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Average Sale Price in Summit County Continues to Climb

graph showing the average sale price trending upWhoa! The average sale price in Summit County is up again! In the last 12 months that ended February 28th,2019, it’s up 10.1% over the same period one year earlier. Before you get too excited, realize that doesn’t mean every home in the county appreciated by 10.1% in the last 12 months. There’s a lot of data to interpret before jumping to a conclusion like that. No two years are identical. Factors like the number, location and price of the sales during the year will impact the average sale price in Summit County.

Number and Location

Residential sales were slightly lower in the most recent 12 month period, going down 8.9%. However, the ratio of sales in each town was very similar year over year. Breckenridge generally makes up just under 40% of the sales in the county which is still holding true.

Sale Prices

The biggest changes were in sales at both the highest and lowest price points. In the period ending February 28, 2019, properties selling for $1,000,000 or more made up 20% of the annual sales while only 8.7% of the properties sold were under $300,000. During the previous year, $1,000,000+ properties made up 16.6% of sales and 13.9% were under $300,000. The last 12 months saw an increase in high end sales and a decrease in low end sales. That change made a significant impact on the average sale price.

Appreciation

In the current market, unless the condition has declined substantially, there is no doubt your home is worth more than it was one year ago. However, a number of factors go into evaluating a home’s value. Updates, location, condition and views are probably the most important.  Unfortunately, there isn’t a simple formula that we can use to determine your current value. The annual change in the average sale price in Summit County isn’t the answer. Zillow and many other sites try and automate the value of homes in every market. Sometimes they are right on target, other times they aren’t even close.

If you are considering selling your Summit County home, we are happy to provide a personal, no obligation, market analysis that is put together by a Realtor, not an algorithim.

If you are buying, we go through a similar process prior to submitting an offer.

When you’re buying or selling, it’s important to have an idea of market value to help you make the critical decisions in your life. You can count on Mountain Living Real Estate to provide accurate information when you need it.

 

Posted in: Market Statistics Tagged: Appreciation, Average Sale Price, Home Value

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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

We were most impressed with their team work and insights. We enjoy working with Jason & Meredith. We trust them and know we can count on them. This is our 6th transaction with Mountain-Living!

David from Evergreen June 16, 2022

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Brad was most impressed with Jason for his honesty. He could think of nothing that he should or could have done to make the transaction better.

Brad from KS May 3, 2022

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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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Jason & Meredith Adams are both licensed to sell real estate in the state of Colorado

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