Real estate sales up 30 percent |

Real estate sales up 30 percent

SUMMIT COUNTY – Real estate transactions hit an all-time record high in 2005, with dollar volume totaling $1,475,627,499.Real estate sales volume and transaction figures for 2005 were released this month by the Land Title Guarantee Company in Breckenridge, and were taken from recorded transactions at the Summit County clerk and recorder’s office.The figures represent a 31 percent increase from 2004, when transactions totaled $1,128,175,900.The number of transactions in 2005 totaled 3,699, which represents an increase of 14 percent over the 3,246 transactions recorded in 2004. According to Brooke Roberts, Land Title Guarantee Company director of sales and marketing, the figures do not include timeshare sales, but represent residential, commercial and vacant land transactions.Several factors might have played a part in the increased sales for 2005. Because of lower interest rates, a lot of homeowners refinanced their properties, and those transactions show up in the totals, Roberts said.But there still was a marked increase in real estate sales, with every month in 2005 showing an increase in dollar volume transactions over the previous year.”Interest rates have been affordable, so a lot of locals are jumping in,” Roberts said.As usual, Breckenridge saw the most activity, where 865 transactions were recorded. Keystone came in second with 485 transactions, and Frisco came in third with 353 transactions.In spite of the high numbers, Roberts said the market, like everything else, is dictated by supply and demand.”Listings have been limited this year, because we had an incredible snow year and second homeowners don’t want to sell when they’re renting like this,” she said.And while it’s too early to make any projections, Roberts said that last year’s figures indicate a positive outlook for the local real estate market. “Buying property here is a smart decision and an investment – it’s only going up,” she said. “And from the facts we’ve noted from recorded documents, trends continue to look optimistic for 2006.”

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