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Summit County Real Estate Sales 2018

The ever changing real estate market has been pretty apparent during the first 18 years of the 21st century. A strong start was followed by a little hiccup felt during the 911 tragedy. Then a steady push up before bottoming out in 2008. almost a decade was spent on that recovery and now, the question is, are we heading for another downturn.  The answer is most certainly yes. The real questions are when and how severe.  If only someone knew those answers.

Residential Real Estate Sales

Summit County real estate sales in 2018 were good. Not as good as 2017 which is one reason there is speculation about a downturn. Residential sales were only off 2017 by 8%. 1,830 sales during the course of 2018 compared to 1,987 in 2017. While a relatively small difference, it was the first decrease in number of residential sales since the recession.

Average Sale Price

Summit County real estate sales 2018Average sale price for a residential property was up in 2018 by 9.3% over 2017. That increase brings the average sale price to $764,785. That is the average in the entire county for all residential properties. Residential properties under $200,000 are few and far between with only 17 sold in 2018. Properties priced over a million dollars made up 20.4% of sales in 2018. About 1/5th of those sales were over $2,000,000.

Inventory Levels

Inventory is growing too. The number of residential properties for sale was up 18.6% over 2017. That is giving buyers a few more properties to choose from but options are still limited, especially in the lower price points. In early January, there were 370 residential properties for sale in the county. 51% of those 370 were priced at $1,000,000 or above.  75% of those 370 were above $600,000. That doesn’t leave many properties to choose from with a price tag around half a million dollars or less.

2019 Forecast

The amount of time the real estate market has spent pushing higher is the main reason it has to stop. The market is always changing. Every new high will bring another new low. With very few homes on the market, demand will have to decline dramatically in order to see prices go down. Perhaps the appreciation will not be as dramatic in 2019 and we will see the market level off, but I don’t anticipate Summit County real estate prices to drop just yet.

Refresh your memory with 2017’s year end numbers and see how we did with our 2018 predictions in 2017’s year in review blog post.

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Posted in: Market Statistics Tagged: 2018, Inventory, Recap, 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

Passage Point at Copper Mountain

Jason was very patient with us and was dedicated to helping us find the right property for our family’s needs.  During the closing process he was very knowledgeable , and a great communicator so that we knew what would happen at every step.  Wasn’t always available when we had time to see properties.

Colleen from Colorado January 17, 2017

Condo in Keystone

Meredith was very friendly, professional and knowledgeable.  She always returned phone calls promptly and provided information beyond expectation.

Steve & Mary from Colorado June 9, 2017

River Mountain Lodge in Breckenridge

Everything they did was GREAT! We will definitely use them again when the time comes.

Lou & Lori from Pennsylvania June 9, 2017

Lake Haus Condo

The Mountain Living Team was extremely prompt and efficient throughout the sales process. They were very friendly and personable in our interactions with our renter. As a non-resident second home owner, we needed help selling our Summit County condo. The Mountain Living Team were excellent.  They know the Summit County market very well and priced

Rex & Sherri from Colorado August 2, 2017

Single Family Home in Dillon

The negotiating skills you brought to the table to ensure we got the best price for our home were exceptional! Thank you Jason and Meredith you both have made our transition so much easier and having you both working on our behalf was very comforting.

Shane from California September 16, 2017

Royal Glen in Frisco

Never had any contact with Jason but Meredith went above and beyond helping us in selling our townhome. It was a bumpy start and somewhat bumpy finish due to the buyer but she handled it like a Pro! We will miss Frisco and wish you all the best. Happy Holiday and Thank you

Diane & John from Florida November 15, 2017

Mountain Side in Frisco

Once again, we greatly appreciated all you do for your clients! We definitely appreciate the special care and attentiveness you provide in both the process of buying and selling a property.

Lillian & Kai-Peter from Washington December 22, 2017

Breckenridge home

Meredith was almost always available on short notice.

Bob from Missouri December 27, 2017

Home in Keystone

You were amazing. We couldn’t have asked for a better experience. (Most impressed with) The speed with which questions were answered and the quality time taken to do so. The fact that the relationship does not end once the purchase has been made.

Alexi from Colorado January 26, 2018

Breckenridge Home

Meredith worked hard to understand what we were looking for and was patient with our search. Her knowledge of Summit County area was super helpful in guiding us to areas we may find a good fit.  I always felt that Meredith had the time for us during our search, selling of a lot and purchase of

Cristina from Colorado January 27, 2018

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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