Summit County Real Estate Market Update
3rd Quarter 2005-2011 Comparison
The Summit County Real Estate Market is on a rebound this year. As of the end of September and the end of the 3rd Quarter the number of properties sold has increased 14% over 2010 sales and a 30% increase over 2009 sales. While we are not back to levels seen before the market went down October 2008 we are showing signs of movement in the Summit County Real Estate Market.
As a Buyer looking to purchase a property in Summit County Colorado you are probably wondering if now is the right time to purchase? According to local data obtained through the Summit County MLS the average sold price per square foot is down 17% from 2010 sales by the 3rd Quarter. Overall, our average sales price per square foot in Summit County CO Real Estate is coming in between the sold data of 2005 and 2006. This means you can purchase your mountain property in Summit County Colorado for prices from 5-6 years ago. How long this great opportunity will last is unsure.
Currently transactions have increased in our market, the average sold price per square foot is low and back to 2005/2006 pricing and our volume is low compared to the height of the Summit County Real Estate Market. If there has ever been a great time to buy a property in Summit County Colorado it would appear based on the statistics now would be that time.
No one can predict the exact bottom of the Summit County Real Estate Market. While it appears that bottom may be occurring right now or recently passed it will not be known for several months the true bottom. Don't let this opportunity pass you by, Contact Krystal Knott with Ten Peaks Sotheby's International Realty to discuss your Summit County Colorado purchase.
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