Summit County 2024 Real Estate Market Recap: Residential, Single-Family Homes, and Condos
As 2024 comes to a close, Summit County’s real estate market has shown a mix of strength and variability across residential, single-family home, and condominium sales. This year’s stats reflect changing dynamics influenced by new construction, price growth, and fluctuating sales numbers. Let’s dive into the key highlights:
Summit County Residential Real Estate Stats (2024 versus 2023)
Residential Sales Overview
Residential sales in Summit County ended 2024 on a high note, with the average sold price increasing between +1% to +17%, depending on the town. The number of sales varied significantly, ranging from -8% to +32%. Across the board, the list-to-sold price ratio averaged 97%, offering more negotiation flexibility compared to previous years.
Frisco and Keystone saw noticeable impacts from new construction. For instance:
Frisco: Average prices rose 17%, while sales dipped 8%. Without new construction, prices would only be up 9%, and sales would have declined 15%.
Keystone: Prices increased 8%, and sales surged 32%. Excluding new construction, prices would have dropped 3%, with sales still rising by 24%.
In Breckenridge, prices grew 17%, and sales increased 1%, but without new luxury construction, prices would have jumped even further to 22%, with a sales uptick of 2%.
Summit County Residential Sales 2024 EOY Stats
Single-Family Homes
Single-family homes experienced notable price changes across Summit County, with the average sold price ranging from -4% to +21%. Sales numbers varied from -33% to +14%, while list-to-sold price ratios ranged between 94% and 98%, signaling negotiation opportunities for buyers.
Town-by-Town Breakdown:
Breckenridge:
Average Price: $2,885,810 (+21%)
Sales: 180 (+11%)
List-to-Sold Ratio: 96% (-1 percentage point)Frisco:
Average Price: $2,140,932 (+4%)
Sales: 25 (+14%)
List-to-Sold Ratio: 98% (+2 percentage points)Silverthorne:
Average Price: $2,109,887 (+4%)
Sales: 93 (-13%)
List-to-Sold Ratio: 96% (-4 percentage points)Dillon:
Average Price: $1,476,076 (+3%)
Sales: 46 (Flat)
List-to-Sold Ratio: 98% (+1 percentage point)Keystone:
Average Price: $2,444,125 (-4%)
Sales: 16 (-33%)
List-to-Sold Ratio: 94% (-1 percentage point)
Overall, Summit County’s single-family home market showed a 14% increase in average prices but remained largely flat in total sales (-0.3%).
Summit County Single-Family Home Sales 2024 EOY Stats
Condominium Sales
The condominium market revealed more moderate growth, with average prices increasing by +1% to +8%, depending on the town. Sales showed significant variability, ranging from -24% to +31%. The list-to-sold price ratio for condos held steady between 94% and 98%, again signaling opportunities for negotiation.
Key Town Highlights:
Silverthorne: Driven by new construction, prices increased 8%, and sales rose 21%. Without these new developments, prices would have dropped 10%, with sales down 23%.
Breckenridge, Dillon, and Keystone also showed varying performance, with both established properties and new builds contributing to overall numbers.
Summit County Condo Sales 2024 EOY Stats
Market Insights
2024 proved to be a dynamic year for Summit County real estate, with new construction playing a significant role in shaping town-specific trends. Both buyers and sellers found opportunities, whether through price growth, increased inventory, or the flexibility offered by wider negotiation ranges.
As we step into 2025, the market is poised for continued activity. With a strong start already in January and excellent snow conditions boosting interest in resort properties, this year holds promise for even greater opportunities in Summit County’s real estate market.
Let’s Chat!
If you have questions about these stats or want to explore opportunities in Summit County, feel free to reach out to our team at BuyBreck.com. Whether you're looking to buy or sell, we're here to guide you every step of the way.
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