Priciest 2017 home sale for Summit County topped $6 million

January 24, 2018  •  2 Comments

The most expensive home sold in Summit County in 2017 went for $6.1 million. Closing in December, the sale was a fitting bookend for a year that's been described as an once-in-a-lifetime opportunity to sell a home.

On the flip side, 2017 also left many homebuyers in situations where they had to act and act fast to get the property they wanted. Likely, they also had to pay top dollar.

"It's all driven by supply and demand," said Jason Smith, president of the Summit Association of Realtors, a nonprofit group with 580 members.

"I would say buyers are seeing the value in Summit County real estate like they haven't seen it before," he continued, explaining that more people are wanting to own "a piece of Summit County" and it surprises him that more sellers didn't throw their homes into the ring last year.

With the U.S. economy expanding, more people have expendable income and are looking for ways to invest their money and raise their quality of life at the same time, Smith said.

Additionally, he thinks many people who have that extra money want to be in the mountains, and in addition to being the first real stop for skiing west of Denver, Summit County still offers great value compared to what's available in other Colorado resort towns, like Aspen or Vail.

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"You can spend less money on different areas," he said, "but they're impossible to get to."

More than the numbers, Smith said the growing desire to own property here, coupled with rising scarcity, is the real story of the 2017 real estate market.


Comments

eassypro(non-registered)
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Angel Cronin(non-registered)
I am glad to read this article.
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