September 2024 Real Estate Summary

Real Estate

Sep 5

Real estate summary provided Ben Broughton, Real Estate at Copper Mountain

August In Review

Last month saw 7 closed transactions, with 3 sales in the Village at Copper, 2 in the West Village, and 1 each in the Center and East Villages. Of particular note was a 3 bedroom Union Creek Townhomes West unit that closed at $2,390,000, which is a new record for the complex.

August also saw the days on market until sale jump dramatically to 95. This is actually a positive in my opinion as it represents the "Clearing out" of a few listings that had been sitting on the market. There was also a 2 bedroom in Passage Point which had been pending for several months due to a contingent sale that needed to occur first. Overall our market is in a good place heading in to the busiest time of the year for us.

One interesting thing I see this month is that 6 of the seven sales required at least one price drop in the MLS before finding a buyer. Our average list price to sales price remains steady at 97% (Decrease of 1%), so it's more important than ever to list the home appropriate to market conditions in order to find the right buyers.

august By the Numbers

Total Sales: 7
Average PPSF : $1,018
Average Days On Market: 95
Average Sales Price: $917,000

2024 By the Numbers

Total Sales: 33
Average PPSF : $1,019
Average Days On Market: 71
Average Sales Price: $1,090,000

Current Market Conditions

There are currently twenty non-deed restricted listings on the market today, two more than the last newsletter. The PPSF decreased $7 to $1032. The days on market increased 4 to 93, but historically this number doesn't really have a bearing on our active market.

There are 4 pending sale listings here at Copper. The Lewis Ranch home is still pending a closing, and the three new ones are a Mountain Plaza two bedroom, a Peregrine Lodge four bedroom, and a Passage Point one bedroom plus Den.