Average Mortgage Closing Costs Down 7.4% Over Past Year

In welcome news for the housing market, CNN Money recently reported that the average cost of closing on a mortgage has fallen by 7.4% over the past year. As an example, at the end of June, a home buyer in the United States looking to close on a $200,000 mortgage with 20% down paid an average of $3,754. That’s $300 less than 12 months earlier. Apparently, the decline can be attributed to new federal regulations, which require lenders to be more accurate when estimating closing costs for borrowers. Read the rest of the CNN Money article

Turning to mortgage news in Colorado, Bankrate.com conducted a nationwide survey in 2012 of mortgage closing costs. Looking at every state in the country, Bankrate.com found that Colorado had the third lowest average closing costs for home mortgages. Based once again on a $200,000 mortgage with 20% down, Colorado closing costs were generally $555 less than the national average, coming in at $3,199. Great news for anyone buying a home in our state!

If you’re interested in potentially getting into the Summit County real estate market, this is a great time to find bargains in homes that have been on the market all summer but haven’t quite sold yet. Please don’t hesitate to contact Philip with your questions.

Summit County Listings With Price Drops in Last 4 Days

(Arranged below by newest listing first)

Start of list of properties

Reduced by $65,000 Yesterday
29
22 Charter Ridge Court, #9
Breckenridge, CO 80424
$1.585m
For Sale
3
Beds
4
Baths
2,464
square feet,
Enjoy unobstructed mountain and ski area views from almost every room in this stunning 3 bed 3 1/2 bath duplex. Tastefully furnish... (more)
# S1044482
Coldwell Banker Mtn Properties
$1,585,000
For Sale
Residential
10 days on this site
Oct 1st, 1:00PM to 3:00PM
Open House Oct 1st
40
537 Moonstone Road
Breckenridge, CO 80424
$1.699m
For Sale
4
Beds
4
Baths
3,418
square feet,
Welcome to this exquisitely remodeled home nestled on a spacious, tree-filled 1/2 acre lot. Prepare to be captivated by the unpar... (more)
# S1044412
Homesmart
$1,699,000
For Sale
Residential
15 days on this site
Reduced by $72,000 2 days ago
39
94 High Meadow Drive
Dillon, CO 80435
$1.875m
For Sale
3
Beds
4
Baths
3,345
square feet,
Quality craftsmanship throughout this three bedroom single family home in Summerwood. Primary suite on the main level with a huge ... (more)
# S1044456
Slifer Smith & Frampton R.e.
$1,875,000
For Sale
Residential
15 days on this site
Reduced by $20,000 4 days ago
34
22714 Us Highway 6, #5982
Keystone, CO 80435
$795,000
For Sale
2
Beds
2
Baths
774
square feet,
Top floor condo at Hidden River Lodge. Vaulted ceilings give an airy feeling to this 2 bedroom / 2 bath condo. You can have the R... (more)
# S1044464
Colorado R.e. Summit County
$795,000
For Sale
Residential
17 days on this site
Oct 1st, 9:00AM to 12:00PM
Open House Oct 1st
31
10000 Ryan Gulch Road, #G-315
Silverthorne, CO 80498
$660,000
For Sale
3
Beds
3
Baths
1,254
square feet,
Welcome to your new home, offering an abundance of space, privacy, and a prime location! This exceptional 3 bed, 3 bath reside... (more)
# S1044376
Keller Williams Top Of Rockies
$660,000
For Sale
Residential
21 days on this site
Reduced by $11,600 2 days ago
12
96 Red Cloud Peak Road
Dillon, CO 80435
$209,900
For Sale
2
Beds
2
Baths
960
square feet,
Priced for local living! Well-maintained 10-year-old home offers freshly painted exterior, washer and dryer, wider than average ... (more)
# S1044343
Keller Williams Mountain Properties
$209,900
For Sale
Residential
27 days on this site
Reduced by $22,000 4 days ago
40
34 Highfield Trail, #104
Breckenridge, CO 80424
$455,000
For Sale
1
Beds
1
Baths
586
square feet,
This functional, garden-level unit is a great opportunity for the local buyers, and would also work well for a local business or... (more)
# S1044328
Coldwell Banker Mtn Properties
$455,000
For Sale
Residential
29 days on this site
Reduced by $165,000 3 days ago
38
8500 Ryan Gulch, #301
Silverthorne, CO 80498
$165,000
For Sale
3
Beds
2
Baths
1,008
square feet,
Owner financing available. Fully remodeled and perfectly furnished for style, comfort, and enjoyment. Amenity rich community in ... (more)
# S1044152
Row Realty
$165,000
For Sale
Residential
43 days on this site
Reduced by $50,000 2 days ago
40
5723 Us Highway 9
Breckenridge, CO 80424
$1.449m
For Sale
3
Beds
4
Baths
2,480
square feet,
One-of-a-kind mountain home only minutes outside of Breckenridge. Located in the town of Blue River, this home has no short-term ... (more)
# S1044025
Paffrath & Thomas R.e.s.c
$1,449,000
For Sale
Residential
49 days on this site
Reduced by $54,000 2 days ago
39
261 Alpen Rose Place, #8716
Keystone, CO 80435
$1.385m
For Sale
3
Beds
3
Baths
1,597
square feet,
Turn-Key - Move-In Ready - Right off the Resort Shuttle, Inhabit Mountain Living in Full Bloom in a Coveted Ski Tip Ranch Townhom... (more)
# S1044088
Bergman Realty Group
$1,385,000
For Sale
Residential
49 days on this site
Property listing data provided by Summit County multiple listing service. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. The sale offering is made subject to errors, omissions, change of price, prior sale or withdrawal without notice.
Listing Data last updated: 30th September, 2023 08:00 MST
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