Summit County Shows Market Strength Over the Last 12 Months

Vail Valley’s Real Estate Market Showed Steady Growth Through February
March 20, 2020
Welcome Michael Smith to the LIV SIR Team
March 25, 2020

During these unprecedented times, LIV Sotheby’s International Realty (LIV SIR) understands that clients will continue to buy and sell real estate for many reasons. LIV SIR is open for business and leveraging technology to continue to fully operate through a remote work plan designed to ensure that clients are fully supported.

According to the monthly market report compiled by LIV SIR, over the last 12 months, year-over-year, Summit County experienced a 5% increase in total sales volume. Analyzing the same time frame, the average list price and the average sold price rose by 7% and 6% respectively. The average list price for homes in Summit County from March of 2019 through February of this year was $850,422 and the average sold price through the same month was $826,014.

Summit County’s luxury real estate market, which is defined as homes priced at two million dollars or more, also saw some positive trends over the last twelve months. Total sales volume for luxury homes grew by 8% from March of 2019 through February of 2020, compared to the same time period the year prior. The average sold price for homes within Summit County increased by an impressive 18% over the last twelve months, year-over-year. This drastic increase is likely due to a $10,100,000 sale in the area that influenced the overall average.

Last month, the market yielded success for those looking to sell their mountain homes and for others hoping to find their perfect resort property. One of the most significant sales that occurred during the month of February was the sale of 33 Iron Mask Road. This incredible estate was listed by LIV SIR broker, Bo Palazola and sold for a notable $4,600,000. Mountain aesthetics meet modern amenities in this slope-side house. Set on nearly one and half acres, the interior of the home is accented with rich wood beams, carefully crafted stonework, and oversized windows offering mountain views. There is plenty of room to make memories with family and friends in this five-bedroom chalet. What’s more, private gondola access is just one of the many perks this home offers, others amenities include a wine room, an in-ground spa, a bonus space, and a home theater.

Over the past year, Summit County’s real estate market has created plenty of opportunities for buyers and sellers to achieve their real estate and lifestyle goals. While some uncertainties lie ahead, Summit County’s historic market stability and resilience encourage future success for the resort community.

For more information, or for assistance with any of your real estate needs, call 970.453.0550 or visit resorts.livsothebysrealty.com. To view the monthly reports produced by LIV Sotheby’s International Realty, visit coloradomarketreports.com.

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