There has probably never been a better time to sell your Summit County property. But this doesn’t come without considerations. For instance, if you are a full time resident and want to stay here, I don’t recommend selling.

Finding a replacement in this competitive market is tough. If you do sell and have a large capital gain, you have to consider how it will play into your tax planning. Would you like to buy a replacement investment property (assuming your property is an investment), and where would be the best place to do so? Each person has their own unique considerations so schedule a time with me and we can talk through your best options.

Why is now the time to consider selling? Zillow economists predict that the spring 2022 housing market is going to spike by 22%! While not everyone shares this same prediction, Zillow continues to see demand greatly outpace supply that even rising interest rates won’t slow demand. While price growth will continue according to Zillow, it will slow mid year 2022.

From January 2017 to February 2022, the average price in Summit County went from $569,000 to $1,098,000, almost doubling! For anyone who purchased even a year ago, there is an amount of equity in your property that you can sell and still make money.

As I mentioned above, each person has their own individual considerations, so if you are thinking about selling, let’s talk through your situation!

Land Title Guaranty Company does a great job collecting data and has put together this amazing report comparing real estate sales and appreciation in mountain communities. You can also see the demographics of each area to recognize the number of local, Front Range, and out of state buyers/owners. 

In Summit County in 2021, there were 2868 sales. Of these, 650 (22.5%) were locals, 1,261 (44%) were from the Front Range, 953 (33%) were out of state, and 4 buyers were international. If you have any questions or want to discuss this further, of course reach out to me!