Total Sales - Week of January 7, 2012
Welcome to the New Year! 2011 ended with 1288 total sales in Summit County, an increase of 8.6% over 2010. At this rate, sales will reach the 20 year average again in about 2016.
Average sale price for existing properties fell by 2.7%, a major improvement over 2010’s decline of over 14%. For perspective, the 2010 drop was the largest in over 30 years. Summit resale prices have declined by about 17% since the peak in 2009.
Moreover, at 1660, the inventory of properties for sale is at the lowest point since 2007.
Overall, it was a year of slow recovery from the worst economic disaster since the Great Depression and for all that Summit County has been relatively unscathed.

Real Estate Fact of the Week

$288... avg. sale price per square foot for existing residences in 2011
$308... avg. sale price per sq. foot in 2010

Summit County Real Estate at a Glance

Total 2011 Single Family Home Sales - week of January 21, 2012
Weak 4th Qtr. sales brought 2011 single family homes to year end with 22% more sold at an average 10.7% less than in 2010. Even so, there were two months with higher sales than the average since 2003. High-end homes sold better in the first half of the year than the second half.
The Summit County inventory remains at 5 year lows with about 1670 properties offered for sale.

Real Estate Fact of the Week

85... Number of homes sold for $1 million or more in 2011
$3,275,000... highest priced home sold in 2011 - Shock Hill in Breckenridge

Summit County Real Estate at a Glance

Total 2011 Condominium Sales - week of January 28, 2012
2011 condominium sales came to an end with 10.5% more sold at an average 3.9% less than in 2010. Prices are close to stability at this point and sales are slowly recovering to the 10 year average number. When the normal number begins selling again in the second half of the year, the market will be in good condition. The Summit County inventory remains low with under 1700 properties offered for sale.

Real Estate Fact of the Week

11... Number of condominiums sold for $1 million or more in 2011
$2,685,000... highest priced condominium sold in 2011 - One Ski Hill Place in Breckenridge

Summit County Real Estate at a Glance

Total 2011 Land Sales - week of February 4, 2012
There were even fewer land sales in Summit County in 2011 than in 2010 and land prices averaged 15% lower as well. A grand total of 81 lots sold for an average $247,100. For an area that has almost no vacant land left it is astounding that investors aren’t taking advantage of prices at levels last seen in 2004.
The Summit County inventory remains at fewer than 1700 properties offered for sale. 348 of these are vacant land.

Real Estate Fact of the Week

3... Number of lots sold for $1 million or more in 2011
$1.575 million... highest priced lot sold in 2011 - Shock Hill in Breckenridge