Summit County continued the trend of increasing prices and inventory shortages, translating into fewer units sold, for the month of January. Prices rose almost 20% for condos and townhomes with just over 30% decreases in both number of closed sales and inventory, with levels being even lower than in December.

Looking at single family homes there was an astonishing increase in the prices of single family homes – 87.3% increase YoY, with the average price for a single family home beating Vail Valley prices. This is of course great news for sellers but at such a large increase I can’t help but wonder what this means in the long run so it will be interesting to see what next month’s statistics show.

For a detailed analysis of a specific Summit county town or neighborhood please send me an email at soley@kentwood.com