Hello from Breckenridge, Colorado!

What’s going on with foreclosures in Summit County? Are there more than ever, or fewer than there were?

Get the quick answer from our 1-minute video, or see the details below.

The short answer is: It appears that wave has crested, and is on the decline. The number of foreclosures in Summit County is down 50% vs last year at this time.

The chart below shows the number of properties that went into foreclosure in Summit County:

  • All property types (homes, condos, land, commercial, etc) are included except timeshares
  • In 2008, there were only 33 foreclosures, county-wide. In 2009: 47. Then a big jump to 104 in 2010, peaking at 145 foreclosures in 2011.
  • So far, through the end of May 2012, we’ve had 37, vs 74 from 1/1/11 to 5/31/11. So, we are at exactly half the number of foreclosures compared to last year at this time. Good news!
  • The number of REO (Real Estate Owned) bank sales is comparable – down about 50% vs last year
  • A number of factors could change this picture, but this is the current snapshot. We’ll keep you posted!

Screen Shot 2012-06-13 at 1.55.02 PM

The raw data for this chart was provided by Maggie Dew, the Business Development Officer for the Summit County branch of Stewart Title. You can reach her at (970) 393-2536. Thanks, Maggie!

So, now you know the story on foreclosures in Summit County. Believe it or not, we have even more data, so if you like market statistics, you know who to call!