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A Great First Quarter for Residential Real Estate

Graph of quarterly sales
First quarter residential real estate sales in the big picture

Despite low inventory levels, it’s been a great first quarter for residential real estate sales.  Sales are up over 2016 and the highest we’ve seen in a decade.  Inventory is starting to build so hopefully we can sustain an even better second quarter.

Residential sales in January were great; up 29.9% over 2016 and the most January sales since 2007.  February was not as good.  We actually lost a little ground with a decline of 20.7%.  March pulled the quarter back up with another double digit gain; up 38.5%.  That brought the total quarterly residential sales to 330, up 16.6% over 2016.

Inventory has been on the rise since mid March.

Inventory has been on the rise since mid March.  It’s still low for this time of year, ideally I’d love to have double the listings we have now.  However, the increase is starting early this year.  Because there is so little competition right now, properties are coming on the market hoping to find a buyer that has been waiting and get a premium price on their property.

At the start of April, the type of activity we are seeing in a given week is about 50 new properties on the market, 43 going under contract, 19 price decreases & 7 that were under contract but fell apart and are back on the market.

The second quarter always has more sales than the first quarter for residential real estate sales.  The third quarter will have more sales than the second quarter.  Typically the third quarter has the most sales but we have been mixing it up recently with some really good fourth quarters too.  Last year there were nearly 60% more sales in Q2 than in Q1.  We will need, and should get, a lot more properties on the market to sustain that type of activity.  The only question is if there will be enough listings to build up the inventory.  Last year’s summertime high was under 700 properties for sale; about a 3 month supply. We will probably have fewer properties than that this year.

Posted in: Market Statistics Tagged: 2017, Inventory, Q1

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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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