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| Greetings from Summit County Colorado! |
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Hello to my favorite friends and clients! I hope you enjoyed your Summer. In the Summit County real estate world, we are closing transactions that went under contract this summer, and gearing up for the snow, seasonal rentals, and ski season. If you "forgot" to buy your mountain condo, then let me help get you settled before you are battling the crowds on I-70.
The New Seasons at Keystone is making great progress. We will be closing our first units next quarter. If you want to be added to the First to Know list, you can sign up here:
New Seasons at Keystone First to Know List. We have 6 units left in our first phase and will be releasing 24 more units in the future.
Featured listings are some newly remodeled residential condos in the heart of Dillon's vibrant commercial district! These would make great weekend condos or an investment that can be long or short term rented.
As always, if I can be of assistance in helping you in any way with all things Summit County, please feel free to reach out.
And until next time, keep living the dream!
Amy Nakos
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Summit County Market Trends
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Market Snapshot for Years 2019 YTD vs 2018:
Average Indicators:
Single Family +14%, Multi- Family +8% and Vacant Land -10%.
Median Indicators: Single Family +7%, Multi- Family +10% and Vacant Land -14%.
- Market Analysis % Change 2019:
- Monetary volume ($239.126,600) in August 2019 was up 1% from August 2018.
- Transactions (261) were down 18% in from August 2018. YTD 2019
- Monetary Volume is pacing 5% ahead of YTD August 2018, and transactions are down 10%.
- Residential Cost Analysis: Residential volume in August had 210 transactions with $190,106,300 gross volume. There were 54 properties that sold for $1M and above in August. There were 80 Single Family, 130 Multi-Family and 8 Vacant Land transactions.
Amy's Analysis: We are continuing to see price appreciation in our market, although personally, I do sense that it is flattening out a bit. We are also seeing less volume, meaning a lower number of transactions. However, the appreciation, even though slowing, is keeping dollar volume steady.
People are asking me whether they should wait for a "market correction," but I don't see any major price declines in the future. If anything, as I mentioned, the market will likely flatten as opposed to go down. With the national economy remaining strong, interest rates dropping, and Denver's never ending population growth, I predict our market will also stay steady for years to come.
We are at about 6 months of inventory in our entire market. Closings price is 97-98% of list price. We are moving into a more balanced market. This means buyers will have more time to act, and will be able to negotiate price and terms more than they have been able to in the last 5 years.
Statistic provided by Land Title Guarantee Company
Summit MLS Stats report, August 2019
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The New Seasons at Keystone
Construction Update
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View from Unit 1825 Master Bedroom
3/3, River Building, $849,000 |
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View from Unit 1893
3/3, Trail Building, $819,000
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The construction team has made great progress on the River and Trail buildings! We will begin to close units in the River Building starting at the end of November. If you would like to learn more about our current offering, please reach out to me!
- One Bedrooms are SOLD OUT!
- Only 2 units left in the River Building
- Only 4 units left in the Trail Building
All of our one bedrooms have been sold out. But don't despair . . . We still have two and three bedroom options for buyers looking to get new construction condos in Keystone Resort!
Two bedroom units start at $619,000 and three bedroom units start at $819,000.
For more information, visit our website at www.newseasonsatkeystone.com. |
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Featured Listings
Alpine Ridge Condos
Dillon Colorado
Completely Remodeled Reserved Parking Pet and Rental Friendly Assigned Private Storage Unit Views of the Gore Range
One Bedrooms:
$320,000-$350,000
Two Bedrooms:
$499,000-$520,000
Great investment, weekend condo, or full time residence. Schedule your private showing today!
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Mountain Resort Real Estate Class
Join me on October 8 from 6-8 PM in Denver for our discussion on Mountain Resort Real Estate Trends. If you are curious about whether you can afford a mountain home, about short term rental income, or any other issues related to owning a second home in the mountains, we are here to answer your questions! Your Castle Real Estate has offices in Summit County, Eagle County, and Steamboat. We will discuss the market conditions in those resort areas and answer your questions!
Registration is Free.
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Amy Nakos, JD, GRI, RSPS, CLHMS | Your Castle Summit | 970.389.8388| anakos@yourcastle.org | amynakos.com
I can do business in all 50 states! Ask me how.
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