OPPORTUNITY TIME III
We are currently pacing at about 50 more properties going under contract per week than new listings coming on. This has been the trend since late June. The result is that we are at less than 250 active listings in Summit County. At this pace we will hit zero in four to six weeks. Additionally, half of all these active listings are for over a million dollars.
What that means for you; If you want to be here for the lifestyle, to escape the COVID crowds or just fun and games you have a short window to get in for the ski season. If you are thinking under a million we are talking weeks. Over a million you probably have a couple months. Plan B will be wait and see if sellers come out of the woods next spring. Maybe you expect prices to drop next year. I will tell you the whole world is looking at having a place in The Rockies as sanctuary. It may be a long time before we run out of buyers.
Here's a month by month tracking of the market so you can see how it explodes. Next week is the September statistics, YTD and year over year. Also look for updates from the ski areas.
The Week of October 12th
10/19/20 244 Active Listings 425 Non-preconstruction Pendings
Pendings DOM; median 21 Ave 60.
Solds last 30 days 99% of list price
Price Decrease (28)
Price Increase (6)
New Listing (27)
Back On Market (10)
Pending (83)
Sold (95)
Withdrawn (14)
Expired (10)
The Week of September 7th
9/13/20 390 Active Listings 506 Non-preconstruction Pendings
Pendings DOM; median 26 Ave 67
Solds last 30 days 98% of list price
Price Decrease (27)
Price Increase (0)
New Listing (50)
Back On Market (14)
Pending (118)
Sold (82)
Withdrawn (11)Expired (11)
The Week of August 10th
8/16/20 500 Active Listings 453 Non-preconstruction Pendings
Pendings DOM; median 26 Ave 66
Price Decrease (46)
Price Increase (4)
New Listing (62)
Back On Market (7)
Pending (133)
Sold (79)
Withdrawn (13)
Expired (7)
The Week of July 6th
7/12/20 680 Active 347 Non-preconstruction Pendings
Pendings; DOM median 21 Ave 57
Price Decrease (61)
Price Increase (13)
New Listing (80)
Back On Market (12)
Pending (136)
Sold (55)
Withdrawn (10)
Expired (7)
The Week of June 7th
6/14/20 **718 Active, This was our PEAK.** 178 Non-preconstruction Pendings
Pendings; DOM median 20 Ave 62
Price Decrease (49)
Price Increase (5)
New Listing (79)
Back On Market (4)
Pending (76)
Sold (8)
Withdrawn (6)
Expired (5)
The Week of May 17
5/24/20 669 Active 118 Non-preconstruction Pendings
Pendings; median DOM 24 Ave 72
Price Decrease (27)
Price Increase (1)
New Listing (84)
Back On Market (7)
Pending (40)
Sold (23)
Withdrawn (14)
Expired (7)
The Week of May 10
5/17/20 636 Active 108 Non-preconstruction Pendings
Pendings; median DOM 31 Ave 78
Price Decrease (34)
Price Increase (1)
New Listing (94)
Back On Market (9)
Pending (34)
Sold (18)
Withdrawn (7)
Expired (9)
The Week of April 12
4/19/20 569 Active 295 Pending
Pendings; DOM Median-11 Average-33
Price Decrease (12)
Price Increase (1)
New Listing (33)
Back On Market (7)
Pending (13)
Sold (30)
Withdrawn (16)
Expired (5)
The Week of March 16th
3/22/20 493 active
Price Decrease (20)
Price Increase (2)
New Listing (39)
Back On Market (25)
Pending (28)
Sold (20)
Withdrawn (25)
Expired (9)
I hope you're staying healthy and planning on seeing us when this winter, it's gonna be a good one! As always, I appreciate you. If you can think of anything I can do to help make your life easier today, please let me know.