When 2016 ended the year with slightly fewer sales than 2015 it gave us some pause. We began to wonder if this was an indicator. Has the steady increase in our residential real estate market begun to stutter? Unfortunately, there was no one to give us an answer. All we could do was wait and see what would happen in the coming months and re-evaluate. Well, just one month has gone by. Judging from January 2017 sales, the market is still looking strong.
January 2017 sales in Summit County posted strong residential sales, up 29.8% over January 2015 with 113 sales. That beats January sales for the last 9 years and 14 of the last 17 Januarys! The only years with stronger January sales this century were 2001, 2006 and 2007.
As usual, Breckenridge had the bulk of the January sales with 42%. Frisco contributed the least with just 8% of the sales. That could be partially due to the very low inventory levels in Frisco. Frisco has only 4% of the inventory in the county but managed 8% of the sales. Dillon is in a similar situation with only 3% of the inventory but carrying 11.5% of the January sales.
Both Land Sales and Partial Ownership Sales were strong in January. January sales in those categories, however, barely make a dent in the annual sales numbers.
We will continue to watch the market as we push further into 2017. January is giving us no indication that the market is stalling and it is actually looking very strong. It’s impossible to know the future all we can do is try and spot the subtle clues we see and hopefully interpret them correctly. Let us know if you have questions about the Summit County real estate market. We’re here to help with any of your Summit County, Colorado needs.