Summit County Real Estate – sales are down 4% year-to-date
Year to date real estate sales in Summit County are down 4% (note that at this same time 2011 sales were up 23% compared to 2010’s). Positive news – our current number of residential listings that are under contract is up just under 3% over last year, so it is possible that after these sales become actual sold listings we will break even with last year’s numbers.
While the county is down in the total number of residential sales so far this year the North Side of the county is up 22%; which is great for the North Side of the county. Unfortunately the South Side is down 30%. This will be another interesting aspect of our local market to follow and gage whether a balancing out will occur or a trend is in the process.
Current inventory of 1187 residential listings with average list price of $729,640 includes 434 single family homes/duplexes, 616 condos and 126 townhomes.
Denver Real Estate market in the news
Denver real estate market has certainly been making news recently. Today’s article in The Denver Post talks about it’s robust downtown that will attract the key demographic group — professionals ages 25 to 34 — that is essential to a thriving regional economy.
The subject was discussed this morning at the Downtown Denver Partnership Inc.’s Urban Leadership Symposium, attended by 350 business and civic leaders from throughout the Rocky Mountain region.
“The attractiveness of the west is at the top of almost every young person’s list,” said Gov. John Hickenlooper. “People are coming from every corner of the United States to the west.”
College-educated professionals ages 25 to 34 are 110% more likely to live in close-in neighborhoods than they were in 1980, said Carol Coletta, director of ArtPlace, a collaboration of national foundations and the National Endowment for the Arts to accelerate creative placemaking across the country.
“We can no longer treat urban living as an alternative lifestyle,” Coletta said. “If the city doesn’t work, then the region doesn’t work, and if the region doesn’t work the state doesn’t work. You can’t have a successful city without a successful heart — a successful downtown.”
One of downtown’s biggest boosters, Tami Door of Downtown Denver Partnership, said economic development is more than creating jobs in the heart of the city. “It’s about creating jobs in the region,” Door said. “But it comes back to where employees want to live.”
Source:Vibrant downtown Denver called key to region’s thriving – The Denver Posthttp://www.denverpost.com/business/ci_19974908#ixzz1ma0TPiG5
Among future developments in Downtown Denver are a 242-unit apartment building in Denver’s Riverfront Park neighborhood (planned to be build by a Chicago-based developer); an 18-story tower, which will include street-level retail, to the west of Union Station (planned by Vancouver, Wash.-based Holland Partners); recently announced $60 million apartment project at 17th and Chestnut streets (by Denver developer David Zucker) and a 307-unit apartment project at 20th and Chestnut (by Randy Nichols, he’s talking with King Soopers and Safeway about opening a 43,000-square-foot grocery store in the project).
“One thing we know for sure is that 25- to 35-year-olds nationally are making major movements into urban centers, and they’re desiring to live within 3 miles of an authentic urban city,” said Tami Door, president and chief executive of Downtown Denver Partnership. “Denver’s growth is exponential in attracting that particular age group. There also is a trend that more people are choosing to rent rather than buy. It gives them great freedom.”
ARA has recently closed three other land deals that were in the works about a year ago, said Steve O’Dell, ARA Colorado principal and Cowan’s partner in the transaction. He expects to close several more in the first quarter next year.
Source: 242-unit apartment project planned near downtown Denver – The Denver Post http://www.denverpost.com/business/ci_19636040#ixzz1ma3SnsI9
Late last year a segment on FOX NEWS has indicated that Denver’s real estate market was one of the hottest in the nation to invest in. I think 2012 is going to be great for Denver real estate!
Condominium sales in Summit County up 15% – 2011 in review
Condominium sales in Summit County, Colorado in 2011 were up 15% - 532 sales in 2011 vs. 484 in 2010. Average sold price of a condo in Summit County in 2011 was $340,438 – down 5% from 2010.
Interesting that Breckenridge witnessed an increase in sales of 38% and an increase in average sold price of 12%! Currently 221 condominiums are listed for sale in Breckenridge priced between $84,000 and $2,275,000, (average list price of $513,776).
Dillon also was up 27% in sales and up in average sold price by 4%. Today 29 condominiums are for sale in Dillon priced from $88,900 to $895,000 (average list price of $308,459).
Copper Mountain was flat in sales and down 13% in price in 2011. Currently 100 units are listed for sale in Copper Mountain starting at $152,000 and up to $1,419,000 (average price of $393,878).
Keystone was down 12% in number of sales and down 8% in average sold price. Today 156 condos are listed for sale in Keystone between $118,900 and $1,395,000 (average list price of $353,900).
The town of Frisco was up by an additional 5 condo sales and Frisco’s prices remained flat. 43 condos are for sale in Frisco today from $159,900 to $899,950 (average list price of 405,123). It is worth noting that rare lakefront and water front properties are available for sale at this time – ask me for details!
New listing – 2 bedroom ski condo at The Cirque, Copper Mountain
I’ve got a new partial ownership opportunity listing at the Cirque at Copper Mountain – this one is priced to sell fast for sure – $118K!
Ground floor 2bedroom/2baths ski condo with walk out access to the adult/kids pool and 21 person hot tub. South facing home with panoramic views of ski slopes and plenty of sunshine all day. Enjoy 1 week per month and day use 365 days a year in Copper Mountain’s only platinum lodge. Small boutique-style lodge with only 37 suites, family-friendly!
Great affordable option to own a ski condo in Copper Mountain – use it yourself, rent out or exchange – go to www.Resort2Resort.com – many options for property exchange around the world!
Single family homes sales in Summit County up 22%
Home sales in 2011 were up in Summit County by 22% compared to 2010 – 368 single family home have sold in the county last year (close to 2001 home sales levels). 36% of all homes sold were priced under $500K, 41% were priced between $500K and $1M and the remaining 23% were priced over $1M.
Average price of a single family home in Summit County in 2011 was $744,690, down 11% from a year ago. Price per square foot of a single family residence sold was at $259, down 5% from a year ago.
In Frisco home sales were up 38% with a decrease of Frisco’s average sold price of minus 19%! Breckenridge was up 32% in sales and down 12% in price. Silverthorne home sales were the same as 2010 and their average sold price was down 18%. Dillon had an increase of 21% in sales and a decrease of 14% in price. There isn’t enough data to determine the pricing in Copper Mountain as only 2 homes sold there in 2011.
Search for all Summit County real estate listings at Summit Real Estate Place.
A year in review – first Summit County weekly real estate update 2012
Happy New Year! Residential Summit County listings that sold in 2011 are holding at a 15% increase. That 15% translates into a 32% increase in the South Side of the county (Breckenridge area) and a 4% increase in the North Side. The North Side will obviously hold at a BIG increase and the South Side’s increase could change a bit (hopefully upward) as more data trickles into MLS.
REMAX continues to be the #1 real estate company in the county, with second place company behind by 28%! The third place would have to improve 113%, fourth 202%, fifth 313%, sixth 418%, seventh 441%, eighth 496%, ninth 528% and tenth is 528%. Tremendous percentages needed to catch up and after the second place company all would have to more than double their production to catch RE/MAX.
The market continues the trend of lower inventory, higher sales numbers and yet, lower prices. I will be following up later this week with more detailed info on the last year data in my quarterly newsletter, keep an eye out for it!
Sales are still holding at a 15% increase – weekly real estate update for Summit County, Colorado
Residential sales are still holding at a 15% increase with only three weeks left of 2011! And the number of residential listings that are under contract right now dropped from 31% last week to 14% this week – still positive, but a dramatic swing. View more in the Weekly Activity Charts and Graphs below.
Sales are up in most areas. Condominium sales are up in all towns in Summit County except for Keystone. The Keystone condo market is down about 10%. The average sold price for condominiums in the Keystone market from 1/1 through 12/10 by year are as follows: 2008 $386,053 – 2009 $367,087 – 2010 $345,459 and 2011 $313,116. We have a few weeks left of 2011 and it will be interesting to see how the year ends up.
Home sales are up in all towns with the exception of the Silverthorne market where the number of homes sold this year (as of 12/11) are flat or the same! In the only flat market the average sold price is down about 20%. The market with the largest percent gain in the number of homes sold is Frisco with a 35% increase in the number that have sold and about a 21% decrease in the average sold price.
Under contracts are up 31% – weekly real estate update for Summit County, Colorado
Ever so interesting. We are now up 31% for the number of residential listings in Summit County that are under contract! That is up from 27% last week…the current market has great forward momentum and is spreading a lot of Holiday cheer in the form of happy Buyers and Sellers as the Market keeps pushing forward.
Sales continue to go up and average sold prices continue to stay down. Homes sold in the North Side of the county are currently up about 12% in the number that have sold and down about 10% in average sold price. On the South Side the number of homes that have sold is up 30% and the average sold price is down 9%. Number of active listings is still down compared to the same time last year.
Top real estate companies in 2011 for Summit County, Colorado
RE/MAX Properties of the Summit landed the number one spot through November for Summit County Real Estate sales with 408 deals done! Slifer is second with 320, Breckenridge associates is third with 183, Cornerstone is fourth with 70, C21 is fifth with 69, and Coldwell Banker CRRE is sixth with 66 deals done.
In Frisco the top companies are RE/MAX at number one with 81 closed deals and Slifer is second with 37, Coldwell Banker is third with 19, C21 fourth with 13 and Keller Williams fifth with 10. RE/MAX has 31% of the Frisco market!
In Wildernest/Silverthorne the top companies are RE/AMX at number one with 96 closed deals and Slifer is second with 38, Omnie is third with 23, The Real Estate Group is fourth with 15 and Coldwell Banker CRRE is fifth with 14. We have 26% of the Silverthorne market.
In Dillon the top companies are RE/AMX at number one with 45 closed deals and Omni is second with 23, C21 is third with 17, Summit Real Estate is fourth with 16 and Coldwell Banker CRRE is fifth with 14. We have 18% of the Dillon market.
In Keystone the top companies are RE/MAX at number one with 63 closed deals and Slifer is second with 51 (RE/MAX is number one, Cornerstone is third with 31, The Real Estate Group is fourth with 14 and Novak & Nelson is tied with Coldwell Banker for fifth place with 12. RE/MAX has 24% of the Keystone market.
On the North Side RE/MAX is number one with 295 closed deals and Slifer is in second place with 142, Coldwell Banker CRRE is third with 60, Cornerstone is fourth with 54 and Omni is fifth with 52. RE/MAX has 24% of the North Side of the County’s market.
In Copper we are in third place with Copper real estate companies in spot one and two – 1st has closed 20 deals, second has closed 12 and third (us) has closed 10.
Breckenridge we are working hard and becoming the number one player and as of November’s end we are in third place with 113 closed deals, Breckenridge Associates in in second place with 158, and Slifer is the leader (for now) with 178.
40% improvement over last year – Weekly Real Estate update for Summit County, CO – November 30, 2011
Hope everyone had a wonderful Thanksgiving holiday! Well, believe it or not it is December…well, almost.
Our local real estate market saw two big weeks of great activity in a row!
Two weeks ago the county had an 82% improvement over the same week last year in the number of residential listings that went under contract and this past week the county had another week of improvement at 40%. In the nutshell - year-to-date real estate sales across the county are up 16% and average price sold is down 5%.
