The Summit County Market: As we roll into the final week of the 1st quarter of 2014, the Residential sales (number of sales) countywide is now up 4% as is the average sold price which is up 7%!
But, breaking the sale down by the North Side of the county (Frisco, Copper, Keystone, Dillon and Silverthorne combined) and the South Side (the Breckenridge market) is still showing a different story.
The North Side Market: Residential sales are still in the declining mode, although the decline has improved somewhat, to the extent of a -9% for the number of properties sold with a decrease in the average sold price of -3.5%.
The South Side Market: Residential sales have increase in the number of sales by 24% with an improvement in the average sold price of 7.2%.
Improvement by Price Range: Interesting to note that the improvement in sold residential properties countywide is entirely in the over $500,000 range. The under $500,000 sales so far in 2014 are identical to 2013's.
North Side by Price Range: The over $500,000 sales are down -3%; which translates to one property less sold in 2014. The under $500,000 sales are down -11%.
South Side by Price Range: The over $500,000 sales are up 20.5% and the under $500,000 sales are up 28.5%! The South Side is just generally UP.
As the last week unfolds it will certainly prove to be an interesting 1st quarter - look for an update on the 1st quarter in April.