Monday, July 30, 2012

Breckenridge and Summit County Colorado

How's The Market YTD 2012?

Now that we have reached the mid-way point of 2012:
The current number of residential properties for sale in Summit County is 1600 which is down 15%, compared to the first half of 2011.
508 properties have sold so far which is an increase of 16%. Further, 214 properties are pending/under contract, a 33% increase.
Of particular interest in the present market...The average listing price of those properties that are under contract right now, is less than the average sold price of properties so far this year.
The average sold price in the county is down 4% and once the current inventory that is under contract today start to close, one would expect the average sold price to adjust downward as well.
Another tid bit, the average sold price this year would have to go up 35% to equal the average list price of the properties listed for sale today. So, obviously, we still have a whole lot of overpriced properties still on the market.
So what does this mean?
I think you know the priced to the present market are the ones selling. And, we have really nice selection of great ones still out there to buy. Now is the time to buy.
Click the link below to view all the market statistics year-to-date: