Summit County is approximately 80-90% Built- Out
Summit County Real Estate sales have continued to rise as we approach the end of 2006 with no signs of decline in volume or property value. In the month of September 2006, Summit County Real Estate sales volume was just under $220,000,000 compared to the 2005 sales volume of $161,000,000. The steady rise in property value and sales is attributed to declining land availability in Summit County.
While Summit County consists of approximately 396,245 acres, most of the land is not available for private ownership. The White River National Forest consists of 82.03% of the acreage, while the Bureau of Land Management and the Colorado Division of Wildlife, and private land take up another 18% of Summit County acreage. When the State and Federal governments own approximately 85% of the acres in this county, this leaves about 15% for development.
From this 15% left for development, about three-fourths of it is already built on, leaving on a quarter of the land left. What this means to homeowners and future property owners of Summit County is that our county is built-out, with only 10 – 20% of zoned in county land left for development.
While our prices continue to rise due to the impending build-out, Summit County remains one of the least expensive (per square foot) resort markets in the country. As real estate sales and value are on the decline throughout many parts of the county, the Summit County market is still holding strong with no signs of weakness or decline.
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