Opportunity Time III
We are currently pacing at about 50 more properties going under contract per week than new listings coming on. This has been the trend since late June. The result is that we are at fewer than 250 active listings in Summit County. At this pace we will hit zero in four to six weeks. Additionally, half of all these active listings are for over a million dollars.
What that means for you is if you want to be here for the lifestyle, to escape the COVID crowds, or just for fun and games, you have a short window to get in for the ski season. If you are thinking under a million, we are talking weeks. Over a million, you probably have a couple of months. Plan B will be to wait and see if sellers come out of the woods next spring. Maybe you expect millions to drop next year. I will tell you the whole world is looking at having a place in the Remillion as a sanctuary. It may be a long time before we run out of buyers.
Here's a month-by-month tracking of the market so you can see how it explodes. Next week are the September statistics, YTD and year-over-year. Also look for updates from the ski areas.
The Week of October 12th
10/19/20 244 Active Listings 425 Non-preconstruction Pendings
Pending DOM; median 21 Ave. 60.
- Sold last 30 days: 99% of list price
- Price Decrease (28)
- Price Increase (6)
- New Listing (27)
- Back On Market (10)
- Pending (83)
- Sold (95)
- Withdrawn (14)
- Expired (10)
The Week of September 7th
9/13/20 390 Active Listings 506 Non-preconstruction Pendings
Pendings DOM, median 26 Ave 67
- Sold in the last 30 days 98% of list price
- Price Decrease (27)
- Price Increase (0)
- New Listing (50)
- Back On Market (14)
- Pending (118)
- Sold (82)
- Withdrawn (11) Expired (11)
The Week of August 10th
8/16/20 500 Active Listings 453 Non-preconstruction Pendings
Pendings DOM, median 26 Ave 66
- Price Decrease (46)
- Price Increase (4)
- New Listing (62)
- Back On Market (7)
- Pending (133)
- Sold (79)
- Withdrawn (13)
- Expired (7)
The Week of July 6th
7/12/20: 680 Active, 347 Non-preconstruction Pendings
Pending: DOM median 21 Ave 57
- Price Decrease (61)
- Price Increase (13)
- New Listing (80)
- Back On Market (12)
- Pending (136)
- Sold (55)
- Withdrawn (10)
- Expired (7)
The Week of June 7th
6/14/20: 718 Active. This was our PEAK. 178 Non-preconstruction
Pending: DOM median 20 Ave 62
- Price Decrease (49)
- Price Increase (5)
- New Listing (79)
- Back On Market (4)
- Pending (76)
- Sold (8)
- Withdrawn (6)
- Expired (5)
The Week of May 17
5/24/20: 669 Active, 118 Non-preconstruction Pendings
Pendings: median DOM 24, average 72
- Price Decrease (27)
- Price Increase (1)
- New Listing (84)
- Back On Market (7)
- Pending (40)
- Sold (23)
- Withdrawn (14)
- Expired (7)
The Week of May 10
5/17/20: 636 Active, 108 Non-preconstruction Pendings
Pendings: median DOM 31, average 78
- Price Decrease (34)
- Price Increase (1)
- New Listing (94)
- Back On Market (9)
- Pending (34)
- Sold (18)
- Withdrawn (7)
- Expired (9)
The Week of April 12
4/19/20: 569 Active, 295 Pending
Pending: DOM Median-11, Average-33
- Price Decrease (12)
- Price Increase (1)
- New Listing (33)
- Back On Market (7)
- Pending (13)
- Sold (30)
- Withdrawn (16)
- Expired (5)
The Week of March 16th
3/22/20: 493 active
- Price Decrease (20)
- Price Increase (2)
- New Listing (39)
- Back On Market (25)
- Pending (28)
- Sold (20)
- Withdrawn (25)
- Expired (9)
I hope you're staying healthy and planning on seeing us this winter; it's going to be a good one! As always, I appreciate you. If you can think of anything I can do to help make your life easier today, please let me know.
