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Summer Real Estate Sales Explode!

Home sales explodeAs Coronavirus spread across the country and the world, we were all hunkered down in our homes wondering what would happen. At that time, I didn’t anticipate the summer real estate sales to explode like they did. I don’t think many people did. However, as we cautiously made our way into and out of the summer selling season, we saw sales climb higher each month and inventory dwindle. Summit County summer real estate sales exploded!

If we look back at Summit County residential sales through the pandemic we see sales rise from about half the number of sales the previous year to nearly double. April and May sales took a big hit. April sales were mainly those properties that went under contract pre-pandemic and, therefore, sales were down 53% from 2019. May sales were slower yet falling to 41% of the previous year. As businesses opened up more and more, people were back in town and buying real estate. June sales managed to equal those of 2019. July & August were both up about 32% over 2019. September climbed to a whopping 75% higher than September 2019. October kept the trend going with 79% more sales. The increases made up for the initial lag and through October, Summit County residential sales are up 18% over the same period in 2019.  That’s amazing!

Sales could probably be even higher but there aren’t a lot of residential properties for sale. Buyers are still trying to buy, however. Many properties are getting multiple offers and going under contract quickly. If your property type is in short supply, putting it up for sale can create a frenzy, possibly generating multiple offers with some substantially higher than list price.

There are many theories as to why real estate sales have been so strong this year. Perhaps people got tired of their homes during lock down and wanted a second home. Having a variety of outdoor activities nearby became more important with theaters and other events cancelled. Being able to work from home made spending more time in Summit County a real possibility.  Low interest rates made mortgages more appealing and savings accounts less appealing. No matter the reasons, summer real estate sales exploded in Summit County.

We will have to wait and see what happens as we go into winter. Real estate sales generally slow down for the holidays. Winter does not see the same level of real estate activity as the summer. I am anticipating a good, but different, ski season and looking forward to some great powder days on the slopes!

Posted in: Market Statistics Tagged: 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

View from Silverthorne

Professionally executed from start to finish

William from TX Mountain Living Real Estate November 25, 2020

Honest and realistic about pricing and negotiating. On the clients side for negotiations. Willing to go extra mile for anything we needed since we were out of state.

Kristin from VA Mountain Living Real Estate October 6, 2020

Thank you Jason and Meridith for all you did . We were very impressed from the start to the finish . Jason was very timely with his responses to any questions or concerns we had . His very calm and professional demeanor was most reassuring. The photos that Meridith took were professional grade . All Continue Reading

John from Idaho Springs, CO Mountain Living Real Estate October 2, 2020

Jason and Meredith exemplify what real estate agents should be.  We purchased two homes and sold one with them.  The attention to detail was outstanding.  It is rare in today’s world to find such a high level of customer service.   Jason and Meredith handle everything and go way above and beyond what other agents would do.  The online tools, calendar Continue Reading

Wendy from Pine, CO Mountain Living Real Estate September 14, 2020

La Riva del Lago

Thank you for going above and beyond to sell and help me close! You have been a great resource for us. We so appreciate it!

Sheila from KS Mountain Living Real Estate September 10, 2020

Most impressed with timeliness and response – working with us late in the evening. It was a pleasure. Appreciate the opportunity to work with you.

Kevin from Highlands Ranch Mountain Living Real Estate September 4, 2020

You did a wonderful job. You went up to the condo several times. Not only did you take pictures, but you set up the dining table, etc. for better showing. You came in for inspection follow up, etc. All much appreciated!! All the extra special touches and great communication from listing to closing meant a Continue Reading

Pat from Broomfield, CO Mountain Living Real Estate July 11, 2020

You went above and beyond our expectations to check out the Wetterhorn unit! You know what we like and saw the opportunity for us to purchase a unit we will enjoy!

Linda from Texas Mountain Living Real Estate June 30, 2020

Buffalo Ridge Condo

We were most impressed with the willingness to get the job done under difficult situations.

John from Manitou Springs, CO Mountain Living Real Estate April 13, 2020

January Sales get a Thumbs Up

Good communication and quick response. Knowledge of area and market. Pleasant attitude through it all.

Stacey from Texas Mountain Living Real Estate March 1, 2020

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Jason & Meredith Adams
Mountain Living Real Estate

101 Main St, #109, PO Box 4115 Frisco, CO 80443

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