold price per square foot
– Wondering how many transactions occur each year by area…?
Overall, the Summit County, Colorado real estate market in 2016 continues to show signs of recovery with considerable increases in the average sold price and sold price per square foot compared to 2015. Whether you are looking to purchase or sell a property in Summit County in 2017 let Justin and Krystal Knott with LIV Sotheby’s International Realty assist you with the process. With over 20+ years combined full time experience we are your local experts. Call us at 970.333.9050 or email us directly at knott@sothebysrealty.com.
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