Every time I open my home page (Yahoo), I can usually find an article that highlights the doom and gloom of the real estate market. Just today I read an article that some markets across the nation, like Phoenix, Las Vegas and Sacramento, can expect real estate prices to fall to 50% of their highest value. While I know that Summit County, and in particular Frisco, have not seen these numbers, I do recognize that we are experiencing a slow down. So, I crunched some numbers . . .
I compared sales from January through May for the last four years. Given the fact that the real estate market in many areas across the nation experienced dramatic decreases recently, I wanted to see if Frisco saw the same decrease. While Frisco has seen some decrease in the sales volume and number of transactions, the good news is that Frisco's market is holding up.
From January through May 2005, 73 residential transactions in Frisco totaled $28.9 million in sales. In 2006, the first five months of the year resulted in $35 million in sales and 73 transactions. In the first five months of 2007, $38.4 million in residential sales occurred with a total of 68 transactions. Finally, in 2008, $24.6 million in real estate sold with a total of 47 transactions.
Dollar volume in the first five months of 2008 is very comparable to the first five months of 2005. The number of transactions has decreased 30% from 2007 to 2008, from 68 to 47, the dollar amount decreased 36%. Frisco currently has 96 active residential listings and 9 pending. On June 1, 2007, Frisco had 108 active residential listings and 19 pending listings. The good news is that our inventory is low and properties are still selling. If you are a Seller, be sure to talk to a Realtor you trust. Pricing correctly will be the key to selling your property this summer. If you are Buyer, there are no steals here, but Summit County has plenty of types of properties - one will be sure to fit your needs perfectly.
The above subdivisions include some beautiful luxury residences in Frisco. If you are looking for more information or want to know about market conditions in Frisco or anywhere in Summit County, please contact me! I work hard to stay up to date on current market conditions and trends so I can provide you with the most accurate information. If you find yourself in Frisco, please stop by our offices at 111 Main Street, across the street from Historic Park.
Frisco Colorado real estate prices have appreciated dramatically in 2006 and 2007 with some types of properties almost doubling in value. In the last 2 years I have seen land prices more than double. Buyer demand for this quaint resort location has also increased in recent years as second home buyers look for a four season location with the typical Rocky Mountain activities like biking, hiking and skiing, coupled with a vibrant town.
Copper Mountain is one of Summit County's premier ski resorts. It is my favorite resort to ski because the choice of terrain is incredibly varied and the mountain is easy to navigate. You can send the beginners to Union Creek where the green runs have little slope and head on over to Resolution Bowl for double black diamond steeps and bumps. Owning at Copper allows you to wake up and walk to the slopes. No parking required! When you are not using your unit, you can rent it through a number of different property management companies.
Frisco, Colorado Main Street. It is a charming, quaint, and busy little enclave in the Rocky Mountains. Frisco Main Street has experienced new development in the last 5 years with new shops, restaurants and services complimenting the old tried and true businesses. Frisco has become popular in Summit County because it centrally located, close to I-70, with easy access to four world class ski resorts. Do you have questions about Frisco? I am a resident and involved community member of Frisco and would love to answer your questions about the community and our real estate.
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Landmark Real Estate Group, LLC is a boutique real estate firm with expertise in residential and commercial real estate.
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