Summit County Real Estate Market | 2022 Recap

It's been a year since the last annual real estate market update, and the numbers for Summit County, CO are in for 2022.

The data shows a decrease in the number of single family home sales in 2022, with a 34% decrease from the previous year. However, despite the decrease in the number of sales, the average sold price for single family homes in Summit County has increased by 12% year over year. The inventory for single family homes is currently at 97, with an average list price of just over $4,846,000 and an average percent of list to sold price at 98%.

As a whole, the residential sales market in Summit County has also seen a decrease in the number of sales, with a 36% decrease from the previous year. However, the average sold price for residential property sales in Summit County has increased by 14%. The inventory for residential properties is currently at 249, with an average list price of around $2,752,000 and an average percent of list to sold price at 99%.

Lastly, the condominium market in Summit County has seen a 39% decrease in the number of sales compared to the previous year. However, the average sold price for condominium sales in Summit County has increased by 15%. The inventory for condominiums is currently at 115, with an average list price of around $1,198,000 and an average percent of list to sold price at 100%.

Overall, the real estate market in Summit County has seen a decrease in the number of sales for single family homes, residential properties, and condominiums. Despite this, the average sold prices for each of these property types have increased. The inventory levels for each property type are also relatively low, with the average percent of list to sold price being 98-100%. This could indicate that the market is currently favorable for sellers. However, as always, it's important to keep in mind that real estate is a local market and the data for Summit County may not reflect the trends in other areas.