Summit County Market Update as of 3/31/06
As the first quarter of 2006 comes to a close, the Summit County Residential Real Estate market looks as promising as ever. With residential real estate sales at 17% of the 2005 total, we are looking good heading into the summer, historically the busiest time for real estate. Most of the activity has come out of Breckenridge, holding 45% of the residential sales, with Keystone behind it at 14%. Silverthorne, Frisco, Dillon, and Copper all hold under 10% of the sales each so far this year. By property type, the statistics are not surprising with Single Family Homes leading sales at 45% and Condos closely behind them, taking 31% of the first quarter market. Townhomes and Duplexes make up 14% and 9%, respectively.
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Breckenridge Residential Real Estate sales are also strong for the first quarter with $62 million, already 16% of last year’s total. The Breckenridge property type statistics compared to the Summit County statistics are similar in that Single Family Homes make up the majority of properties sold at 39%. However, Condo and Townhome sales are more dominant in Breckenridge, coming in at 34% and 18% while Duplexes have only been 8% of the total Residential Real Estate sales. This is not surprising due to the fact that Breckenridge is a predominantly vacation home and rental market compared to other areas in Summit County. This trend should continue to increase over the coming months as more properties come on the market for summer sales.
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Data provided by Summit County MLXCHANGE sold residential data.
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Summit County Build-Out Alert
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