Summit County Market Trends - Sept 2022

There were 177 single family homes listed for sale at the end of September in Summit County. This is a 77% increase when compared to September 2021. Meanwhile, some buyers have been moved to the sidelines as increased interest rates have made the cost of borrowed money much more expensive when compared with this time last year. Therefore, the number of sold listings decreased by 25.8% when compared to September of last year.

Inventory of single family homes may have been higher in September but this may change as we move into Fall. New listings that came onto the market decreased by a whopping 54.8% when compared with last September. The tightened inventory may help to ease pressure on selling price.

A similar story can be seen in the condo and town home market. However, the pricing pressure was not seen in this category. I suspect that this is due to Breckenridge recently implementing their short term rental regulations which allow renting at many of the condo complexes.