Market Watch | August 2016 Real Estate StatisticsPosted by Breckenridge Associates Real Estate on
Summer in Summit and Park Counties are traditionally our busiest season for real estate sales and this summer seems no different. A strong jobs report for July and record low mortgage rates contribute to the strength of the resort real estate market. In fact, as of August 11th, jumbo 30 year fixed rate mortgages moved to a record low for the second consecutive week.
Some important local trends to note include continuing appreciation and quick absorption. There are approximately 30% fewer active residential listings on the market than this time last year, properties are selling faster than ever, values are up, and homes are selling at 95%-98% of listing price. Depending on location and type, we are seeing properties spending only half or fewer days on…
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