Summit County Real Estate Re-Cap for February 2008
- The Cost Breakdown Residential Improved Units (New Construction and Resales) for Single Family Homes Gross Residential Price Index shows the average price $1,008,065.
- Transactions in February have slowed down in all 5 Resort locations (Garfield, Pitkin, Summit, Routt and Eagle). Summit had a 27% decrease in monetary volume and a 23% decrease in number of transactions. Supply and Demand plays a big hand in the local statistics as well as other economic factors. Although volume and gross sales were down we had the
lowest amount of listings available during the month of February in a few years. January volume was up slightly.
Breckenridge and Keystone were the most active areas in February followed closely by Silverthorne.
- Over all price appreciation appears to be stable and increasing in most areas.
Cost break down for Summit County Colorado
| Home Sale | # of Transactions | Total Dollar Volume | Percentage Gross | Average Sales Price |
| <=200,000 | 14 | $ 2,399,300 | 4% | $ 171,379 |
| 200,001 to 300,000 | 17 | $ 4,513,200 | 8% | $ 265,482 |
| 300,001 to 400,000 | 21 | $ 7,354,700 | 13% | $ 350,224 |
| 400,001 to 500,000 | 16 | $ 7,305,400 | 13% | $ 456,588 |
| 500,001 to 600,000 | 7 | $ 3,845,000 | 7% | $ 549,286 |
| 600,001 to 700,000 | 4 | $ 2,585,000 | 4% | $ 646,250 |
| 700,001 to 800,000 | 6 | $ 4,656,600 | 8% | $ 776,100 |
| 800,001 to 900,000 | 2 | $ 1,720,000 | 3% | $ 860,000 |
| 900,001 to 1,000,000 | 4 | $ 3,803,900 | 7% | $ 950,975 |
| 1,000,001 to 1,500,000 | 10 | $ 11,172,000 | 19% | $ 1,117,200 |
| 1,500,001 to 2,000,000 | 2 | $ 3,480,000 | 6% | $ 1,740,000 |
| 2,000,001 to 2,500,000 | 1 | $ 2,280,000 | 4% | N/A |
| 2,500,001 to 3,000,000 | 1 | $ 2,800,000 | 5% | N/A |
| over $ 3 Million | 0 | $ - | 0% | N/A |
| Total: | 105 | $ 57,915,100 | 100% | $ 551,572 |
| Month to Month Comparison By Monetary Volume |
| Month | 2004 | % Change 04 to 05 | 2005 | % Change 05 to 06 | 2006 | % Change 06 to 07 | 2007 | % Change 07 to 08 | 2008 |
| January | $41,825,900 | 93% | $80,788,900 | 6% | $85,701,700 | -3% | $82,933,400 | 3% | $85,497,600 |
| February | $62,725,300 | 15% | $72,151,200 | 6% | $76,698,900 | 15% | $88,392,000 | -27% | $64,539,900 |
| March | $69,129,000 | 30% | $90,177,800 | 20% | $108,018,500 | -14% | $92,555,500 | ||
| April | $77,378,000 | 22% | $94,438,600 | 17% | $110,949,200 | 21% | $133,878,100 | ||
| May | $88,236,800 | 19% | $104,834,400 | 31% | $137,133,800 | 16% | $158,745,300 | ||
| June | $111,700,400 | 0% | $112,232,799 | 45% | $162,725,600 | -13% | $141,802,500 | ||
| July | $89,310,400 | 37% | $122,040,800 | 0% | $122,097,500 | 13% | $138,251,700 | ||
| August | $102,320,900 | 45% | $148,269,200 | -12% | $130,811,400 | 42% | $186,302,600 | ||
| September | $116,154,100 | 39% | $161,353,500 | 36% | $219,939,000 | -23% | $168,704,900 | ||
| October | $117,417,900 | 30% | $152,693,400 | 24% | $188,770,200 | -22% | $146,546,900 | ||
| November | $116,352,500 | 66% | $193,562,600 | -29% | $138,233,900 | 14% | $156,934,000 | ||
| December | $135,624,700 | 6% | $143,084,300 | 10% | $156,795,100 | -13% | $135,691,900 | ||
| Year-to-Date TOTAL | $1,128,175,900 | 31% | $1,475,627,499 | 11% | $1,637,874,800 | 0% | $1,630,738,800 | N/A | $150,037,500 |
| Month to Date | $104,551,200 | 46% | $152,940,100 | 6% | $162,400,600 | 5% | $171,325,400 | -12% | $150,037,500 |
Month to Month Comparison by Number of Transactions
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| Month | 2004 | % Change 04 to 05 | 2005 | % Change 05 to 06 | 2006 | % Change 06 to 07 | 2007 | % Change 07 to 08 | 2008 |
| January | 118 | 82% | 215 | -11% | 192 | -4% | 185 | -11% | 165 |
| February | 221 | -23% | 171 | 6% | 181 | -8% | 166 | -23% | 128 |
| March | 212 | 24% | 262 | 2% | 266 | -23% | 206 | ||
| April | 240 | 3% | 247 | 12% | 276 | -5% | 261 | ||
| May | 247 | 6% | 263 | 18% | 310 | 5% | 324 | ||
| June | 278 | 10% | 305 | 11% | 340 | -17% | 283 | ||
| July | 229 | 41% | 323 | -3% | 312 | -4% | 301 | ||
| August | 293 | 37% | 400 | -27% | 291 | 24% | 361 | ||
| September | 368 | 21% | 445 | 0% | 444 | -32% | 301 | ||
| October | 371 | 5% | 389 | 3% | 400 | -22% | 311 | ||
| November | 343 | 11% | 381 | -14% | 326 | -14% | 281 | ||
| December | 326 | -9% | 298 | -9% | 271 | -19% | 220 | ||
| Year-to-Date TOTAL | 3,246 | 14% | 3,699 | -2% | 3,609 | -11% | 3,200 | N/A | 293 |
| Month to Date | 339 | 14% | 386 | -3% | 373 | -6% | 351 | -17% | 293 |
| Please note: The above figures do not include time share interests and are an unofficial tabulation of Summit County records that are believed to be reasonably accurate. | |||||||||
Febuary Market Analasis by area
| Area | $ Volume Transactions | % of $ Volume | # of Transactions | % of Transactions | Average $ Transaction Price | Median $ Transaction Price |
| Blue River & South to County Line | $4,508,500 | 7% | 9 | 7% | $500,944 | $269,500 |
| Breckenridge | $12,880,300 | 20% | 26 | 20% | $495,396 | $390,800 |
| Breckenridge Golf Course | $11,154,000 | 17% | 13 | 10% | $858,000 | $522,500 |
| Central Summit County (non-town) | $0 | 0% | 0 | 0% | $0 | $0 |
| Copper Mountain | $3,080,100 | 5% | 9 | 7% | $342,233 | $254,100 |
| Corinthian Hills & Summerwood | $0 | 0% | 0 | 0% | $0 | $0 |
| Dillon Town & Lake | $835,000 | 1% | 3 | 2% | $278,333 | $335,000 |
| Dillon Valley | $743,000 | 1% | 4 | 3% | $185,750 | $185,500 |
| Farmers Corner | $420,000 | 1% | 1 | 1% | $420,000 | data not applicable |
| Frisco | $5,860,000 | 9% | 10 | 8% | $586,000 | $442,000 |
| Heeney | $0 | 0% | 0 | 0% | $0 | $0 |
| Keystone | $11,986,700 | 19% | 25 | 20% | $479,468 | $398,400 |
| Montezuma | $0 | 0% | 0 | 0% | $0 | $0 |
| North Summit County (rural) | $0 | 0% | 0 | 0% | $0 | $0 |
| Peak 7 | $0 | 0% | 0 | 0% | $0 | $0 |
| Silverthorne | $4,939,500 | 8% | 11 | 9% | $449,045 | $425,000 |
| Summit Cove | $2,506,900 | 4% | 5 | 4% | $501,380 | $253,450 |
| Wildernest | $2,920,900 | 5% | 9 | 7% | $324,544 | $254,250 |
| Woodmoor | $2,280,000 | 4% | 1 | 1% | $2,280,000 | data not applicable |
| Quit Claim Deeds | $425,000 | 1% | 2 | 0% | $212,500 | data not applicable |
| TOTAL | $64,539,900 | 100.00% | 128 | 100.00% | $508,848 | $367,800 |
| Note: Average Transaction Price & Median Transaction Price do not include Quit Claim Deed Transactions, REFI's are not included in these figures this month |
Jason & Deanna Long are Summit county real estate brokers with a focus on second, vacation, & investment properties.
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