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2018 Third Quarter Real Estate Report

2018 Third Quarter salesAfter three quarters of 2018 the number of residential properties sold is slightly behind last year at this time. The number of cash sales is slightly down also. However, all other categories are still going strong for the 2018 third quarter.

Residential sales

The number of residential sales dropped 6.6% however the dollar volume was up 3.2% and the average sale price up 10.5%. The reason for all of these changes is likely the lack of lower priced residential properties.   The sales of properties priced under $300,000 have dropped to less than half the number there was in 2017.  After nine months of 2017, 251 properties sold for under $300,000.  This year that number is 116.

Cash Sales

The number of cash sales dropped ever so slightly from 30.6% of sales to 29.2%. Still, pretty consistent over time.  You’re looking at about one in every three sales being a cash purchase. With an average sale price of $762,129 that’s a lot of affluent buyers.

Quick Sales

Properties continue to sell quickly. 65% of all properties are under contract within the first 30 days. That number jumps to 77.8% if you push the timeframe to 60 days.  That is a 2% bump over last year.  With that said, there are still properties that take more than a year to sell, even in this market.

Land Sales

Land sales are doing well. Generally lower inventory markets make more people decide to build. Higher prices encourage builders and developers to buy lots to build on. We have both of those in this market. As a result, Land sales are up 11.5% this year. The average sales price has climbed 15.9% to $407,455. Land sales are quicker this year too with about one-third selling in the first 30 days compared to one-fourth in 2017.

We will probably see a slight decline in residential sales numbers when final numbers are in for 2018. If so, that will be our first decline since we started to head back up after the recession. Everything else in our market continues to look good so it’s easy to write that sales decline off as low inventory. We are hearing about signs of slowing in other markets, however, leaving us cautiously optimistic.

Posted in: Market Statistics Tagged: 2018, Land, Q3, Residential

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About Us

Mountain Living Real Estate, a.k.a. The Mountain Living Team, is a family owned, second generation, real estate company that has been helping buyers and sellers in Summit County since the early 90’s.  Mountain Living Real Estate is committed to going above and beyond to ensure their clients have the most amazing real estate experience possible.  Jason & Meredith take a personal approach to educate their clients, empowering them to make high quality decisions no matter the situation.  They take exceptional care throughout the sales process and beyond; striving to make each client’s path in Summit County one filled with fun, excitement & great memories.

Work with Mountain Living Real Estate and you’ll understand why so many people say, “We Love Mountain Living!”

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William from TX Mountain Living Real Estate November 25, 2020

Honest and realistic about pricing and negotiating. On the clients side for negotiations. Willing to go extra mile for anything we needed since we were out of state.

Kristin from VA Mountain Living Real Estate October 6, 2020

Thank you Jason and Meridith for all you did . We were very impressed from the start to the finish . Jason was very timely with his responses to any questions or concerns we had . His very calm and professional demeanor was most reassuring. The photos that Meridith took were professional grade . All Continue Reading

John from Idaho Springs, CO Mountain Living Real Estate October 2, 2020

Jason and Meredith exemplify what real estate agents should be.  We purchased two homes and sold one with them.  The attention to detail was outstanding.  It is rare in today’s world to find such a high level of customer service.   Jason and Meredith handle everything and go way above and beyond what other agents would do.  The online tools, calendar Continue Reading

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Sheila from KS Mountain Living Real Estate September 10, 2020

Most impressed with timeliness and response – working with us late in the evening. It was a pleasure. Appreciate the opportunity to work with you.

Kevin from Highlands Ranch Mountain Living Real Estate September 4, 2020

You did a wonderful job. You went up to the condo several times. Not only did you take pictures, but you set up the dining table, etc. for better showing. You came in for inspection follow up, etc. All much appreciated!! All the extra special touches and great communication from listing to closing meant a Continue Reading

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Buffalo Ridge Condo

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Jason and Meredith Adams

Jason & Meredith Adams
Mountain Living Real Estate

101 Main St, #109, PO Box 4115 Frisco, CO 80443

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team@mountain-living.com
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