There are only a few short weeks left of 2019. As we prepare to head into a new decade, the real estate market in one of Colorado’s more desirable locations, Summit County, is remaining stable and performing positively.
Each month, LIV Sotheby’s International Realty (LIV SIR) analyzes the various Colorado markets by looking at performance comparing 2018 to 2019 statistics year-to-date and the last 12 months – year over year. The purpose of these reports is to assist home buyers and sellers by keeping them informed with the latest performance updates on local real estate trends. With this valuable information, consumers can make more informed financial decisions.
In Summit County, total year-to-date sales volume through the month of November increased by 3% even though the number of homes sold dipped slightly by 5%, compared to the same period of time from last year. The 8% rise in both average list price and the average sold price may indicate that although a smaller number of homes were sold, those that sold were valued higher. The average listing price for a home in Summit County is currently $849,252, up from $784,848 from January through November of 2018. The average sold price of homes in this area is now $825,773.
Summit County’s luxury home market, defined as any home priced at $2,000,000 or above, is also having a very strong finish to 2019. This mountain community saw positive numbers across most metrics measured. The 10% increase in luxury homes sold, January through November of this year compared to the same time period in 2018, likely contributed to the elevated total sales volume (+32%) in Summit County. The average list price for the luxury market also grew by a notable 20%, making the current average price for homes in this area $3,330,115, up from $2,783,549 in 2018. The average sold price for these homes has risen as well. From the beginning of the year through November, the average sold price of a luxury home in Summit County increased by 20%, which raised the average sold price to $3,177,490.
November clearly was an active month for luxury real estate in Summit County with an astounding 282% increase in total sales volume, due to a 267% increase in the number of listings sold, from the previous month of October. The number of listings sold increased from three listings in October of 2019 to 11 listings in November of this year. In addition, the total sales volume for the month of November this year showed a 35% increase compared to the month of November for 2018.
The recent sale of 260 Gold Flake Court, listed by LIV SIR broker, Jack Wolfe, was among one of the highest sales in the area last month. This beautiful Breckenridge home sold for $4,000,000 in November. The home features six en-suite bedrooms and a stunning outdoor living area where its residents can enjoy the fresh mountain air.
Contact LIV Sotheby’s International Realty today to learn how we can assist you in achieving your real estate goals by calling 970.453.0550 or visiting resorts.livsothebysrealty.com. To view the monthly reports produced by LIV Sotheby’s International Realty, visit coloradomarketreports.com.