Monday, March 28, 2005

Summit County Buildout Less Than 10 Years Away

An analysis done by the County planning department projects that, based on the current growth rate, Summit County will reach residential buildout by 2013. Buildout is reached when all the land zoned for development has been developed.

Summit County, including unincorporated areas and the four towns, is currently 68.7 percent built-out for residential development. Projections were compiled by country planners John Roberts and Mark Truckey.

Considering what would happen in a decade or so when the County reaches buildout, Roberts points to Aspen. "When that community reached buildout, real estate values went through the roof," he said.

Inventory of "for sale" condos is very low right now. Prices are increasing. My advice is to buy now so you can take advantage of the increasing values.

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