Summit Real Estate Newsletter

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NEWS & VIEWS

WINTER 2018/2019

The Bright Choice DILLON • SILVERTHORNE • KEYSTONE • FRISCO • COPPER MOUNTAIN • BRECKENRIDGE

SUMMIT REAL ESTATE THE SIMSON TEAM

HOW’S THE MARKET? MARKET FORECAST 2019 Supply Undoubtedly, you are well aware that in Summit County, the $600K and under range was a “sellers” market for all of 2018. What you may not know is that inventory usually sees a build-up in the fall as demand tapers off. Fall 2018 saw a slight increase in inventory! In the under $300k range, supply is so paltry as to seemingly be headed for extinction! Early in 2019, active Listings are up 373 compared to 303 this time last year. There appears to be a bit of softening happening in the Summit County market – almost entirely in the upper, luxury price range, but under $600K is still white hot! For Buyers, you will need to be ready – have your “head on a swivel” to be able to see and pounce on opportunities as they arise. For most Sellers, you should enjoy competition from buyers and stronger pricing. Luxury- over about $1.2M, is showing some signs of slowing. More inventory and more price reductions.

The Summit Real Estate Team

WHAT'S INSIDE Summit County..................................................... PAGE 2 Silverthorne............................................................ PAGE 3

Overall in Summit County:

Dillon....................................................................... PAGE 4

f the 1,829 sales last year, 372 (20%) were over $1M and 78 (4%) O were over $2M.

Keystone................................................................ PAGE 5

The median price for all sales was $605,000. (2017=$552,500)

Breckenridge......................................................... PAGE 7

Median price for Single Family Residences= $1,027,500

Meet Summit Real Estate..................................PAGE 8-9

Median price for Condos= $424,000

Featured Listings............................................PAGE 10-11

Highest sale: $4.7M.

Calendar of Events........................................PAGE 14-15

Lowest sales: $83K. (What a RANGE!!)

Resource Guide.................................................. PAGE 16

Copper.................................................................. PAGE 6

Demand Demand for properties in Summit County is strong and we know why! People are craving some respite from the hustle and bustle of their daily lives. Summit County has always been a place where you can come to re-charge your spirit and re-connect with those you love. According to the National Association of Realtors Investment & Vacation Home Buyers Survey 72% of all vacation owners and 71% of investment property owners believe now is a good time to buy!

Appreciation As we know, supply and demand ultimately dictate appreciation. It should come as no surprise that appreciation was greatest in the lower price ranges due to low supply. Overall, Summit County properties appreciated 9% from 2017 to 2018 (Average price increased from $699,774 in 2017 to $764,785 in 2018)

Agents We rarely talk about real estate agents – although they certainly can impact the marketplace in subtle ways. It may be of interest that there was a 6.6% increase in the number of real estate agents since last year as rookies continue to enter the field. While agents certainly don’t set the marketplace (supply and demand do) they certainly can influence the buying and selling experience. Agent skill impacts the counsel clients receive on market behavior or not; negotiate the highest market value or not. In a changing market, it pays to

Thinking about buying a mountain home? VISIT SUMMITHOMEBUYER.COM

Do you own property in Summit County? VISIT SUMMITHOMEVALUE.COM

work with a Broker who has been at this for a while and can give you the best, most accurate advice on the market and pricing.

Summit Real Estate is here for you when you need the best in negotiation skills, marketplace knowledge and standout service. Whether buying or selling real estate in Summit County, we know that the MOST IMPORTANT transaction is YOURS!


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