Summit County Colorado Market Report December-19

Market Trends

Real Estate Advisor-December 2019 Market Report Courtesy of Land Title Guarantee CO.

Market Analysis % Change 2019 vs 2018: Monetary volume ($168,612,665) in November 2019 was up 10% from November 2018. Transactions (231) were up 2% in from November 2018.  YTD 2019 Monetary Volume is pacing 7% ahead of YTD November 2018, and transactions are down 5%.

Comparative Historical Cost Analysis: Average Indicators for $: Single Family +11%, Multi- Family +8% and Vacant Land -6%.                    Median Indicators for $: Single Family +9%, Multi- Family +11% and Vacant Land -7%.

Luxury Market is the hottest segment of the market;   -YTD '19 402 properties sold for a $1M and over  -YTD '18; 349 properties sold at $1M and over  -YTD '17; 311  properties sold at $1M and over. That's a 30% increase in just two years.           

Time on Market; This is trending upwards. Median days on Market for February '19 was at 34, May was down to 15. October crept back up to 34. November Jumped to 41. Average days has skyrocketed to 81 which means things are slowing. This is an opportunity to negotiate. Best conditions in years for Buyers!

Inventory is down under 500, typical for this time of year. One thing you can be confident of; if it still on the market the seller is motivated. Ski season has begun. You still have time to get in for the season for a great vacation or to receive those big rental proceeds check. The time has never been better, what is holding you back?! 

See the complete report from Land Title