• Facebook
    • Twitter
    • Instagram
    • YouTube
    • Pinterest
          888-666-0844

Mountain Living Real EstateMountain Living Real Estate

Your Source for Summit County Real Estate

  • Search
    • Our Listings
  • buy/sell/rent
    • Buyers
    • Sellers
    • Renters
    • Property Management
  • Communities
    • Breckenridge
    • Copper Mountain
    • Dillon
    • Frisco
    • Keystone
    • Silverthorne
    • Park County
  • Blog
  • About
    • Client Testimonials
    • Contact

A Softer Real Estate Market in 2019?

Is a house covered with snow Soft Real EstateWith three months gone this year, it’s looking like Summit County is going to see a softer real estate market in 2019. In a strong seller’s market like we have been seeing, a little softening isn’t necessarily a bad thing though. The number of residential sales so far this year is declining. That decline is not hindering pricing, however, but it is helping to build our inventory.

Sales Numbers

Residential Sales in Summit County dipped in March. It’s the 2nd month in 2019 that had lagging sales when compared to 2018. With only 85 sales this March, residential sales are down 18.3% vs March of 2018. Having 2 out of 3 months with declining sales, you can probably guess residential sales are down for the first quarter as well. There have been  11.8% fewer sales in Q1 2019 than Q1 2018. And 21.5% fewer sales than Q1 2017.

Average Sale Price

Even with falling sales, the average sale price continues to rise. The average sale price in the last 12 months ending in March was $783,121. That is a 12.1% increase over the same time last year when the average sale price was $698,343. Like with most statistics, average sale price is a number that needs more statistics behind it to know what it means. In March, of the 85 residential sales, 21 were for homes at or above $1,000,000. That’s nearly 25% of the sales. March of 2018 had 18 sales. However those sales were only 17.3% of the total number of sales. Even though the number of sales have fallen, the number of high end sales actually rose. That’s going to increase average sale price every time.

Residential Inventory

Sales are falling, average prices are rising, what is happening with the Summit County inventory? It’s rising too. We currently have 450 residential properties for sale in the entire county. Compare that with 352 about a year ago and we have a 28.4% increase. We do have a lot more new development happening around the county. 30% of our current inventory is new construction.

Often the combination of declining sales and rising inventory will stifle pricing. The Summit County real estate market could handle some flattening pricing. It’s still unclear if that will happen yet this year but the softer real estate market we are seeing makes me think it is coming. The only question is when.

 

Posted in: Market Statistics Tagged: 2019, Average Sale Price, Inventory, Residential

Comments

  1. Joanne hanson says

    May 15, 2019 at 9:03 pm

    Good info! Thanks!

    Reply
  2. Randy Horton says

    April 19, 2019 at 9:43 pm

    Jason, Thanks again for keeping us on your e-mail list. I peruse the Summit County listings almost every day.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Post navigation

« Quick Mortgage Lending Info
2019 Client Party Beachin’ at the Basin »

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

Read More Testimonials

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

Read More Testimonials

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

  • Facebook
  • Twitter
  • Instagram
  • YouTube
  • Pinterest

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

© 2023 · Equity Framework
© 2023 · Mountain Living Real Estate, Inc.
 

Privacy Policy · Sitemap
Listings Sitemap · Log In