Local Market Statistics for August 2017

This summer has shown increased demand for condos and townhomes, creating a strong seller’s market; and a slight decrease in demand for single family homes, causing prices to drop and inventory to remain on the market for a bit longer.

 

According to the Land Title Guarantee Company, Summit County buyers were primarily from the Front Range at 39% of our market, 31% are “local” and 30% are out of state buyers for the month of July.

 

Comparing July 2017 to July 2016, sales volume is up 41% and total transactions are up 18%. Year to date (through the end of July), monetary volume is up 27% and transactions are up 11%.

 

Below, we summarize the market conditions for the Keystone area provided by the Title Company of the Rockies.

 

Single Family

Averages as of Aug. 25th.

                                                    Keystone/Dillon     Silverthorne/Wildernest

Median Price                                        $1,379,000                  $1,100,000
Average List Price per Sq. Ft.              $329                             $366
Average Days on Market                     186                                98

 

Condos/Townhomes

Averages as of Aug. 25th.

                                                     Keystone/Dillon     Silverthorne/Wildernest

Median Price                                         $574,950                     $588,000
Average List Price per Sq. Ft.               $430                            $359
Average Days on Market                       79                                39

 

For more information on the local market, feel free to reach out. Whether you’re looking to buy or sell a home in the area, we’d love to go over the information and help answer your questions. Email Michael or call (970) 470-3001.