April 2008 Summit County Colorado Real Estate Highlights

• Summit County Colorado's average real estate prices continue to increase. The April Gross Residential Price Index indicates that Multi-Family average price ($456,267) is higher than 2007 ($406,529) and 2006 ($333,501).  Vacant Land is also much higher with the average price at $491,940 vs. 2007 ($391,587) and 2006 ($311,951).  Single Family Average price this month ($838,026) is also higher than the entire year 2007 ($798,889) and 2006 ($737,253).

• As of April 2008, YTD, there were 56 Residential Improved Units that sold for $1M and over, last April 2007 YTD, there were only 44.

• The month of April 2008 does reflect a 30% decrease from the month of April 2007 in monetary volume. The month of April 2008 indicates a 38% decrease in number of transactions compared to the month of April 2007. However, month to date (4 months of 2008) monetary volume shows a 15% decrease (4 months in 2007). We are showing a 24% decrease (4 months to date) in 2008 with number of transactions in 2007 (4 months to date in 2007).

• There were 621 loans in April, with 348 of the loans being REFI's.  25% of the Real Estate Closings in March were cash transactions.

• The April Market Analysis by Area shows that Blue River & South of County line ($648,750) and Silverthorne ($725,000) had the highest Median Residential Prices for the month of April.

As you can see the Summit County resort market is still performing well. Based on what Deanna and I have seen in peoples intrest in purchasing real estate in May we should see contiued demand. Luxury homes and value condos contiue to perform well. All in all Summit County, and the cities of Breckenridge, Keystone, Frisco, Silverthorne, & Dillon contiue to outperform the national market being one of the best investments in the nation.

Jason & Deanna Long are Resort Real Estate brokers in the Rocky Mountains of Colorado with a focus on Second, Vaction, and investment properties.

Summit County CO MLS