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Summit County real estate update – Dec 2015

Happy Holidays! Our cute little towns are even cuter with the lights on! At least it takes the sting out of these early sunsets… Dillon’s Festival of Lights is on Dec 18 5:30-7:30 at the Town Park- bonfire, Santa, caroling, hot chocolate… For other events around the county pick up a Summit Daily News or online www.SummitDaily.com and check “today’s top 5 things to do”.

I skied Keystone yesterday and the snow was great! I haven’t been anywhere else yet, but I hear that Keystone has the most terrain open. But Breck reported 9” new last night and the snow is still falling so it looks like every resort will have great conditions over the Christmas holiday. I usually ski Christmas day – yes, there are lots of people in the county, but most of them are doing more traditional things so it’s not crowded.

Are you getting the info on new listings that you want? We have a new MLS program so some of you may have gotten lost in the transition. Let me know if you aren’t getting listing alerts anymore, or if you never have and want to sign up.

Featured Neighborhood: River Run Village in Keystone Why? Walk to the gondola, fish the Snake River, no need for a car, variety of restaurants and shops just downstairs, festivals and concerts, kids activities… These condos all have access to pools, hot tubs and exercise facilities and have under building parking. The dues are on average more reasonable than older properties in the area and are all inclusive. On the downside: The Village has a Transfer Tax of 2% of the purchase price that the buyer pays to the neighborhood association to support the shared facilities and events. And dogs are not allowed. Available Condos (click the MLS#)

Market Update – from Land Title: 3rd quarter Mountain Region reports

  • Market Analysis by Area for October: October was another month with upward trends for real estate transactions in Summit County. There was $156,891,050 in monetary volume and 284 transactions. The average transaction price for all reported 18 areas: $554,381, average residential: $564,532, median residential: $425,000 and average PPSF: $355.
  • Market Analysis by Area YTD 2015 ( 10 months): YTD- monetary volume was $1,121,442,611 with 2056 transactions. Average transaction price: $548,395, average residential price: $548,137 and average PPSF: $345.
  • Market Snapshot for Years 2015 vs.2014: Values are still strong and are as follows: Average Indicators for $: Single Family +9%, Multi- Family +12% and Vacant Land +18%. Median Indicators for $: Single Family +6%, Multi- Family +18% and Vacant Land +10%.
  • Market Analysis % Change showing years 2004-2015 : Monetary volume ($156,891,050) in October is up +21% compared to October 2014. Number of transactions (284) are up 7% in October 2015 compared to October 2014. YTD (10 months) Summit County real estate is up 30% in monetary volume and up 18% with number of transactions compared to YTD 2014.
  • Residential Market Sales by Price Point: Residential volume in October had 253 transactions with $142,826,550 gross volume. There were 24 properties that sold for $1M and above in October. The most active price points were in the $200K-$400K range this month. There were 86 Single family, 167 Multi-family and 10 Vacant land transactions in October.
  • YTD 2015 Average Price History: Average residential pricing continues to increase for 2015- Single Family: $857,481, Multi- Family:$399,825 and Vacant Land: $375,690.

Summit School District outperforms state averages in first year of new assessment

What else would you like to know? Just ask!

Laura Champe Owner, Lake Dillon Realty

970-390-9321 laura@lakedillon.comwww.LakeDillon.com

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