Momentum Continues in Summit County Luxury Real Estate Sales

The luxury real estate market has increasingly become an important sector in the Summit County real estate market, but with a limited number of properties available and a fast-growing demand.

Depending on the type of property-short term rental condo, second home, townhome, etc.- it takes a seasoned Real Estate professional who understands our local market to provide the knowledge and expert advice for both buyers and sellers. Every real estate transaction is important to those involved, and in the luxury market, experience matters. Breckenridge Associates has a proven track record with this high-end market, having closed 109 $1M+ home sales in 2020. And, as evidence that this market is expanding, Breckenridge Associates has already brought to close 55 home sales of $1M + through June 2021.

The limited inventory in this singular market, and the increasing demand for these properties, is supported by the decrease in the time it takes to bring these homes from listing to closing. Breckenridge Associates has noted significant declines in the average number of days it takes to sell a luxury home. For example, in 2020, the average number of ‘days-on-market’ for luxury homes in Summit County was 63 days. 2021 has shown another clear-cut decrease, with an average of just 33 days-on-market.

January through June of 2020 - in all of Summit County - a total of 129 $1M+ homes were sold. In the same timeframe 2021 through June, that number grew to a staggering 345 $1M+ homes. These statistics, and the growing number of clients interested in the high-end luxury market in Summit County, leads us to anticipate huge growth as 2021 continues through the rest of the year.

Summit County continues to break real estate records. The total sales volume in the price point over $1 million for all areas of Summit County as of June 30th, 2021 was $641,467,458.00. The top 5 selling offices in the county sold 25% of that total. Breckenridge Associates Real Estate is the leading Summit County office at the $1M+ price point, selling a total of 55 properties totaling $139,113,450 in sales year to date.

For additional stats for Breckenridge and Summit County, please click here.

The agents at Breckenridge Associates continue to be the luxury market leader. If you want to sell a property in Summit County, you need an agent who can capitalize on the preferences of current buyers and offer them geographical expertise like only long-time local agents can do. Please call one of our agents today or stop by our Main Street office in the heart of Breckenridge to speak to an agent in person. (970) 453-2200. 

COMPARISON: 2020 AND 2021 REAL ESTATE SALES OF PROPERTIES OVER $1M

  •          2020 Total Sales Over $1 Million: $1.08 Billion
  •          2021 Total Sales Over $1 Million: (thru June): $641 Million
  •          2020 Number of Sales at or above $1 Million: 629
  •          2021 Number of Sales at or above $1 Million (thru June): 345

Sources: Summit Association of Realtors MLS


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