Real estate sells at a brisk pace | SummitDaily.com
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Real estate sells at a brisk pace

SUMMIT COUNTY – Real estate sales for the first six months of 2004 totaled $339.5 million, compared to $217 million for the same period last year.Nearly 1,000 units sold in the period.A report on 2004 sales in the Sunday edition included incorrect figures for the first half of the year. The figures represented only June sales.Eric Degerberg, chairman for the Summit Association of Realtors’ Multiple Listing Service and managing broker at RE/MAX Properties of the Summit in Breckenridge, said the updated figures reflect a robust market in Summit County. “It’s up in dollars and volume in average and median prices,” Degerberg said. “I think it’s very healthy.”Sales of housing units jumped from 662 in the first six months of 2003 to 996 through June of this year, a 45.9 percent increase, according to figures provided by the Summit Association of Realtors. The average selling price of $351,400 represents a $23,500 increase over sales one year ago and a $26,100 increase over total sales in 2003. The number of lot sales through June increased nearly 73 percent compared to the first half of 2003. Dollar values for the market segment totaled $39.9 million for the period compared to $27.8 million last year, a 43.5 percent increase.Despite the volume increase, the average selling price for lots dropped 3 percent to $244,128 from $230,983 last year. Real estate officials credit increases in activity to low interest rates of about 6 percent for a traditional 30-year mortgage and 5.5 percent for a 15-year loan, plus a move by buyers away from the stock market and into resort real estate investments. Kim Marquis can be contacted at (970) 668-3998, ext. 249, or at kmarquis@summitdaily.com.


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