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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!”

Testimonials

Jason used amazing strategy for pricing, selling and acquisition of our next property. In this market this strategy is critical for success – especially with the buying process. Summit County real estate is a challenging market. We have bought and sold two properties and just bought our third. Jason and Meredith have been there for Continue Reading

Ben from Centennial February 2, 2022

You were very knowledgeable and supportive during this transaction. I was most impressed with your calmness and smart decision making during a chaotic process. Thank you again for your calmness during all of this.

Barbara from Centennial January 24, 2022

home in Breckenridge

We were very impressed with your professional skills, timely communication, and excellent listening skills. We felt you cared about us and our success.

Frederick from Colorado January 24, 2022

Living room in Dillon condo

(I was most impressed that they) Kept us informed through it all and helped navigate the things that needed to get down in a timely fashion. Also really appreciated help getting people to do some of the things done around the house.

Kate from Ft Collins November 4, 2021

House in Hamilton Creek

You guys did an exceptional job for us and went the “second mile” in many ways. We were most impressed with Pro-active and involved interaction with us and everyone in the process. Your team was exceptional. Recommended many things for us to do, and then helped us do them. Followed up,, checked in, and helped Continue Reading

Warren & Sue from TX August 12, 2021

Treehouse condo

Over the years we have bought and sold over 30 pieces of property and this was one of the most efficient and painless processes. Service and attention was A-perfect!

Jack from FL August 9, 2021

Gateway condo in Keystone

I very much enjoyed working with both Meredith and Jason, they really focused on our needs and questions. Their knowledge of the Summit County Area was worth its weight in Gold. Thank you guys!

Glen from GA July 27, 2021

sale of house

We were most impressed with your good judgement and advice on everything. Thank you for navigating us through the sale of our house.

David & Cecile from Boulder July 14, 2021

Copper Mountain Ski Resort

Great service- more forward leaning than previous realtors Most impressed with follow up, knowledge of local market, going the extra mile on document review and getting HOA questions answered. Good advice on price point, patience, and negotiations. Understandably you aren’t always available to look at properties, but in the crazy COIVD market there was one Continue Reading

Holly from Colorado Springs June 14, 2021

Most impressed with the dedication to getting the best deal for us! Exceptional service, skilled negotiators, truly worthy! I wouldn’t consider hiring anyone else. Thank you Meredith and Jason.

Lloyd from Salida June 4, 2021

Contact Us


Jason and Meredith Adams

Jason & Meredith Adams
Mountain Living Real Estate

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

(888) 666-0844
team@mountain-living.com

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