Your monthly real estate market update for January 2023 in Summit County, Colorado.
There were 72 new residential listings in January to kick off the year. This was pretty comparable to December
89 properties went Under Contract in January, which is up from December.
53 properties actually closed in January, which is quite a bit lower than December.
We are now have just around 230 active listings on the market, which is pretty low, but not unusual for this time of the year.
The median sales price in January in Summit County was $896,000 which was pretty comparable to the previous month.
The median list price to sales price ratio dropped to 97.00% which is the lowest we have seen it in a while.
The median days on market jumped up to 41 days.
The lowest list price to sales price ratio and the additional days on market would indicate that buyers had more power over the holiday season and possibly that we are shifting to a buyers market but with only 53 sales, this may just be a blip so we will watch this trend. Inventory is still so low that its hard to consider this a buyers market.
Now that the holidays have passed and interest rates are a bit lower than their peak, buyers may be entering the market again.
Even though there is very low inventory, buyers can still find some great properties.
Sellers, now could be a great time to list since there is very little competition.
