Summit County Real Estate Market Update – February 2025
Nothing earth shattering to report this month.
Average Sales price remains steady and slightly upward looking at trailing 12 month numbers.
Active listings are up to 468 in Summit. This is 100 more than last February.
Only 83 properties went under contract in February. Last year it was 82. February is a slow month for pending contracts due to rental occupancy and lower inventory levels.
February saw 81 closings. Last year there were 95.
In February there were 2.3 showings per listing.
To get under contract, properties are averaging 11 showings.
Average Days on Market for February is 82.
What does all of this mean?
I expect that listings will continue to accumulate through May and we will see higher inventory levels which is a common occurrence in our seasonal market. Buyer demand hasn’t changed much in the last 18 months, so Sellers should price competitively and be prepared for at least 2 months of holding time. Attractive, remodeled properties sell more quickly than those needing work.
If you would like an individual report tailored to your property, please reach out.
Here is a link to our online mountain trends report for 2024 for more macro trends over a longer period of time.
