2019 Summit County Colorado Market Recap

Happy New Year! As we enter into 2020, there are currently 444 residential properties for sale in Summit County Colorado. Prices start at $235,000 for a studio in Breckenridge up to $23,000,000 for a ranch north of Silverthorne. Currently, the average list price across the county is $1,465,503 which equates to an average per square foot list price of $607.59. No matter what you are in the market for, Summit County has the diversity to fit any niche, price point and size.

When analyzing the final 2019 numbers we see a stabilizing real estate market for Summit County Colorado. There were a total of 1,980 sales county-wide which is down 122 sales or 6% from last year. While total sales were down, volume ticked up from $1.498B in 2018 to $1.536B in 2019 or a 3% increase in total sales volume. This is further evidenced by the increase in the average sales price across the county. In 2018 the average sales price in Summit County was $708,961 across all types of residential property (including Deed Restricted Property). In 2019, the average sales price increased 9% to 776,930.

From a macroeconomic standpoint, leading economic indicators remain strong. The Dow, Nasdaq, and the S&P are all at record levels posting strong earnings. Unemployment is at 3.5% and housing starts for November are at 1,365,000 up from 1,256,000 in September. While there are geopolitical headwinds, optimism remains strong due to earnings and the potential for a trade deal in the coming weeks.

If you are considering purchasing a property in Summit County, Colorado let Brett Rudolph and Krystal Knott with Christie’s International Real Estate assist you in your search. We pride ourselves in putting you and your property search first and will always provide you exceptional service at any price point. Give us a call today at 970.462.1416 or email us at info@resideinsummit.com. We look forward to finding you and your family your ideal Colorado mountain property.

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