Summit County Colorado Real Estate

Summit County Real Estate Summary and Outlook

  • 2006 Summit county residential transactions were 2499
  • 2008 First quarter, prices peaked
  • 2009 Residential transactions were just over 900 for the year, less than 40% of the sales volume from three years before.
  • 2010 Prices were approximated 2006 levels but sales were up by 10%
  • 2011 The market may bottom out as sales continue their slow upward trend of 10-12% increases, but prices and interest rates stay at historic lows for a while longer.  Sales will still only be 50% or less of 2006 transactions.

Whether you are looking for a ski condo in Breckenridge, Copper Mountain or Keystone, or a home in Frisco, Silverthorne or Dillon, the time may be right to take the plunge.  2011 pricing is off the peak in 2008 by 25-30%, depending on the area in which you are looking.  While the number of  Summit County foreclosures and bank owned properties are not large, there are deals to be had and Sellers are much more motivated and realistic than they have been in years past.

The picture is much less bleak for Sellers than in other areas of the country where pricing is back at 1999 levels and many homes are selling for less than 50% of the price the owners paid for them just a couple of years ago.  However, Sellers will not get back the money they put into their Summit County home if it was purchased it in 2007 , 2008 or 2009.

Purchasing a home in Summit County is all about the lifestyle.  While it may turn out to be a good investment, the reasons to buy here are family memories, fun and good times!  There simply is nothing else like it.

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