If you're already an owner in Summit County or Copper Mountain, you have nothing to complain or worry about. If you haven't yet made your purchase, I believe it's time to stop waiting...
1.) The average price in Summit County for all types of property (including timeshare/fractional) has increased by an average of 48% since January of 2005.
2.) In that same 3 year period your stocks have gained 24%, based on the Dow Jones Average opening price in January 2005 until the end of business in 2007.
3.) In 2007 alone, the Summit County real estate market increased by 16%, yet had 12% few transactions than the previous year due to a lack of inventory.
4.) Across the board in Summit County, average prices break down like this:
- Single-Family homes average is up 8% to $798,900.
- Multi-Family homes (condominiums) average is up 22% to $406,500.
- Vacant Land average is up 25% to $391,600.
5.) The average price across the real estate board in Copper Mountain is $386,000, which is up 7% over 2006 and up an amazing 60% since the 2004!
In summary, Summit County and Copper Mountain's real estate market has held up very well during some seamingly tough times throughout the United States. There are many reasons as to why; our lack of developable land, our buyers have REAL money to put down and good credit, a huge number of retiree's love this place and the number of retiree's in the next 15 years is not getting smaller and one of the biggest reasons is that burning desire to own/live in one of the most amazing places on earth! See you on the slopes...
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