Tuesday, July 1, 2008

Summit County Statistics - January to June 2008

In this edition of Amy's number crunching, I will break down residential real estate trends by community. The data below reflects sales from January through June for years 2005 through 2008. While sales activity has slowed in the first half of 2007 to 2008, most Summit County's properties continue to see increased appreciation from year to year.

BRECKENRIDGE
Average sales prices in January to June increased each year from 2005 to 2008. 2005 to 2006 saw an increase in average sales price of 16.5%, 2006 to 2007 an increase of 16% and 2007 to 2008 an increase of 9.5%. The number of sold transactions are down from 2007 to 2008 by 34% and total sales volume is down by 28%.

COPPER MOUNTAIN
Copper Mountain's average sale price from January to June jumped from 2006 to 2007 by 22%! The previous year the average price increased 14.9%. 2007 to 2008 saw a much more modest increase in average sold price of .5%. Both number of transactions and total sales volume are down 50% from January through June, 2007 to 2008.

DILLON/SUMMIT COVE
The Dillon area, including Summit Cove, saw steady appreciation in average sales price from January to June, 2005 to 2006 at 10% and the following year at 11%. 2007 to 2008 saw a more modest increase of average sales price at 2%. Both number of transactions and total sales volume are down 50% from January through June, 2007 to 2008.

FRISCO
Frisco saw large jumps in appreciation in average sales price from 2005 to 2007. From January through June, 2005 to 2006 the average sales price increased by 17.2%, and 16.2% from 2006 to 2007. The first half of this year saw a decrease of average sales price by 10.5%. From my experience and observations, the decrease in average sales price is not indicating depreciation in Frisco, but rather showing that more of the lower priced properties are selling and those in the higher priced brackets are not selling as quickly. Number of transactions is down from 2007 to 2008 by 37% and total sales volume is down by 43.6%.

KEYSTONE
Keystone properties saw an increase in average sales price from January through June 2006 to 2007 of 28.8%! Heather Wood, the Keystone expert in my office, attributes this increase to low inventory levels at Keystone during 2007. 2007 to 2008 saw an increase of 9%. Keystone residential properties experienced a decrease of 37% in number of transactions and a decrease of 30% in total sales volume.

SILVERTHORNE/WILDERNEST
Silverthorne and Wildernest have great appreciation in average sales price. The first half of 2006 from the first half of 2005 saw an increase of 16.2% in average sales price. The following year saw an increase of 21.6% and 2007 to 2008 saw an increase of 14.6%. Number of transactions from the first half of 2007 to 2008 are down only 19% and total sales volume is down 50%, again indicating that lower price properties continue to sell.

At Landmark Real Estate Group, LLC, we maintain this data in Excel spreadsheets. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you.
Authored by Amy Nakos, JD, CLHMS, Owner/Managing Broker, Landmark Real Estate Group, LLC, 111 Main Street, Frisco, CO 80443, 970-668-1430 office, 970-389-8388 cell, anakos@landmarkregroup.com.
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