The Summer Real Estate Season Heats up in Summit County, Colorado!

It appears to be time to put the anomalies of the COVID buyer frenzy behind us, because we have now, officially, gone back to pre-COVID buying patterns here in Summit County, Colorado.  What, exactly, does that mean?  During 2020-2022, there wasn’t a bad time to put a property on the market.  You wanted to sell?  You listed your home in the MLS and waited for multiple offers to come in - regardless of the time of year.  However, beginning in 2023, we saw many signs of seasonal buyers and so far, 2024 has proven that buyers just aren’t getting busy until mid-June.  

This graph shows you the number of new listings that have come on the market each month for 2023 through May 2024:

March/April/May of 2024 are higher in 2024 than in 2023 because many Realtors are anticipating a quiet fall which is very typical in a general election year.  Agents (Nelson Walley Real Estate included), felt that we needed to get on the market early to allow more time for active buyers to view properties.  However, we quickly discovered that buyers still are not active until late May and slowly begin to pick up activity throughout the summer.

The next graphic shows us the number of properties that have gone under contract (Pending Sale) each month from January 2023 through May 2024.

If you currently have your home on the market hoping to sell this year, do not fear - the real buyer activity begins late this month (June) and will likely go at least through mid-August.  If you are a buyer waiting for the right time to start shopping, that time is NOW.  By July/August, you will have the highest amount of inventory to choose from.

Are prices falling?  NOPE!  Not really.  There are some pockets where we are seeing prices dropping a bit (i.e. Wildernest and Dillon Valley where buyers are not going to be able to get a short-term rental license for probably at least 4-5 years and insurance rates are skyrocketing hence, higher HOA dues), but for the most part, we are seeing price increases, especially for single-family homes.

In all of Summit County, Average and Median prices look like this:

Single Family Homes:

  • Average SFH Price YTD through April 2024 = $2,504,521
  • Average Sales Prices are up 20% over YTD through April 2023 prices
  • Median Sales Prices are up 14% over YTD April 2023 prices


Multi-family Homes:

  • Average MFH Price YTD through April 2024 = $1,039,299
  • Average Sales Prices are up 9% over YTD April 2023 prices
  • Median Sales Prices are down 2% over YTD April 2023 prices


Keep in mind that this is only 4 months worth of data for 2024 and just a couple of sales can skew the numbers.  We do believe that the Median Price percentages are probably more representative of what we will see over the course of this year.


Where are our Buyers Coming From?

For the first 4 months of 2024, our buyers are coming from:

  • Front Range = 155 Buyers (36%)
  • Out of State (Domestic) = 153 Buyers (36%)
    • Texas = 35
    • Florida = 15
    • Illinois = 13
    • California = 10
    • Missouri = 9
  • Local = 119 (28%)
  • International = 2 (0%)


Cash or Credit?

For the Month of April 2024:

Loans = 54%

Cash Transactions = 46%


If you are contemplating selling your home this year, NOW is the time to get it on the market.  Call Nelson Walley Real Estate today at 970-368-4448 to set up a listing appointment with your team.

If you are a buyer hoping to buy your new mountain retreat, call us today!  New listings are coming on the market every day and we don’t want you to miss out!!



We cherish the relationships we make in helping our clients realize their goals. Whether buying or selling a home your best interest is our top priority.

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