Summit County Residential Sales
Summit County coronavirus closures began in mid-March. Ski areas closed, tourists were instructed to go home, businesses closed and the stay at home orders went into effect. Real estate sales became a lot more difficult. Some sales fell apart in the early stages and it was hard, if not impossible, for buyers to look at properties to buy. These circumstances severely impacted April Sales. Pre-coronavirus sales were pretty consistent with last year. In fact, the first quarter sales in 2020 were equal to 2019 sales. The virus had a minimal impact on March sales with a majority of properties most of the way through the under contract process when Summit County started to feel the impact. January and February are normally our slowest months of the year. However, this year there were just 70 sales in April 2020. 13% fewer than January and 47% less than April 2019. A pretty significant tumble.
Looking Forward
Unfortunately, the impacts of the shut down economy will continue to be felt in the coming months’ sales reports. Buyers are still buying and sellers are still selling but at a slower pace than is typical.
May is off season in Summit County. To see fewer tourists and fewer real estate sales is pretty typical. Most events have been cancelled in June so summer will have a late start. That will push back real estate sales. We are optimistic that late summer and early fall will be active for real estate. Once again we will see plenty of visitors to our county and welcome new home owners.
Mountain Living Real Estate has been, and will continue to, take the necessary precautions to ensure the safety of our clients and our staff during this unprecedented time. Real estate sales are happening in Summit County. We will continue to be here to provide exceptional service to those looking to buy or sell Summit County real estate now and in the future. Let us know if we can help you with your Summit County real estate needs.
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