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 $15,000 3 days ago
36
258 Cove Boulevard, #3
Dillon, CO 80435
$610,000
For Sale
2
Beds
2
Baths
1,020
square feet,
Fantastic location and floorplan in this beautifully maintained 2 bed/1.75 bath Lakeside Townhome in Summit Cove.Property is Deed ... (more)
# S1046524
Slifer Smith & Frampton R.e.
$610,000
For Sale
Residential
17 days on this site
Reduced by $100,000 today
40
1009 American Way
Breckenridge, CO 80424
$2.695m
For Sale
5
Beds
4
Baths
3,675
square feet,
If you have been in search of a One of a Kind then this is for you! Introducing 2 separate mountain retreats in the heart of Breck... (more)
# S1046408
Berkshire Hathaway Homeservices Colorado Propertie
$2,695,000
For Sale
Residential
35 days on this site
Reduced by $20,000 Yesterday
40
140 E La Bonte Street, #301
Dillon, CO 80435
$750,000
For Sale
2
Beds
2
Baths
1,020
square feet,
Top-level 2BR/2BA condo nestled in the sought-after Lake Cliffe complex, where the tranquil beauty of Lake Dillon meets the conve... (more)
# S1046174
Omni Real Estate
$750,000
For Sale
Residential
48 days on this site
Reduced by $17,786 Yesterday
36
22714 Us Highway 6, #5962
Keystone, CO 80435
$525,000
For Sale
3
Beds
2
Baths
851
square feet,
Great opportunity to purchase this well maintained three bedroom, two bathroom condo for below market value! Located at Hidden Ri... (more)
# S1046206
The Lloyd Group
$525,000
For Sale
Residential
65 days on this site
Reduced by $20,000 2 days ago
27
22080 Us Hwy 6, #1475
Keystone, CO 80435
$759,000
For Sale
1
Beds
2
Baths
929
square feet,
Welcome to your perfect investment opportunity! This oversized and beautifully remodeled one-bedroom, two-bathroom condo not only... (more)
# S1046157
Colorado R.e. Summit County
$759,000
For Sale
Residential
70 days on this site
Reduced by $50,000 Yesterday
28
22784 Us Highway 6, #2672
Keystone, CO 80435
$1.125m
For Sale
3
Beds
2
Baths
1,286
square feet,
Walk to the slopes! Available 2/29 for showings. Tenderfoot Lodge sits along the Snake River across from the Keystone Mountain Hou... (more)
# S1045047
Exp Realty LLC - Resort Experts
$1,125,000
For Sale
Residential
97 days on this site
Feb 24th, 10:00AM to 2:00PM
Open House Feb 24th
26
530 S French Street, #205
Breckenridge, CO 80424
$830,000
For Sale
2
Beds
2
Baths
962
square feet,
Your dream home is now available. Spacious two bedroom one level condo overlooking Carter Park. Watch the snow sledders inthe wint... (more)
# S1045043
Berkshire Hathaway Homeservices Colorado Real Esta
$830,000
For Sale
Residential
98 days on this site
Reduced by $13,223 4 days ago
40
32 Corinthian Circle, #102
Dillon, CO 80435
$845,777
For Sale
2
Beds
2
Baths
1,142
square feet,
Lake Dillon and The Ten Mile Range Views are what dream views are made of. This 2 bedroom, 2 bath condo is a first floor unit, ... (more)
# S1044789
Slifer Smith & Frampton R.e.
$845,777
For Sale
Residential
130 days on this site
Reduced by $96,000 4 days ago
39
107 N Pine Street
Breckenridge, CO 80424
$2.099m
For Sale
3
Beds
3
Baths
2,220
square feet,
Charming Mountain Retreat with terrific mountain views. Located in the extremely popular Weisshorn neighborhood, this cozy bungal... (more)
# S1044738
Breckenridge Associates R.e.
$2,099,000
For Sale
Residential
137 days on this site
Reduced by $29,500 4 days ago
33
910 Copper Road, #427
Copper Mountain, CO 80443
$969,000
For Sale
2
Beds
2
Baths
1,190
square feet,
$29, 500 PRICE REDUCTION for this ready to move in Center Village at Copper two bedroom "lock-off:" Home offers an oversized livi... (more)
# S1044468
Real Estate At Copper Mountain
$969,000
For Sale
Residential
163 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: 24th February, 2024 01:00 MST
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