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