December real estate sales in Summit County softened somewhat versus a year ago with unit volume falling 9% to $140 transactions. As has been typical this year, dollar volume comparisons were even worse, dropping 13% to $61.6 million. For the full year, transaction volume was actually up 10% to 1,448 sales but dollar volume slipped by 2% to $684.2 million.
For the year, average selling prices slipped in all categories. Single family home prices dropped to $734,262, down 4.7% from 2011 while the multi-family price dropped 14% to $367,280. Vacant land faired the worse with the average price down 26.8% to $246,478. Contributing to the declines was the decided shift toward the lower end of the market. For the year, 74.2 % of the residential transactions were for less than $600,000. Less than 10% were over $1 million.
While the magnitudes and trends varied based on type of property, in general the south end of the county (Breckenridge Blue River et al) held up better than Frisco, Silverthorne and Dillon.