County Monthly Market Snapshots
The Mountain Market: Summit County Insights
Let’s take a quick look at how 2020 ended in Ski Country, and what is happening as the new year gets under way.
Starting with appreciation - In 2020, residential property values in Summit County saw an average appreciation of almost 10% (9.9%). Mountain homes continue to be great investments, whether they’re a second home, or purely an investment/rental property.
The number of sold homes in 2020 went up 20% over the previous year, while the amount of new listings was down about 1.5%. Naturally, this means we are headed into 2021 with lower inventory than the previous year, down about 19%.
We will likely see another year of appreciation around 10% in Summit County, meaning this could be a great time to buy if you’ve been considering a second home in the mountains, or an investment property.