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Summit County Real Estate Market Continues On

Summit County Market StatsIt’s been almost a week since the ski areas in Colorado were ordered closed by the Governor. That was Sunday. Since then, restaurants were restricted to take out or delivery only.  Most Summit County businesses that have foot traffic were ordered to close. Hotels and short term rental properties were ordered to be vacated by their occupants. All public transportation options have shut down. Life as we know it in our touristy, mountain towns has come to a halt. And right in the middle of our Spring Break rush. That’s going to leave a mark.

Summit County Real Estate

Much to my surprise, real estate seems to keep plugging along. As expected, some properties are being pulled off the market, others, that were under contract, are falling apart and are back on the market. However, there have been a lot of new listings and several properties going under contract every day. There are some buyers still buying and sellers still selling.

New Listings

In the last seven days there have been 43 new listings in Summit County. These new listings were probably already in the works or previously planned by the owners. We will see if this type of activity continues in the upcoming weeks. Granted, ski season is pretty much over and that is when we usually see properties start to come on the market for our summer selling season. That may keep the new listings coming in.

Under Contract Properties

29 properties have gone under contract in the past 7 days. This statistic is surprising to me. People are not travelling. They are being urged to stay out of Summit County and other mountain towns. Yet, we are still seeing under contract properties. What’s even more odd, is 11 of the 29 properties that went under contract have been on the market for 28 days or longer. They weren’t new properties that buyers were waiting for. Regardless of the why they are buying, the fact is, they are buying. Properties continue to go under contract.

Reductions, Withdrawns and More

Some sellers realize the Coronavirus may stall the real estate market and have decided to reduce their price. We have seen 24 price reductions in the last 7 days. 17 sellers have decided to wait to sell and have taken their property off the market. 14 others have had their buyers back out of the sale and have had to put their property back on the market. These numbers are definitely higher than normal.

We are in unknown territory. Never have we seen daily life impacted in this way. Even so, the Summit County real estate market continues on. The longer the Coronavirus impacts our daily life like this, the more likely it is for the real estate market to be put on hold as well. I am hopeful that this lag time will mean pent up demand when things get back to normal and the Summit County real estate market will hit the ground running.

In the meantime, wash your hands and stay safe.

Posted in: Market Statistics Tagged: Coronavirus

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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

Jason used amazing strategy for pricing, selling and acquisition of our next property. In this market this strategy is critical for success – especially with the buying process. Summit County real estate is a challenging market. We have bought and sold two properties and just bought our third. Jason and Meredith have been there for Continue Reading

Ben from Centennial February 2, 2022

You were very knowledgeable and supportive during this transaction. I was most impressed with your calmness and smart decision making during a chaotic process. Thank you again for your calmness during all of this.

Barbara from Centennial January 24, 2022

home in Breckenridge

We were very impressed with your professional skills, timely communication, and excellent listening skills. We felt you cared about us and our success.

Frederick from Colorado January 24, 2022

Living room in Dillon condo

(I was most impressed that they) Kept us informed through it all and helped navigate the things that needed to get down in a timely fashion. Also really appreciated help getting people to do some of the things done around the house.

Kate from Ft Collins November 4, 2021

House in Hamilton Creek

You guys did an exceptional job for us and went the “second mile” in many ways. We were most impressed with Pro-active and involved interaction with us and everyone in the process. Your team was exceptional. Recommended many things for us to do, and then helped us do them. Followed up,, checked in, and helped Continue Reading

Warren & Sue from TX August 12, 2021

Treehouse condo

Over the years we have bought and sold over 30 pieces of property and this was one of the most efficient and painless processes. Service and attention was A-perfect!

Jack from FL August 9, 2021

Gateway condo in Keystone

I very much enjoyed working with both Meredith and Jason, they really focused on our needs and questions. Their knowledge of the Summit County Area was worth its weight in Gold. Thank you guys!

Glen from GA July 27, 2021

sale of house

We were most impressed with your good judgement and advice on everything. Thank you for navigating us through the sale of our house.

David & Cecile from Boulder July 14, 2021

Copper Mountain Ski Resort

Great service- more forward leaning than previous realtors Most impressed with follow up, knowledge of local market, going the extra mile on document review and getting HOA questions answered. Good advice on price point, patience, and negotiations. Understandably you aren’t always available to look at properties, but in the crazy COIVD market there was one Continue Reading

Holly from Colorado Springs June 14, 2021

Most impressed with the dedication to getting the best deal for us! Exceptional service, skilled negotiators, truly worthy! I wouldn’t consider hiring anyone else. Thank you Meredith and Jason.

Lloyd from Salida June 4, 2021

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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