Three years ago, Summit County Sellers had buyers lining up to buy their property.  They were getting top dollar and receiving a nice appreciation.

It isn’t a surprise that it is a  buyer’s market out there which is great news for buyers, not so great for sellers. Sellers are no longer in a position to dictate the rules of the game and have to be careful how they respond and counter to offers, due to the fact that if a buyer doesn’t get his way he might just move on to the next seller, and there are a lot of sellers out there.

Summit County is usually last to feel a recession and last to recover. Interest rates are still very low, and now is the time to get in the market for the buyer.

If you purchased your home in Summit County within the last few years, you should not expect to make any money if you sell today.  This is the type of market we are experiencing. The good news is, if you owned a home in another part of the Country, you would be fortunate if you didn’t have to take a loss on your home.  Also, if you purchased your home within the past 5-10 years, you will most likely be able to experience a return on your investment.  The problem that we see is the Seller’s still want more money back, if this is the case than hold on to your property for a few more years.

There are a few difficult things about being a seller today. A seller doesn’t know how long it will take to sell his home and when he gets a contract he can’t guarantee whether another one will come or not. What this means is that if a seller has to sell his home then he has to be wary of scaring the buyer away.

The inspection is one aspect of a contract where a seller can lose his shirt. If trying to sell your home it is a wise idea to have your home inspected before listing your home. This way you can make the necessary improvements and will avoid being surprised by unexpected requests. Because sellers are not in a position to capitalize on their real estate investment it is more important than ever to be on top of things, in order to retain as much value as possible.

An experienced Realtor is incredibly helpful in maneuvering a tricky real estate market, enabling a seller to evaluate his home, price it appropriately and sell it in a reasonable amount of time. For more information give Leah Baxter a call 970-389-6367 or if you would like a free market analysis leah@leahbaxter.com – www.leahbaxter.com for a list of all the properties available in Summit County.

Sourced from: Kinetic Content Library

BRECKENRIDGE- The average price of a SF home sold  in Breckenridge was $1.34 million, price per sq. ft. was $327sq ft.  The avg. Sales price for a duplex was $956k  or $325 per sq. ft.. The avg. price of a condo sold was $576k  or $431 per sq. ft.   The avg. price of a Town home was $300k or $409 per sq ft. 

COPPER MOUNTAIN- The average price of  a SF home sold  was $1.5 million or $276 per sq. ft.   The average price of a condo was $504k or $365 per sq. ft. 

FRISCO- The average price of a SF home was $929k or $273 per sq. ft.  The average price of a Duplex was $769k or $248 per sq. ft. The average price of a condo was $448k or $289 a sq. ft.  The average price of a Town home was $1 million or $471 a sq. ft.

KEYSTONE- The average price of  SF home sold was $1.5 million or $352 per sq. ft. The average price for a condo was $500k or $346 per sq. ft.  The avg. price of a Townhome was $1.29 million or $268 per sq. ft. 

SILVERTHORNE/DILLON- The average price of a Single family home sold for $967k or $252 per sq. ft. The average price for a duplex was $638k  or $229 per sq. ft.  The average price of a condo was $332k or $289 per sq. ft.  The average price of a townhouse was $527k or $241 per sq. ft. 
The change of the average sales price from 09 vs 08 are as follows: Breckenridge was -3.2% , Frisco was -5.3%, Copper MT. was +2.8% , Keystone was +5.0% Dillon was -5.1%, Silverthorne and Wildernest were +0.5%.
These statistics were obtained from SAR’s MLS Database.  This information is believed to be accurate, but has not been verified.  Buyers and Sellers are cautioned to verify all information to their own satisfaction. 

If you would like a free Comparable Market Analysis of your property, please email me at leah@leahbaxter.com or call 970-389-6367.

It is now the end of April, we are finally heading into our Spring.  Most of the Ski resorts are closed for the season and everyone is gearing up for our Summer Season.

Have you been thinking about buying property for quite some time, but wonder if it is a good time or not?  Now is a great time to buy properties in Summit County!  We are experiencing price points from 2007 and 2006.  Our market is currently flat,  and Seller’s seem to be a little more motivated these days .  The best part about buying now are that Interest rates are at an all time low under 5%. 

Resort real estate is a great long term investment, even if you are just trying to get into the market, you can get a studio for as low as $124,900.  That is the lowest prices studio in Summit County.  There isn’t as much competition between buyers now, so don’t wait until the frenzy begins again, which historically will happen as soon as consumer confidence emerges. 

So, if you have thought about that mountain property, and would like to see what is available, give me a call 970-389-6367 or check out my website www.leahbaxter.com.

Also check out all of the properties Summit County has to offer, what are you waiting for?

The market in Summit County, Colorado which consists of Breckenridge, Keystone, Copper Mtn., Frisco, Dillon and Silverthorne ended up pretty well last year. 

The most expensive condo to sell in Summit County was $2.4 million. The Most expensive single family home sold for $5.5 million . There were 646 condominiums sold in Summit County with the lowest price of $122,500.

The lowest priced  non-modular home Single family  home sold for $300,000. A total of 324 Single Family homes sold in Summit County.  The average Sold price was $950,000 and the Median Sold Price was $755,000.  The percentage of Asking price was 95.7%.

The total number of residences sold was 1199.  The average sales price was $463,000 and the percentage of asking price was 96.5%.

Please visit my website www.leahbaxter.com or simple go to the MLS and search all properties available in Summit County.  Leah Baxter can be reached at 970-389-6367 for more information.