Summit County’s Luxury Real Estate Market is Off the Charts for Performance
Summit County is an eclectic and sought-after market for people from both far-away destinations and nearby Metro Denver. Full of a vibrant culinary scene and adventurous activities, people find a perfect mix of mountain lifestyle while not being too far from the city.
For those looking to buy or sell real estate in the ever-popular Summit County market, it can be difficult to know when the best time is to make a real estate transaction. To help assist in the navigation, LIV Sotheby’s International Realty provides monthly reports with a detailed review of real estate performance.
Summit County’s real estate market is showing tremendous increases in performance, especially when looking at year-to-date compared to the same timeframe of 2018, for the luxury market of $2,000,000 and above. All metrics shown in LIV Sotheby’s International Realty’s Monthly Report show upward trends including an astounding 150% increase in total sales volume and a 110% increase in listings sold, from 10 in 2018 to 21 so far this year. Average price per square foot increased by 28% and the average sold price also increased by 19%. Highest sold price jumped up to a record-breaking $10,100,000, a 181% increase from 2018. Also, average list price increased 118% compared to the month prior this year, landing at an average list price of $7,649,500 in April, from $3,517,000 in March. Including all price points for Summit County, average sold price increased 16% and average list price increased 17%.
During the month of April, LIV Sotheby’s International Realty represented both the buyer and seller of a notable sale – 863 Rodeo Drive. LIV Sotheby’s International Realty brokers Martin Frank and Debbie Nelson represented this $2,435,000 sale, located in Silverthorne.
Understanding the market and the local economy is a critical piece of real estate success for both buyers and sellers. The Monthly Summit County Report provides detailed information to ensure you are up-to-date with local real estate activity and trends. To discuss options further, contact a real estate professional today by visiting resorts.livsothebysrealty.com or calling 970.453.0550.
Visit www.coloradomarketreports.com to view the latest monthly reports.
For more information contact Kelli Williams, director of public relations, at 303.486.3738.
