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October Real Estate – Change is Here

The number of residential sales in Summit County is down 6.2% vs last year

October real estate numbers for residential properties in Summit County show a slight change in the market. Sales are down and inventory is up. If this continues, prices will level off.

We had 228 sales in the month of October, which is the most sales in any one month all year.  It is typical for October to have the most closings.  Even though it was the best month of 2018, sales are still down. October sales are down 5% vs October 2017 and 6.2% year to date.

Inventory levels are still historically low but we do have more properties on the market than we did this time last year. Inventory is up a whopping 31.2%, or 105 properties that are up for sale.

Even though sales are slower and inventory is growing, the average sale price is up. County wide, on all residential properties, the average sale price is $752,928. That’s a 9.7% increase over the average this time last year of $686,385.

Average time for a property to sell is very similar to last year. Over the last 12 months, 61.4% of properties have gone under contract within the first 30 days of being on the market.  It was 59.9% for the same time period one year earlier.

Cash sales are similar too. 27.8% of the sales are cash compared with 29.7% a year ago.

While we do need inventory to increase, the fact that it is up and sales are down is showing a shift in the market. It’s still early on but it looks like real estate is changing in Summit County.

Posted in: Market Statistics

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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!”

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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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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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