Once again, our colleagues at Land Title Guarantee Company have provided us with a Summit County, Colorado real estate market update. The data below comes from actual recorded transactions and is not directly related to MLS data. This means that this includes For Sale By Owner and any private transactions.
First Quarter 2025 as compared to First Quarter 2024:
· Average Prices
o Single Family Home is at $2,527,115 which is up 6% from 2024 which was $2,388,692
o Multi-Family is $1,125,333 which is up 8% from 2024 which was $1,041,536
o Vacant Land is $854,750, up 20% from 2024 which was $713,414
· Median Prices
o Single Family Homes = $1,874,500 down 6% from 2024 which was $1,986,750
o Multi-Family Homes is $908,000 up 4% from 2024 which was $875,000
o Vacant Land is $610,000 up 3% from 2024 which was $592,500
Diving deeper, let’s compare the number and volume of transactions for the first quarter over the last 3 years:
· YTD Number of Transactions:
o 2025 = 241 Transactions with 147 selling for over $1,000,000
o 2024 = 235 Transactions with 124 selling for over $1,000,000
o 2023 = 210 Transactions with 98 selling for over $1,000,000
· YTD Monetary Volume of Transactions:
o 2025 = $408,579,999
o 2024 = $334,725,920
o 2023 = $282,779,824
Cash or Loan?
There were a total of 263 loans made in March 2025. 75 were related to sales, 69 were REFI’s and 119 were timeshare loans. 42% of all real estate deals were closed with cash.
Who Is Buying in Summit County?
This is the first time that I recall in recent years where the number of local buyers and also out-of-state buyers exceeded the number of Front Range buyers.
· Month of March 2025:
o 35% of all transactions were Local Buyers
o 30% of all transactions were from the Front Range
o 35% of all transactions were from Out-of-State (but within the US)
o There were no international transactions in March
· YTD through March 2025:
o 33% of all transactions were Local Buyers
o 33% of all transactions were from the Front Range
o 33% of all transactions were from Out-Of-State Buyers (but within the US)
§ Most of those come from Texas (25 total transactions)
§ Florida – 11 Transactions
§ Illinois – 8 Transactions
§ Minnesota – 7 Transactions
o 1 Transaction was with an International Buyer
While we are seeing increases in inventory from previous years, buyer activity remains strong. Pricing well will determine your success when you sell real estate. Homes that are priced too high will sit on the market longer. Rather than being a strong Seller’s Market as has been the case for the past 5 years, the increase in inventory provides buyers with more negotiating power. Call us at Nelson Walley Real Estate to assist you with your home selling or home buying needs.