Summit County Colorado Real Estate – 2021 Appreciation Report
My full 2021 market report will be provided next month with our Mountain Trends report. The year 2021 did result in an approximate 30% increase of sales volume from 2020, but we also saw appreciation around 25% so much of the increase in the dollar volume number is due simply to pricing, not to the actual number of sales.
Median One Year Price Appreciation
Median price in January 2021 was $630,000, but by December 2021, the median price was $785,000. A 24.6% increase.
Average One Year Price Appreciation
Average price in January 2020 was $834,000 and in December 2021, the average price was $1.055m. A 26.5% increase.
The last two years of the real estate market in our resort community (like many resort communities), has been a whirlwind with intense buyer competition and rapidly increasing prices. I predict that in 2022 prices will stabilize or appreciate at a more modest rate since I think we have hit the top of the market price tolerance. This, coupled with additional governmental restrictions on short term rentals, making the income side of the real estate investment equation less certain, should even out our pricing.
