The real estate market may be cooling off nationally. The Denver Metro area may still be flat. But, none of that has affected sales in Summit County, Colorado. Our sales are hot, our inventory is down, and prices are climbing. Difficult to control. Everyone wants a piece of this affluence. Even deed-restricted homes designed for locals have reached over $230,000 for those who qualify at median income or less.
Look at some statistics. Sales volume just for June this year were up more than 45 percent over the June of 2005. Incredible! But, the number of transactions were up only 11 percent. So, more high end homes are being sold, and the price of similar homes has climbed. The top three communities in sales were Breckenridge, Keystone and Silverthorne, a bit of a surprise, since Silverthorne is normally last in stats in this County.
W elcome to the housing drought!