We still have people who drive up from Denver thinking they can negotiate for a second home purchase here in Summit County. You see, the Denver Metro Area is still a relatively flat market. There are still deals to be had. Often, they do not want to believe our agents, or me, when we say that they could well lose a property that they are interested in if they try to lowball an offer or include too many contingencies. Recently, two of our buyers lost homes on the same day to other bidders. The properties went for substantially over the asking prices. One of our property listings just went under contract for several thousand dollars over asking price, and the offeror was the ONLY bidder. But, they did not want to take a chance of losing it. It makes no difference if you are looking in Breckenridge, Frisco, Dillon or Silverthorne. There is still more inventory in Keystone and Copper Mountain, so some negotiation may still be in order in those areas. Let me give you an idea of how the market has changed in one year. I compared sales figures through the third quarter of 2004 with the same period in 2005. Following are the percentage changes in each category. In Number of Active Listings (Inventory): Homes down 57%, Condos down 71%, Land Down 54% - Inventory overall down 61%. So, for every TEN properties we could have shown you in 2004, we only had 4 to show you in 2005. In Total Number of Sales: Home sales were up 238%, Condos up 118%, Land down 34% - Overall sales were up 36%. In Total Volume Sold: Homes up 39%, Condos up 29%, Land down 25%, Other (time shares, commercial) up 94% - Overall sales volume was up 44%. In Average Sales Price: Homes up 9% Condos up 10% and Land up 22%. This is not meant to scare anybody, but if you are coming to this market with the intent to buy, it helps being armed with the information necessary to get the property you want at the best price possible - even if that price is the asking price or more. =========================== Want to buy or sell a SnowHome in Summit County? Please visit our website. All the property listings are there. When you live or visit here, you will know "Snow Place Like Home". | 
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