We work every day in the trenches of the real estate market and feel like the market is slowing down and prices are dropping. But our data keeps showing that average prices are increasing. We looked at the data to determine why the average price is climbing when it feels like it should be dropping.

Here is our average sales price across Summit County residential sales over the last 3 years. Note: 2025 is through 9/30/25.

These charts show the average sale price over the last 4 years. They are broken down by the property type and within each chart they are broken down by the number of bedrooms.

Smaller SF homes have been pretty flat, while larger SF homes have had a steady increase each year.

Smaller Townhomes have been flat generally, while larger townhomes have seen an increase in the last two years, probably due to new construction luxury townhomes pulling up the prices.

Condos in general have been pretty flat with modest increases in the 2 and 3 bedroom segments.

So, in general smaller places are staying relatively flat, and some larger places are increasing in price.

Now, let’s look at the makeup of what is selling. We see that 2 bedroom condos are the most frequent property type each year (also the most units of inventory in Summit), and condos overall make up roughly half of the sales each year. SF homes make up around 30% of the sales each year.

But then, let’s look at sales volume (which factors number of sales and average price), and now we see that SF homes make up over half of the sales volume each year.

Despite our hunch that prices are dropping, almost every corner of the data shows prices increasing so far in 2025. There may be a lot of 2BR condos selling at flat levels compared to previous years, but that is not enough to counter balance the increases in the SF/4+ bedroom home prices. We have a hunch that new construction (18% of these sales were built after 2015) is propping up the pricing, enough to hide the price drops for properties that are not new.

We also know that inventory is higher than it has been in years.

Under contract properties remain steady with a nice uptick in September 2025!

For every one property that goes under contract, 5-6 do not. This is where the story of increasing prices is told. The best properties in the best locations, with the nicest finishes that show like model homes are the ones that are selling. Buyers will pay a premium for those properties. The 5.5 homes that didnt’ sell and are still sitting on the market may need work, may not be in a prime location, may have other issues, or just may have pet hair and dust everywhere, and buyers simply do not have to choose any property that is less than perfect.