Where is the market at today as compared to last year at
this time? Well, the number of residential sales in Summit County is up 13% and
the average sold price is down -1% - basically flat. Splitting the county in
half shows the North Side of the county with a strong 18% improvement and the
South Side of the County with a 7% improvement. Interesting that last year at
this time the percent change between 2011 and 2010 was flip flop as compared to
this year’s with the North Side last year holding an 8.5% improvement and the
South Side holding a strong 27% improvement.
Over the past four weeks Summit County has had 167
residential properties go under contract. For the same 4 week period 2009 had
148, 2010 had 130 and 2011 had 146. Interesting that 2012 is up 13% over the
bottoming out year 2009 and up 14% over last year. Of the past four weeks 3
have had the highest new under contract count over any of the same weeks in the
prior three years (09, 10, and 11). Very positive growth.
The average price is flat countywide (-1%) and the North
Side of the county is showing a 6% improvement while the South Side is showing
a -4% reduction. Interesting that the South Side is down almost the same
percentage it was down last year (-3% without One Ski Hill Place Project Sales
in 2010) and the North Side was down -10% last year at this time. This time of
year is always interesting to see just how the market year ends up and sets
itself up for the following year.
The inventory is down to 1429 and with the same pace of
improvement about 1000 of those currently active listings will be active
on January 1, 2013. Have a look at the
attached status report where the Frisco office is 24% up, Breckenridge is up
23% and Keystone is up 65%!
Bloomberg News
