2023 is off to a great start! Skiing and snowboarding have been spectacular. Colorado snowpack is high and some of the best snow in years.
We now have the full 2022 stats from Land Title. The average residential price ended up at $1,326,089, which was an 18.6% increase over 2021 at $1,117,682. Prices started out very strong in the beginning of the year and mellowed out toward the end, although the average residential price in December was still higher than 2021’s average at $1,246,491.
The number of transactions dropped dramatically; the low inventory has kept the market balanced. We have seen the average prices decline slightly through the last six months; however, we are also seeing multiple offer situations and some listings selling for over list price. There are some complexes and neighborhoods that have not had a property hit the market in over a year.
If you are looking to buy or sell a property in Summit County, I am here to help you navigate the process and reach your goals. If you like numbers or just want to know what’s going on in the mountains, email me to sign up for my monthly newsletter. Every buyer, seller, and property are unique so let me know how I can help.
