January kicked off with a bang! Don’t let the average sales price by home type alarm you; one month of data doesn’t tell the full story. It’s more important to watch trends as the year unfolds.
While January is typically slower in Summit County, we saw a 56% jump in monetary volume and 36% more transactions compared to January of last year.
We’re seeing inventory levels rise as more sellers prepare for the spring market. With increased options, buyers have more choices, but desirable properties still get attention fast. If you’re considering selling, now is the time to prep your home before competition increases.
Homes are selling in an average of 61 days, but median of 31 which is longer than we’ve seen in the past couple of years. However, well-priced properties in sought-after areas are still moving very quickly. This means sellers need to be strategic with pricing and presentation, while buyers may have more negotiation power, especially on properties sitting longer.
What does this mean? Serious buyers are in the market despite the winter season. Plus, post-election certainty is helping more people feel confident in making real estate decisions. With February inventory rising and interest rates dipping into the mid-6s, the spring market could take off earlier than usual this year.
January 2024 Statistics:
There were 102 Transactions and $137,366,389 in monetary volume in January 2025. Monetary volume from January 2024 to January 2025 is up 56%. Transactions are also up 36% from January 2024.
Average Sales Price:
As of January 2025, Single-Family Home sales prices have decrease by 13%. Multi-Family Homes have increased 11%, and Vacant Land has decreased by 32%.
|
|
|
|
|
Loan Breakdown:
There were 238 loans in January 2024, 54 related to sales 62 related to REFIs and 122 loans were time-share related. The percent of cash transaction for December was 47%.
Foreclosures: There were 4 Foreclosure actions filled in January, 1 of those are timeshares.
Demographics: YTD 2025, Front Range buyers are 38% (38) of our market, 27% (27) are ‘locals’ and 36% (37) are out-of-state buyers. 0% (0) of buyers are international.
Real Estate Inventory Report:
As of February 28, there were 436 active residential listings in Summit County and 79 active land listings. There were 332 pending sales in the County. 44 homes went pending in the last 2 weeks of February.
*Data is pulled through the Summit MLS and Land Title Guarantee’s monthly report. Information is deemed reliable but not guaranteed. Thank you, Land Title Guarantee, for providing these monthly statistics. Please let me know if you would like a full copy of the data.
