Summit County Finished 2019 with Favorable Real Estate Market Conditions

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January 17, 2020
Vail Valley Real Estate Market Remains Active According to LIV Sotheby’s International Realty
January 17, 2020

Summit County, which includes the cities of Breckenridge, Keystone, Copper Mountain, Dillon, Frisco, Montezuma, Silverthorne, Henney, and Blue River, wrapped up 2019 with a healthy real estate market. The latest statistics from the monthly market reports provided by LIV Sotheby’s International Realty (LIV SIR) illustrate the stability of the housing market in the mountain towns within Summit County.

Throughout Summit County, the year-end sales volume totaled $1.48 billion, a 5% jump from when the sales volume was $1.4 billion in 2018. The average list price and the average sold price for homes in this region both increased over the last year by 7%, making the average list price for 2019 $847,767 and the average sold price for 2019 $824,194 for homes in Summit County. Furthermore, the average time a listing in Summit County will spend on the market has extended from 51 days to 58 days, a 14% increase, allowing buyers a bit more time to make home buying decisions.

The luxury market of this mountain community also demonstrated its strength throughout 2019. In a year-over-year comparison, the total year-end sales volume for homes priced at $2,000,000 or more saw a 26% rise. The total sales volume for 2019 in Summit County was $265,629,197. The number of listing sold within this segment of the market increased by 6% compared to 2018. Additionally, average list price and average sold price grew by 18% and 19% respectively.

LIV SIR broker, Jack Wolfe, had the pleasure of listing and selling Summit County’s highest-priced home last month. 417 Gold Run Road, a beautiful custom home on a hillside next to Breckenridge Golf Course in Breckenridge, Colorado, sold for $3,285,000 in December.

Another distinguished sale within Summit County was the $1,750,000 sale of 0603 CR 2407, which was listed by LIV SIR broker, Krystal Knott. This estate is a gorgeous log home set on 20 acres with access to the Blue River. The home comes with desirable amenities that include outdoor space with a private hot tub, a built-in barbecue grill, a fire pit, and a separate dog yard.

Each month, LIV SIR analyzes the various Colorado markets by looking at performance comparing 2019 to 2018 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.

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.

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