Editor’s note: Real Estate Roundup in an ongoing series offering a monthly glimpse at the local real estate market with transactions, historical comparisons and analysis from a rotating corps of High Country brokers.
It was bound to happen eventually.
After three months of noticeably improved sales, the real estate market in Summit County dipped to near-2014 levels for the first time this April, with local brokers notching two fewer home sales than the same time last year and no transactions over the $2.5 million mark, at least in the residential realm.
That’s not to say the market is struggling. Far from it: There were still 16 residential sales of at least $1 million, totaling $21.425 million alone. That brought the monthly total to nearly $70 million, up roughly $8 million over 2014 but still $13 million less than the high-water mark of $83 million this March.
When paired with the long-awaited sale of 20 commercial units at Main Street Station in Breckenridge — the prime property went for $5.6 million after years of absentee management — April was a reminder of just how healthy the market is at the moment. And the thick of summer buying season is yet to come.
Breckenridge again notched the majority of eye-popping sales this April, with one home each in the posh slopeside neighborhoods of Timber Trail and Estates at Snowy Pines going for more than $2 million. All but one of the five largest transactions were confined to Breck, with the sole outlier a $1.8 million land sale just north of Silverthorne Elementary School on State Highway 9.
Summit County real estate market notches $75M in April on strength of luxury home sales.