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My mission at the Smits Team Real Estate is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, I can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

The Latest Real Estate Trends in East Vail & Summit County

Homes are still selling quickly in East Vail and Summit County, but there are a few changes in the market. We have your full market update today.

Call me at (970) 418-0183 for a FREE home buying or selling consultation

What’s happening in the East Vail and Summit County real estate market? 

Properties coming on the market right now have come down a bit in price. Yesterday, there were 31 price reductions. Buyers are ready to buy, but properties need to be priced correctly in order to sell.

That said, homes priced under $500,000 tend to sell in less than a week. Homes between $500,000 and $1 million are selling in under two months. However, homes over $1 million are selling slower, since that is where we have the majority of our inventory. There are also fewer buyers in that price range. 

Homes priced under $500,000 are selling in less than a week!

If you are thinking of buying or selling a home, reach out to us and make sure that we have your housing criteria set up correctly. Homes are selling quickly, and it’s important that we match your motivation to our motivation. If you want to buy quickly, for example, we want to be able to get in touch with you as soon as possible. If you don’t want to buy for another year or so, we want to check in with you every couple months to touch base. 

We also have a couple of exciting new properties that will be on the market. There are two brand-new duplexes that will come on the East Vail market in the next couple of weeks at $2 million. If you are interested, let someone on our team know and we will send you as much information as we can, including 3-D tours. 

We also have a couple of condos in the $350,000 price range. Those will sell quickly, so get in touch with us soon if you are interested. 

As always, if you have any other real estate questions, just give me a call or send me an email. I would be happy to help you!

The Fire Is Over in Summit County

Thank goodness the recent wildfire has been put out. Now things are getting back to normal in Summit County real estate.

Call me at (970) 418-0183 for a FREE home buying or selling consultation

Thank goodness that the winds have shifted and we are finally getting some rain in Summit County. The fire last week was frightening. Anytime you see flames in the mountains, it’s pretty scary. 

Although parts of Breckenridge were evacuated, everyone is back home safe now and the fire is out. We were lucky that the winds shifted and the rains came. Thanks to everyone who had a hand in helping control and put out that nasty fire.

The wind has shifted.

As far as the real estate market is concerned, our inventory is finally starting to pick up. The average days on market remains extremely low. If you’re looking to buy a home up here, give us a call, text, or email now so we can start aggressively searching for a home for you. Even if you’re out of town, we can FaceTime or Skype you in to take a look at any homes. There are quite a few that have recently come on the market. 

If you have any questions for us, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you soon.

What's Been Happening Here in the Summit County Market?

What's going on in the Summit County market? I've got an update for you today covering the whole first half of 2017.

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Call me at (970) 418-0183 for a FREE home buying or selling consultation

It's hard to believe that we're heading into summer, which means the first half of the year in real estate activity is already behind us. So what's been going on in the Summit County market?

Just like the last few months, inventory has been low, demand has been high, and we see that continuing. However, we've seen an uptick in listings. For example, in Frisco our average for the last three months has been 13, and now we're at about 15, and we're seeing that across the county. That's great news for homebuyers.

The average sales price over the last six months was $725,000, which is up from this time last year. The average number of days a listing spends on the market has fallen too. The median days on market for homes priced under $400,000 is about seven, and as you go up in price, it also increases, but only by a day.

For the first half of the year, the overall average days on market was 52. We're seeing that go up just in the last month to about 65. I think we're seeing sellers coming on higher and higher with list prices and buyers are resisting a little bit. Basically, buyers are looking to buy, but they aren't willing to overpay.

Sale prices and the number of new listings are both up.

The other price range that has been interesting to me is $2.6 million to $2.8 million where the average days on market was just three. When people see houses they like, they're buying them quickly. 

Here are the market reports for these areas:

If you have any questions about a specific area or you're thinking of buying or selling a home in our market, give me a call or send me an email soon. I'd love to hear from you!

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