Summit County Real Estate Market Update – May 2025

As we ramp up toward our busy season in Summit County, we appear to be entering into a buyer’s market where buyers have more ability to negotiate because we have more supply than demand. This chart shows the supply (new listings) in blue and the demand (pending listings) in red and the difference in the grey line. The lower the grey line, the more a seller’s market. The higher the grey line, the more a buyer’s market.

Every year sees seasonality, and for the last 5 years we’ve seen the lowest supply in October and the highest supply in May or June. What makes this year seem different is a higher number of properties coming on the market with less buyer activity. June and July will tell the story of whether we are truly in a Buyer’s market or whether the sales will increase as we hit the height of summer in Summit County.

We are currently at 8 months of supply in Summit. Denver is at 4 months of supply, which is the highest we’ve seen since 2014. Nationally, the supply is at 4.4 months.

In May, there were a total of 131 residential sales in Summit County.

The average sales price was $1.20M, and the median sales price was $1.04M.

The average price is down 6% from last year, and the median price is up about 10% from last year, so the luxury properties are no longer propping up the average price.

We’re seeing about 1/3 of our listings have price drops with an average of a 7% drop.

The price per square foot is $877, up about 6.6% from last year.

Our Median days on market are hovering around one month, which indicates that properties are moving, but some properties are sitting longer which brought up the average days on market. This number is also comparatively low because so many new listings hit the market in May bringing down the average and median DOM.

When looking at our year to date statistics, we are seeing about 10% more sales than last January – May, but median prices are down about 5% overall.

We are seeing condo pricing holding steady, likely due to the new construction Brightwood at Keystone condos just closing last month.

Single family prices are down around 16%, and townhouses are down 28%.

So what does this all mean?

Buyers: We are seeing some price softening as well as room to negotiate on prices. Our higher priced single family properties and townhomes have more negotiation room. Our lower priced condos are seeing a lot more inventory, and price variability will depend on the project with newer condos holding value better than 40+ year old condos.

Sellers: Your properties need to stand out when they are listed or be priced competitively as buyers have more options to choose from. Fix and improve whatever you can before listing, and then price competitively to be one of the next sales.