Summit Real Estate's Quarterly Newsletter- The Compass

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A Quarterly Guide to Summit County's Real Estate Market & Happenings
Autumn 2021 Edition | Curated by The Summit Real Estate Team
SUMMIT COUNTY FALL MARKET INSIGHTS

What's happening in the Summit County Real Estate Market?

When it comes to the latest news in real estate, there are soooo many sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in us, your hyper-local experts! Here in Summit County, the market is most assuredly different in many respects than other places in the country, and even in Colorado. 

Let's take a deeper dive into the data!

Despite what you may have read, the second home and resort housing market is still undeniably strong. 

This time last year, we had 1,234 sales. This year so far? 1,486 sales. That's an increase of 20%!

The average property is selling for 101% of list price. And the average Days on Market (DOM) is 4. 


Here’s a look at what leading experts have to say about buyer demand today and how it continues to shape the industry:

Michael Lane, President at ShowingTime:
“In general, there are definite signs of cooling demand. However, buyer traffic is still at historically high levels compared to pre-pandemic showings.”
 
Odeta Kushi, Deputy Chief Economist at First American:
“Seasonally adjusted purchase applications tick up slightly to the highest level since July. Demand for homes remains strong and steady. Excluding 2020 (not a good benchmark) purchase applications are the strongest in a decade.”
 
Selma Hepp, Deputy Chief Economist at CoreLogic:
“Home buyer demand pushed price growth to a new record high in June, with S&P CoreLogic national Case-Shiller Index clocking in an 18.6% year-over-year growth rate. The month-to-month index jumped 2.18%, making it another strong monthly growth, and the fastest May-to-June increase since the data series began.”

What It Means for You
As a seller, buyer demand is an important factor that helps influence how fast your house will sell and how many buyers may be competing for it. When buyers have to compete against each other for a limited supply of available homes, bidding wars can drive prices up. While things have cooled slightly since the peak of the pandemic housing rush, buyer demand is still far surpassing historical norms. That’s why we’re still in a sellers’ market.

Are you a buyer? Get your ducks in a row so that you are ready to make the strongest offer possible. There are some interesting programs out there where you can present your offer as a cash deal, even if you are getting a loan.  Ask us for details!


Bottom Line
If you’re torn on whether or not you want to sell or buy home Summit County home this year, rest assured it’s still a great time to make a move.

Let’s connect to discuss how you can sell/buy now and do it on your best terms thanks to today’s buyer demand.

 
Warmly
SEARCH FEATURED LISTINGS
Americans Choose Real Estate "The Best Investment"
Source: Gallup
WHAT'S NEW IN BRECKENRIDGE?
Town of Breckenridge to buy mountain bike events & leagues from Maverick Sports Promotions Town to operate Firecracker 50, Summit Mountain Challenge and Junior Mountain Bike League beginning in October

The town of Breckenridge and Jeff “Westy” Westcott of Maverick Sports Promotions have agreed to a deal for the town to purchase from Westcott the Firecracker 50, the Summit Mountain Challenge and Mountain Bike Junior League.

Westcott said Tuesday, Aug. 17, that the deal stipulates the town would overtake operation of the mountain bike events effective for the 2022 summer season. The agreement also stipulates that beginning next year, Westcott and Maverick Sports Promotions will be contracted by the town to conduct timing, results and data management for the events as well as the town’s Independence Day 10K trail run.

The Summit Mountain Challenge is a seven-race series on alternating Wednesdays each summer serving the local community while the Mountain Bike Junior League consists of races and group rides throughout the summer. The races in the series this summer are the Frisco Roundup, Gold Run Rush, Pennsylvania Gulch Grind, Soda Creek Scramble, Copper Mountain Melee, Peaks Trail Time Trial and The Fall Classic. Read Full Article Here.

WE LOVE WHAT WE DO & Love to Hear From You!
This amazing group of women transacted the long distance sale of two condos for me - from listing to closings in under two weeks ! I couldn't believe how smoothly the paperwork was handled. The friendliness, warmth, efficiency and laughs we shared made me feel like I was with a group of lifelong friends even though I never met them in person. I had been reading the newsletter sent by the Owner for some time and was impressed. That is how I came to chose them to handle these sales. Beyond that, there were personal issues which were thoughtfully handled for me. The entire experience was simply incredible ! What a team ! Thank you all so very much! Candi
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THE BRIGHT CHOICE - Locally Owned & Invested

Welcome to the Summit Real Estate Dillon, CO Team!

We are a women-led Summit County, CO Brokerage. Our vision is to grow as a team professionally and successfully, to achieve goals together and individually, to be self sufficient and do our very best for our families, our team members, our communities and our clients. Our vision of success and legacy is measured by our reputation and our drive to bring value to our clients and the real estate industry. We are a top producing team that works hard yet smart and has fun selling real estate! More about the SRE Team.

We appreciate your trust in choosing Summit Real Estate for your real estate needs & invite you to buy or sell with our team. Want to Join the Club? Find out what perks our clients enjoy when they buy or sell with us.


See you in the Mountains!
Your Summit Real Estate Team,
Allison Simson, Owner/Broker
Kelie Gray, Broker Associate, Real Estate Matchmaker
Trisha Moore, Broker Associate, Real Estate Matchmaker
Isabel Rawson, Broker Associate, Real Estate Matchmaker
Deena Heppner, Broker Associate, Real Estate Matchmaker
Brandy Morgan, Operations Manager
Margaret Bowes, Transaction Coordinator
Allyson Ertel, Social Media Coordinator
Joy Lukasiewicz, Kelie Gray's Assistant

Office: 970.468.6800 | SummitRealEstate.com | Team@SummitRealEstate.com

Copyright © 2019 Summit Real Estate, All rights reserved.


Our mailing address is:
PO Box 2389 Dillon, CO 80435

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