Breckenridge and Summit County Real Estate Trends

May 26, 2017

March 2017 Market Analysis


  • Market Analysis by Area for March 2017: There were 178 transactions and $123,142,000 in monetary volume. Some trends for all 18 reported areas in March: $713,812- Average transaction price, $753,769- Average residential price and $418-PPSF.
  • Year to Date Market Analysis (3 months): Monetary volume in 2017 totaled $286,195,674 with 432 transactions. $666,373-Average transaction price, $704,599-Average residential price and $423-PPSF. 
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +30%, Multi- Family +10% and Vacant Land +14%. Median Indicators for $: Single Family +45%, Multi- Family +7% and Vacant Land +16%.
  • Market Analysis % Change YTD 2017: Monetary volume ($123,142,000) in March 2017 was 43% higher than March 2016. Transactions were also up at 31% from March 2016.  YTD 2017, monetary volume is up by 32% and transactions are up 12% compared to YTD 2016. 
  • Residential Market Sales by Price Point: Residential volume in March had 137 transactions with $103,266,300 gross volume. There were 33 properties that sold for $1M and above in March. The most active price point was between $300K-400K with 22 transactions. There were 46 Single Family, 91 Multi-Family and 13 Vacant Land transactions in March.
  • Average Price History by Type 2017: Average price for residential Single Family: $1,213,507, Multi- Family: $449,052 and Vacant Land: $403,524.
  • Comparative Historical Cost Analysis 2017 YTD: There were 350 residential transactions and $246,609,560 gross $ volume with 70 properties selling for a $1M and over-compared to 2016, there were 323 transactions and $189,216,250 $ gross volume, 33 properties at $1M and over.  In 2015, there were 298 transactions with $159,956,800 $ gross volume, 28 properties at $1M and over. 
  • Top Lender Graph: There were 532 loans in March, 63% (113) of the loans were related to sales, there were 133 REFI's and 286 loans were timeshare related. 37% of the real estate closings were cash transactions. 
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in March in the Sunrise Point area, One Ski Hill place topped out the highest PPSF at $1,327. There were no bank sales in March.
  • Foreclosures: There were 7 Foreclosure actions in March, 4 of those being timeshares.
  • Purchaser Profile Abstract:  There were 38 upper end purchasers in March compared to 17 in February. Our buyers for real estate transactions in March were the Front Range demographic at 40% of our market, 29% are "local" and 30% are out of state buyers with barely 1% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 20 in March compared to12 in February.

Land Title Guarantee Company March 2017 Market Analysis

May 16, 2017

February 2017 Market Analysis


 

  • Market Analysis by Area for February 2017: There were 116 transactions and $71,152,600 in monetary volume. Some trends for all 18 reported areas in February: $644,610- Average transaction price, $642,609- Average residential price and $408-PPSF.
  • Year to Date Market Analysis (2 months): Monetary volume in 2017 totaled $163,053,674 with 254 transactions. $666,373-Average transaction price, $672,973-Average residential price and $426-PPSF. 
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +24%, Multi- Family +5% and Vacant Land +2%. Median Indicators for $: Single Family +16%, Multi- Family +5% and Vacant Land +3%.
  • Market Analysis % Change YTD 2017: Monetary volume ($71,152,600) in February 2017 was 6% higher at than February 2016. Transactions were down 8% from February 2016 due do the inventory supply. YTD 2017, monetary volume is up by 25% and transactions are up 2% compared to YTD 2016. 
  • Residential Market Sales by Price Point: Residential volume in February had 100 transactions with $64,260,900 gross volume. There were 14 properties that sold for $1M and above in February. The most active price point was between $200K-300K with 23 transactions. There were 30 Single Family, 70 Multi-Family and 5 Vacant Land transactions in February.
  • Average Price History by Type 2017: Average price for residential Single Family: $1,154,877, Multi- Family: $432,021 and Vacant Land: $360,583.
  • Comparative Historical Cost Analysis 2017: There were 213 residential transactions and $143,343,260 gross $ volume with 37 properties selling for a $1M and over-compared to 2016, there were 209 transactions and $114,550,350 $ gross volume, 19 properties at $1M and over.  In 2015, there were 187 transactions with $99,488,300 $ gross volume, 15 properties at $1M and over. 
  • Top Lender Graph: There were 400 loans in February, 63% (73) of the loans were related to sales, there were 138 REFI's and 189 loans were timeshare related. 37% of the real estate closings were cash transactions. 
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in February in the Timber Trail area, One Ski Hill place topped out the highest PPSF at $1,299. There were no bank sales in February.
  • Foreclosures: There were 5 Foreclosure actions in February.
  • Purchaser Profile Abstract:  There were 17 upper end purchasers in February compared to 25 in January. Our buyers for real estate transactions in February were the Front Range demographic at 45% of our market, 29% are "local" and 25% are out of state buyers with barely 1% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 13 in February compared to 11 in January.

Land Title Guarantee Company February 2017 Market Analysis

Posted in Market Updates
March 8, 2017

January 2017 Market Analysis

 

  • Market Analysis by Area for January 2017: There were 203 transactions and $122,880,919 in monetary volume. Some trends for all 18 reported areas in December: $621,604- Average transaction price, $670,122- Average residential price and $397-PPSF.
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +22% Multi- Family +10% and Vacant Land -15%. Median Indicators for $: Single Family +16%, Multi- Family 9% and Vacant Land -8%.
  • Market Analysis % Change YTD 2017 : Monetary volume ($91,901,074) in January 2017 was substantially higher at 45% compared to January 2016. Transactions (138) were only up by 11%. 
  • Residential Market Sales by Price Point: Residential volume in January had 113 transactions with $79,082,360 gross volume. There were 23 properties that sold for $1M and above in January. The most active price point was up a bit between $300K-400K with 19 transactions. There were 41 Single Family,72 Multi-Family and 7 Vacant Land transactions in January.
  • Average Price History by Type 2017: Average price for residential Single Family: $1.139,945 ( another milestone for the highest since Land Title has been tracking), Multi- Family: $449,231 and Vacant Land: $299,714.
  • Comparative Historical Cost Analysis 2017: There were again 113 residential transactions and $79,082,360 gross $ volume with 23 properties selling for a $1M and over-compared to 2016, there were 104 transactions and $55,534,150  $ gross volume, 9 properties at $1M and over and in 2015, there were 98 transactions with $56,210,600  $ gross volume, 12 properties at $1M and over. 
  • Top Lender Graph: There were 452 loans in January, 70% (96) of the loans were related to sales, there were 152 REFI's and 204 loans were timeshare related. 30% of the real estate closings were cash transactions. 
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in January in the Sawmill Patch Placer area, also for the highest PPSF. There were no bank sales in January.
  • Foreclosures: Down again, with only 2 actions in January, compared to 4 in January 2016. There with no PTD filings in January.
  • Purchaser Profile Abstract:  There were 25 upper end purchasers in January compared to 22 in December 2016. Our buyers for real estate transactions in January were the Front Range demographic at 33% of our market, 36% are "local" and 31% are out of state buyers with barely 1% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 11 in January compared to 16 in December 2016.

Land Title Guarantee Company January 2017 Market Analysis



 

Posted in Market Updates
Feb. 8, 2017

Mountain Resorts Market Analysis 2016 - 4th Quarter

Uptick Seen for Fourth Quarter for Real Estate Transactions

Land Title is a local company within Colorado and has been in business since 1967. To help partner with our customers and local communities, we'd like to share some valuable information on the real estate market in seven of our Colorado mountain communities of Aspen (Pitkin County), Breckenridge (Summit County), Steamboat Springs (Routt County), Glenwood Springs (Garfield County), Winter Park (Grand County), and Vail (Eagle County) and Telluride (San Miguel County).

2017 Fourth Quarter Highlights from the Seven Counties:

  • Buyer Profile: 48.6% local, 23.91% Front Range, 27.04% Out-Of-State, .45% international.
  • Three counties saw an increase in the number of transactions compared to last year's numbers. Garfield had the biggest increase with 13.53%.
  • Average residential price up in Eagle, Garfield, Grand and Summit counties. Top county was Garfield with a 17.36% increase in Q4 over 2015 Q4 numbers.
  • In gross volume sales, Garfield county saw the biggest increase at 13.53%

Mountain Resorts Q4 Analysis

 

  • Median Residential Price up 9.55% from Q4 LY numbers
  • Gross Sales Volume down 1.57% from LY numbers
  • Average Residential Price up 4.28% from Q4 LY numbers
  • Real Estate Transactions up 9.24% from Q4 LY numbers
  • Buyer Profile: 56.05% Local, 15.43% Front Range, 27.59% Out-of-State, .93% International

Eagle County December Analysis

 

  • Median Residential Price up 12.09% from Q4 LY numbers
  • Average Residential Price up 17.36% from Q4 LY numbers
  • Gross Sales Volume up 13.53% from LY numbers
  • Real Estate Transactions flat from Q4 LY numbers
  • Buyer Profile: 87.88% local, 3.75% Front Range, 8.31% Out-of-State, 0.06% international

Garfield County December Analysis

 

  • Median Residential Price up 39.41% from Q4 LY numbers
  • Average Residential Price up 11.03% from Q4 LY numbers
  • Gross Sales Volume up 10.6% from LY numbers
  • Real Estate Transactions up 2.99% from Q4 LY numbers
  • Buyer Profile: 27.23% local, 54.74% Front Range, 17.53% Out-of-State, 0% international

Grand County December Analysis

 

  • Median Residential Price down 1.14% from Q4 LY numbers
  • Average Residential Price down 10.37% from Q4 LY numbers
  • Gross Sales Volume down 31.94% from LY numbers
  • Real Estate Transactions down 4.35% from Q4 LY numbers
  • Buyer Profile: 54.2% local, 4.78% Front Range, 39.54% Out-of-State, 1.48% international

Pitkin County December Analysis

 

  • Median Residential Price down 8.31% from Q4 LY numbers
  • Average Residential Price down 11.44% from Q4 LY numbers
  • Gross Sales Volume down 0.75% from LY numbers
  • Real Estate Transactions up 6.29% Q4 LY numbers
  • Buyer Profile: 50.29% local, 15.85% Front Range, 33.59% Out-of-State, .26% International

Routt County December Analysis

 

  • Median Residential Price is up 10.61% from Q4 LY numbers
  • Average Residential Price down 4.08% from Q4 LY numbers
  • Gross Sales Volume down 2.48% from LY numbers
  • Real Estate Transactions are up 24.37% from Q4 LY numbers
  • Buyer Profile: 41.43% Local, 2.32% Front Range, 55.18% Out-of-State, 1.07% International

San Miguel County December Analysis

 

  • Median Residential Price up 9.07% from Q4 LY numbers
  • Average Residential Price up 10.01% from Q4 LY numbers
  • Gross Sales Volume up 2.61% from LY numbers
  • Real Estate Transactions down 4.05% from Q4 LY numbers
  • Buyer Profile: 30.37% local, 37.73% Front Range, 31.58% Out-of-State, 0.32% International

Summit County December Analysis

Dec. 14, 2016

November 2016 Market Analysis



Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source. You are welcome to utilize this link within your own websites.

  • Market Analysis by Area for November 2016: There were 268 transactions and $184,563,658 in monetary volume. Some trends for all 18 reported areas: $700,920- Average transaction price, $585,037- Average residential price and PPSF- $384.
  • Year to Date Market Analysis (11 months): Monetary volume was $1,285,785,881 with 2283 transactions. Average transaction price-$572,647 Average residential price-$572,008 and PPSF-$371.
  • Market Snapshot for Years 2016 vs 2015:  Average Indicators for $: Single Family +8%, Multi- Family +2% and Vacant Land -5%. Median Indicators for $: Single Family +9%, Multi- Family 5% and Vacant Land -2%.  
  • Market Analysis % Change YTD 2016 Data ( 11 months): Monetary volume ($184,563,658) in November was out the gate due to several larger Commercial Transactions, one in Copper, Inn at Keystone and Shell/Dunkin Donuts. Also, there were a lot of upper end Residential activity which accounted for a 68% increase with monetary volume from November 2015. Number of transactions (268) were also up 31% in November compared to November 2015. YTD 2016, monetary volume is pacing 4% compared to YTD 2015 and transactions continue to be fairly flat at 1%. Summit County continues to have extremely low inventory for Residential properties.
  • Residential Market Sales by Price Point: Residential volume in November had 229 transactions with $133,973,535 gross volume. There were 28 properties that sold for $1M and above in November. The most active price point was between $200K-300K with 44 transactions. There were 72 Single Family,157 Multi-Family and 10 Vacant Land transactions in November.
  • Average Price History by Type (11 months): Average price for residential Single Family: $922,163, Multi- Family: $407,513 and Vacant Land: $354,248.
  • Comparative Historical Cost Analysis ( 11 months): There were 1921 residential transactions and $1,098,827,441 volume with 203 properties selling for a $1M and over-compared to 2015, there were 1870 transactions and $1,027,115,318 gross volume, 182 properties at $1M and over and in 2014, there were 1588 transactions with $788,685,181 gross volume, 116 properties at $1M and over. 
  • Top Lender Graph: There were 659 loans in November, 70% of the loans were related to sales, there were 186 REFI's and 285 loans were timeshare related. 30% of the real estate closings were cash transactions. 
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in November in the Shock Hill Subdivision and in the Highlands area for highest PPSF. There were 2 bank sales in November.
  • Foreclosures: There were 6 Foreclosure actions in November, compared to 4 in November 2015. So far, this year, there have been a total of 44 Foreclosure actions filed.  
  • Purchaser Profile Abstract:  Upper end purchasers were up in November with 35, compared to 28 in October. Our buyers for real estate transactions were the Front Range demographic at 40% of our market, 26% are "local" and 34% are out of state buyers with 0% International. Check out page 15 with the Purchaser Detailed Profile for specifics on our Out of State buyers.
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 20 in November compared to 15 in October.

Land Title Guarantee Company November 2016 Market Analysis

Nov. 23, 2016

October 2016 Market Analysis


Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate. 

  • Market Analysis by Area for October 2016: There were 263 transactions and $149,691,558 in monetary volume. Some trends for all 18 reported areas: $576,374- Average transaction price, $577,190- Average residential price and $377- PPSF.
  • Year to Date Market Analysis (10 months): Monetary volume was $1,101,222,223 with 2015 transactions. Average transaction price-$555,873, Average residential price-$570,245 and PPSF-$369.
  • Market Snapshot for Years 2016 vs 2015:  Average Indicators for $: Single Family +7%, Multi- Family +2% and Vacant Land -11%. Median Indicators for $: Single Family +8%, Multi- Family 4% and Vacant Land -4%.  
  • Market Analysis % Change YTD 2016 Data ( 10 months): Monetary volume ($149,691,558) in October was down 5% compared to October 2015. Number of transactions (263) was down -7% in October compared to October 2015. YTD 2016, monetary volume is pacing  -2% compared to YTD 2015 and transactions continue that same trend at -2% compared to YTD 2016. Numbers are still ahead of previous years 2008 through 2014. There continues to be a shortage of inventory in Summit County.
  • Residential Market Sales by Price Point: Residential volume in October had 229 transactions with $132,176,428 gross volume. There were 25 properties that sold for $1M and above in October. The most active price point was between $200K-300K with 44 transactions. There were 70 Single Family, 159 Multi-Family and 11 Vacant Land transactions in October .
  • Comparative Historical Cost Analysis ( 10 months): There were 1692 residential transactions and $964,853,906 volume with 175 properties selling for a $1M and over-compared to 2015, there were 1691 transactions and $926,899,418 gross volume, 164 properties at $1M and over and in 2014, there were 1406 transactions with $702,683,981 gross volume, 106 properties at $1M and over. 
  • Average Price History by Type (10 months): Average price for residential Single Family: $919,210, Multi- Family: $405,776 and Vacant Land: $331,927.
  • Top Lender Graph: There were 549 loans in October, 72% of the loans were related to sales, there were 191 REFI's and 168 loans were timeshare related. 28% of the real estate closings were cash transactions. 
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in October in the Highlands area and a One Ski Hill Place for highest PPSF. There were 3 bank sales in October.
  • Foreclosures: There were 4 Foreclosure actions in October, compared to 2 in October 2015. So far, this year, there have been a total of 38 Foreclosure actions filed.  
  • Purchaser Profile Abstract:  Upper end purchasers totaled 28 in October. Our buyers for real estate transactions were the Front Range demographic at 37% of our market, 25% are "local" and 37% are out of state buyers  with 0% International. There is a new page 15 with the Purchaser Detailed Profile for specifics on our Out of State buyers.
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 15 in October.

Land Title Guarantee Company October 2016 Market Analysis

Oct. 31, 2016

September 2016 Market Analysis

 

September 2016 Market Analysis

Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.

  • Market Analysis by Area for September 2016: There were 297 transactions and $174,179,706 in monetary volume. Some trends for all 18 reported areas: $596,761- Average transaction price, $612,119- Average Residential price and $385- PPSF, all up from July and August 2016.
  • Year to Date Market Analysis (9 months): Monetary volume was $951,530,665 with 1752 transactions. Average transaction price-$552,761, Average residential price-$569,158 and PPSF-$368.
  • Market Snapshot for Years 2016 vs 2015:  Average Indicators for $: Single Family +8%, Multi- Family 0% and Vacant Land -10%. Median Indicators for $: Single Family +8%, Multi- Family 3% and Vacant Land -4%.  
  • Market Analysis % Change YTD 2016 Data ( 9 months): Monetary volume ($174,179,706) in September was up 5% compared to September 2015. Number of transactions (297) was fairly flat at -1% in September compared to September 2015. YTD 2016, monetary volume is pacing flat at -1% compared to YTD 2015 and transactions continue  that same trend at -1% compared to YTD 2016. There continues to be a shortage of inventory in Summit County.
  • Residential Market Sales by Price Point: Residential volume in September had 243 transactions with $148,744,985 gross volume. There were 29 properties that sold for $1M and above in September. The most active price points were up from the past few months. They were between the $400K-$500K (49) range. There were 87 Single Family, 156 Multi-Family and 16 Vacant Land transactions in September.
  • Comparative Historical Cost Analysis ( 9 months): There were 1463 residential transactions and $832,677,478 volume with 150 properties selling for a $1M and over-compared to 2015, there were 1438 transactions and $784,072,868 gross volume, 140 properties at $1M and over and in 2014, there were 1189 transactions with $598,246,081 gross volume, 91 properties at $1M and over. 
  • Average Price History by Type (9 months): Average price for residential Single Family: $922,641, Multi- Family: $400,798 and Vacant Land: $336,198.
  • Top Lender Graph: There were 648 loans in September, 70% of the loans were related to sales, there were 177 REFI's and 264 loans were timeshare related. 30% of the real estate closings were cash transactions. 
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in September in the Lewis Ranch area at Copper and a Waterhouse Condo for highest PPSF. There were no bank sales in September.
  • Foreclosures: There was only 1 foreclosure Fee Simple property in September.  
  • Purchaser Profile Abstract:  Upper end purchasers totaled 31 in September. Our buyers for real estate transactions were the Front Range demographic at 38% of our market, 26% are "local" and 36% are out of state buyers  with 0% International. There is a new page 15 with the Purchaser Detailed Profile for specifics on our Out of State buyers.
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 17 in September.

Land Title Guarantee Company September 2016 Market Analysis

Oct. 11, 2016

Mountain Resorts Market Analysis 2016 - 3rd Quarter

Mixed Results for Third Quarter for Real Estate Transactions

Land Title is a local company within Colorado and has been in business since 1967. To help partner with our customers and local communities, we'd like to share some valuable information on the real estate market in seven of our Colorado mountain communities of Aspen (Pitkin County), Breckenridge (Summit County), Steamboat Springs (Routt County), Glenwood Springs (Garfield County), Winter Park (Grand County), and Vail (Eagle County) and Telluride (San Miguel County).

2016 Third Quarter Highlights from the Seven Counties:

  • Buyer Profile: 50.44% local, 22.82% Front Range, 26.21% Out-Of-State, .53% international.
  • Four counties saw an increase in the number of transactions compared to last year's Q3 numbers. Grand had the biggest increase with 14.11%.
  • Average residential price up in Eagle, Grand, Routt, San Miguel and Summit counties. Top county was Routt with a 11.44% increase.
  • In gross volume sales, Grand county saw the biggest increase at 16.77%

Mountain Resorts Q3 Analysis

 

  • Median Residential Price up 7.84% from Q3 LY numbers
  • Gross Sales Volume down 9.38% from LY numbers
  • Average Residential Price up 6.08% from Q3 LY numbers
  • Real Estate Transactions down 8.13% from Q3 LY numbers
  • Buyer Profile: 57.09% Local, 14.95% Front Range, 26.92% Out-of-State, 1.04% International

Eagle County September Analysis

 

  • Median Residential Price up 6.32% from Q3 LY numbers
  • Average Residential Price down 2.31% from Q3 LY numbers
  • Gross Sales Volume up 11.28% from LY numbers
  • Real Estate Transactions up 3.91% from Q3 LY numbers
  • Buyer Profile: 88.93% local, 3.14% Front Range, 7.85% Out-of-State, 0.08% international

Garfield County September Analysis

 

  • Median Residential Price up 7.50% from Q3 LY numbers
  • Average Residential Price up 3.62% from Q3 LY numbers
  • Gross Sales Volume up 16.77% from LY numbers
  • Real Estate Transactions up 14.11% from Q3 LY numbers
  • Buyer Profile: 29.81% local, 52.11% Front Range, 18.07% Out-of-State, 0% international

Grand County September Analysis

 

  • Median Residential Price down 32.71% from Q3 LY numbers
  • Average Residential Price down 34.74% from Q3 LY numbers
  • Gross Sales Volume down 39.94% from LY numbers
  • Real Estate Transactions down 9.91% from Q3 LY numbers
  • Buyer Profile: 55.92% local, 5.34% Front Range, 36.89% Out-of-State, 1.86% international

Pitkin County September Analysis

 

  • Median Residential Price down 12.07% from Q3 LY numbers
  • Average Residential Price up 11.44% from Q3 LY numbers
  • Gross Sales Volume up 12.09% from LY numbers
  • Real Estate Transactions up 3.87% Q3 LY numbers
  • Buyer Profile: 51.8% local, 15.08% Front Range, 32.76% Out-of-State, .36% International

Routt County September Analysis

 

  • Median Residential Price is up 20.07% from Q3 LY numbers
  • Average Residential Price up 4.38% from Q3 LY numbers
  • Gross Sales Volume down 12.03% from LY numbers
  • Real Estate Transactions are down 14.10 from Q3 LY numbers
  • Buyer Profile: 42.5% Local, 2.0% Front Range, 54.25% Out-of-State, 1.25% International

San Miguel County September Analysis

 

  • Median Residential Price up 4.87% from Q3 LY numbers
  • Average Residential Price up 1.97% from Q2 LY numbers
  • Gross Sales Volume down 1.35% from LY numbers
  • Real Estate Transactions up 3.12% from Q3 LY numbers
  • Buyer Profile: 31.91% local, 37.1% Front Range, 30.59% Out-of-State, 0.40% International

Summit County September Analysis

Sept. 30, 2016

August 2016 Market Analysis

 

August 2016 Market Analysis

Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.

  • Market Analysis by Area for August 2016: There were 282 transactions and $139,223,249 in monetary volume. Average transaction price for all 18 reported areas: $501,250, Average residential price: $551,624 and PPSF: $367, all up from July 2016.
  • Year to Date Market Analysis (8 months): Monetary volume was $777,350,959 with 1455 transactions. Average transaction price: $543,855, Average residential price: $560,600 and PPSF: $365.
  • Market Snapshot for Years 2016 vs 2015:  Average Indicators for $: Single Family +9%, Multi- Family -3% and Vacant Land -6%. Median Indicators for $: Single Family +8%, Multi- Family -2% and Vacant Land -4%.  
  • Market Analysis % Change YTD 2016 Data ( 8 months): Monetary volume ($139.223,249) in August was down -2% compared to August 2015. Number of transactions (282) was up 6% in August compared to August 2015. YTD 2016, monetary volume is pacing flat at -3% compared to YTD 2015 and transactions continue  that same trend at -1% compared to YTD 2016. There continues to be a shortage of inventory in Summit County.
  • Residential Market Sales by Price Point: Residential volume in August had 228 transactions with $125,770,275 gross volume. There were 22 properties that sold for $1M and above in August. The most active price points were between the $200K-$300K (53) range this month. There were 70 Single Family, 158 Multi-Family and 18 Vacant Land transactions in August.
  • Comparative Historical Cost Analysis ( 8 months): There were 1220 residential transactions and $683,932,493 volume with 121 properties selling for a $1M and over-compared to 2015, there were 1184 transactions and $641,544,640 gross volume, 110 properties at $1M and over and in 2014, there were 953 transactions with $478,750,481 gross volume, 72 properties at $1M and over. 
  • Average Price History by Type (8 months): Average price for residential Single Family: $935,883, Multi- Family: $387,566 and Vacant Land: $349,468.
  • Top Lender Graph: There were 629 loans in August, 62% of the loans were related to sales, there were 180 REFI's and 273 loans were timeshare related. 38% of the real estate closings were cash transactions. 
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in August in the Highlands and One Ski Hill Place Condo for PPSF. There were 2 bank sales in August.
  • Foreclosures: There were 2 foreclosure actions in August 2016 compared to 7 in August 2015. 
  • Purchaser Profile Abstract:  Upper end purchasers totaled 21 in August. Our buyers for real estate transactions were the Front Range demographic at 44% of our market, 30% are "local" and 25% are out of state buyers  with 0% International. There is a new page 15 with the Purchaser Detailed Profile for specifics on our Out of State buyers.
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 19 in August.

Land Title Guarantee Company August 2016 Market Analysis

Aug. 31, 2016

July 2016 Market Analysis

 

July 2016 Market Analysis

Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.

  • Market Analysis by Area for July 2016: There were 215 transactions and $104,621,918 in monetary volume. Average transaction price for all 18 reported areas: $492,978, Average residential price, $513,101 average residential and PPSF at $361.
  • Year to Date Market Analysis (7 months): Monetary volume was $638,127,710 with 1173 transactions. Average transaction price: $554,196, Average residential price: $562,664 and PPSF: $364.
  • Market Snapshot for Years 2016 vs 2015:  Average Indicators for $: Single Family +10%, Multi- Family -3% and Vacant Land -6%. Median Indicators for $: Single Family +8%, Multi- Family -1% and Vacant Land -9%.  
  • Market Analysis % Change YTD 2016 Data (7 months): Monetary volume ($104,621,918) in July was down -11% compared to July 2015. Number of transactions (215) was up 6% in July compared to July 2015. YTD 2016, monetary volume down -3% compared to YTD 2015 and transactions are also down only -3% compared to YTD 2016. There continues to be a shortage of inventory in Summit County.
  • Residential Market Sales by Price Point: Residential volume in July had 176 transactions with $90,305,771 gross volume. There were 21 properties that sold for $1M and above in July. The most active price points were between the $200K-$400K (71) range this month. There were 45 Single Family, 131 Multi-Family and 18 Vacant Land transactions in July.
  • Comparative Historical Cost Analysis ( 7 months): There were 992 residential transactions and $558,162,218 volume with 99 properties selling for a $1M and over-compared to 2015, there were 959 transactions and $519,352,800 gross volume, 89 properties at $1M and over and in 2014, there were 782 transactions with $318,435,356 gross volume, 65 properties at $1M and over. 
  • Average Price History by Type (7 months): Average price for residential Single Family: $970,716, Multi- Family: $355,905 and Vacant Land: $365,083.
  • Top Lender Graph: There were 462 loans in July, 64% of the loans were related to sales, there were 137 REFI's and 187 loans were timeshare related. 36% of the real estate closings were cash transactions. 
  • Market Highlights: Please see page 10 of the Market Analysis-Higher priced sale in July (Shock Hill). There were no bank sales in July.
  • Foreclosures: There were 7 foreclosure actions in July 2016 compared to 12 in July 2015. There are only 29 foreclosure actions YTD.
  • Purchaser Profile Abstract:  Upper end purchasers totaled 22 in July. Our buyers for real estate transactions were the Front Range demographic at 34% of our market, 34% are "local" and 31% are out of state buyers (Check out the new section this month with the Out of State Buyer's breakdown on page 15!), with 1% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 9 in July.

Land Title Guarantee Company July 2016 Market Analysis