Summit County Real Estate Market Update: Q1 2025
As we close out the first quarter of 2025, Summit County’s real estate market is showing renewed energy. Sales activity, pricing trends, and buyer behavior all point to a market that is shifting, but in a direction that brings opportunity for both buyers and sellers.
Sales Activity Rebounds with March Momentum
The number of residential property closings in March surged by 18%, capping off a volatile but ultimately positive first quarter. January kicked off with a 33% year-over-year increase in sales, followed by a 20% dip in February, and now we’re seeing that rebound reflected in the year-to-date numbers: residential sales are up 7% compared to Q1 2024, with 259 properties closed so far this year.
More Inventory, More Negotiation Room
Buyers have more choices than they’ve had in recent years. Inventory is up 39% year-over-year, with 485 active listings on the market through the end of March. Alongside that, sellers are showing increased flexibility, properties are now selling at an average of 97% of their list price, down one percentage point from last year. This signals more negotiating room for buyers.
Summit County Residential Real Estate Q1 2025 compared to Q1 2024
Luxury Segment Leads the Way
One of the most notable shifts in Q1 is the strength of the luxury market. Properties sold for over $2,000,000 increased by an impressive 27% compared to the same period last year, while properties under $2,000,000 saw a modest 3% increase. This jump in high-end sales contributed to a 13% increase in the average sales price, which now sits at $1,583,882.
Market Dynamics Shift: Longer Days on Market, Lower Price Per Square Foot
While pricing and sales volume are on the rise, other indicators suggest buyers are taking their time. The average number of days on market has increased to 77—up 22 days from the same time last year. The average price per square foot also dipped slightly, down 3% to $787.
Looking Ahead: Optimism for Spring and Summer
With March delivering a healthy sales boost and inventory levels on the rise, we’re optimistic about Q2 and the upcoming summer selling season. Whether you're considering buying or selling, now is a great time to take advantage of this evolving market landscape.
Ready to make your move in Summit County Colorado?
Whether you’re just starting your search or thinking about listing your home, the BuyBreck Team is here to help you navigate every step with confidence. Reach out today for a custom property search, a complimentary home valuation, or simply to chat about your goals in the mountains.
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