While most of you are in full swing for 2018, I still want to wish you a Happy New Year and give you my 2017 end of year real estate update for Summit County.
Amy's 2017 Year in Review Real Estate Newsletter!
For a quick synopsis, here is what you need to know if you are a Buyer or a Seller:
For Buyers: Our market is split. For properties under $750K to $1m, inventory is tight and prices are climbing. Days on market for properties over $750K are 129 whereas days on market for properties under $750K is 44. Prices have climbed an average of 15% from last year on all properties. If you have been waiting for the right time to purchase, get serious now about obtaining financing and start to shop. Prices will continue to climb as Denver's robust economy feeds the Summit County market. The market is especially tight under $500K, and almost non-existent under $300K.
For Sellers: With record low inventory, putting your property on the market now, especially during the high rental season, will provide you with little competition from other listings. If you have a property under $500K, expect a fast turnaround time provided you are within market pricing. If you wait until spring, you will be in the crowd of new listings coming on the market.
If you would like to subscribe to my quarterly newsletter, please CLICK HERE!
No comments:
Post a Comment