Take a look at the Summit County CO Real Estate Market Report for September 2012. As mentioned in previous market reports, prices are down and sales are up leading to the conclusion that the Summit County CO Real Estate market is on the rebound.
At the height of the Summit County CO Real Estate market the average sold price per square foot was $384 in 2008 and $372 in 2010. As of September 2012, the average sold price per square foot is $288, down -25% from the height in 2008 and down -5% from 2011, $303 per square foot.
Summit County CO Real Estate sales are trending upward as prices have fallen. The number of completed residential transactions or sales in all of Summit County is up +16.5% over the 619 sales in 2011. This is also a +39% increase over our lowest number of sales in 2009 with 449 transactions.
While it is nearly impossible to predict when the bottom is going to occur in a real estate market, most Buyers we have interacted with lately think it is near the bottom or the bottom has already hit. Our opinion is that the Summit County CO Real Estate market is on the verge of moving upwards again soon. There are less bank owned properties and motivated sellers which could start driving prices upward. Don’t miss out on the opportunity to purchase a property in Summit County Colorado at some of the lowest prices in recent years.
To discuss your individual property search and the Summit County CO Real Estate market contact Justin and Krystal Knott with Ten Peaks Sotheby’s International Realty.