How does today’s market compare with the market one year ago?
Currently Dillon, Frisco and Silverthorne have the tightest real estate markets. Highlighted in pink as an Extreme Seller’s Market there is less than 2.4 months of inventory. The orange highlights are still a Seller’s Market, just not as tight with a 2.4-5.4 months supply. Keystone and Breckenridge are currently in a Seller’s Market. That leaves Copper bringing up the rear. Copper is still in a Buyer’s Market with an 8 month supply of properties.
Let’s compare these numbers with 2015 numbers. Only Dillon was in the Extreme Seller’s Market category. Breckenridge was seeing a Balanced Market and Copper was still tagging along behind but with almost 20 months of inventory. The rest of the county was in a Seller’s Market.
Overall the tightest markets are in the lower end price ranges. All the Summit County areas are seeing Extreme Seller’s Markets for properties priced below $200,000. For some markets, like Frisco, that Extreme Seller’s Market is pushing up to the million dollar price range.
Our market is a tighter market than it was last year. We have lower inventory and slightly higher buyer activity. As ski season comes to a close this month we will see more properties come on the market, which is a normal trend. This year, however, I don’t anticipate we will build much inventory heading into the summer months. The majority of the properties coming on the market will be absorbed by the buyer demand. That will continue to keep inventory tight and push prices higher over the summer.