Is Summit County, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Summit County is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Summit County was a Neutral Market.

Key Takeaway

Summit County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Summit County, CO

How much do homes in Summit County, CO cost?

Median Sold Price

$975,000

$785/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$412,500(-29.7%)

Key Takeaway

Homes in Summit County have sold for 29.7% less than they did a month ago.

Summary: The median home sold price in Summit County was $975,000 in October 2024, down 29.7% from last month, and the median price per square foot was $785.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 $448.9K$586.5K
+30.7%
2 $782.5K$810K
+3.5%
3 $1.4M$1.4M
+1.1%
4 $2.0M$3.1M
+53.8%
5+ $2.3M$2.4M
+5.0%

Summary: Summit County housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes increased by 30.7%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 53.8%, and 5+ bedroom homes increased by 5%.

Housing Supply in Summit County, CO

How many homes are available in Summit County, CO?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
368362-1.6%

Summary: The Summit County real estate market had 362 homes for sale in October 2024, a 1.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 4551
+13.3%
2 9994
-5.1%
3 8183
+2.5%
4 8479
-6.0%
5+ 5955
-6.8%

Summary: The Summit County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.3%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes decreased by 6.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5461+13.0%

Asking Price vs. Sold Price

50 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Summit County, you may be able to get a good deal. 82% of homes here sold below asking price last month.

Summary: A total of 61 homes were sold or pending in Summit County in October 2024, up by 13.0% month-over-month. Of the 61 sold homes, 82% were sold under asking, 10% were sold at asking, and 8% were sold over asking.

Days on Market for Summit County, CO

How long does it take to sell a home in Summit County, CO?

Average Sale Time

Sep 2024Oct 2024CHANGE
51 Days80 Days+57.5%

Summary: Homes in Summit County had an average of 80 days on market in Oct 2024, up by 57.5% compared to last month.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

24 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Summit County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 61 homes were sold in Summit County; 33% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 39% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Summit County, CO

Nearby Markets to Summit County, CO

What housing markets are near Summit County, CO?