Summit County Weekly Market Update May 31, 2020

Market Trends

Weekly Market Update

The Week of May 24-Pending sales JUMPED up 50%! Short-term lodging is now open, come see us and look at some fine homes. We should see an increase in pending contracts. Properties closing last 30 days maintain 97% of list price. With interest rates historically low we are looking at an active market. It's a great time to buy while prices are being reduced. 

5/31/20   671 Active  138 Non-preconstruction Pendings

Pendings; median DOM 25 Ave 71
Price Decrease (35)
Price Increase (7)
New Listing (73)
Back On Market (8)
Pending (62)
Sold (19)
Withdrawn (20)
Expired (6)

For the Month of April 2020 Market Analysis % Change; Monetary volume ($63,531,993) in April 2020 was down 59% from April 2019. Transactions (92) were down 45% from April 2019.  YTD 2020 Monetary Volume is pacing 22% down from YTD 2019. YTD 2020 transactions are pacing 15% down to YTD 2019. This is mostly due to the shut down of the ski areas and showing properties during the high season. It appears June is going to be bounce back month. 

I hope you're safe and healthy and planning on coming to see us this summer!

As always, I appreciate referrals. If you can think of anyone who could benefit from my professional real estate services, please let me know.