At just over one month into the new year, Summit County real estate transactions have slowed down. January ended with 81 residential transactions, a 7% decrease from last year and over 50% decrease from last month. This drop in sales from December to January is consistent with the flow of the local market for the past 10 years. The average sales price for the past 3 months is $811,344; this is just under last year's average by 1%. The 3 - month average price/square foot, however, is 5% higher than last year at $49 8/ sq. ft. Overall, residential properties took 60 days to sell, on average, which is a 3% decrease from last year.
Land transactions slowed this month as well, with a total of 7 sales. This is 36% less compared to last year but falls just below the average (8) for the past 10 years. The luxury market saw twenty $1 million+ transactions in January, the exact same amount as last year. The highest sale was a Slifer Smith & Frampton listing located in the Highlands subdivision in Breckenridge. This 5 -bed/ 4.5 -bath, 4,011 square-foot single-family home sold for $ 2,445,000.
February has already produced 16 residential sales and 1 land. There are 568 active listings currently - 434 residential and 134 land - a 10% increase in inventory compared to last year and a 44% decrease compared to 5 years ago.