April 2018 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 April 2018: There were a total of 207 transactions and $148,159,921 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $664,714, average residential price was $706,131 and average residential PPSF was $471.
- Year to Date Market Analysis ( 4 months): Monetary volume in YTD 2018 totaled $411,688,149 with 632 transactions: $664,714 average transaction price, $710,047 average residential price and average residential PPSF $461.
- Market Snapshot for Years 2018 vs 2017: Average Indicators for $: Single Family +1%, Multi- Family +11% and Vacant Land +15%. Median Indicators for Single Family +8%, Multi- Family +10% and Vacant Land +13%.
- Market Analysis % Change 2018: Monetary volume ($148,159,921) in April 2018 was up 30% from April 2017. Transactions (207) were up 10% from April 2017. YTD 2018 monetary volume is up 3% from YTD 2017, and transactions are up 2%. YTD 2018 compared to YTD 2017.
- Residential Cost Analysis: Residential volume in April had 162 transactions with $114,393,221 gross volume. There were 26 properties that sold for $1M and above in April. The most active price points were between $400K-$500K with 31 transactions. There were 49 Single Family, 113 Multi-Family and 18 Vacant Land transactions.
- Average Price History by Type 2018: Average price for residential Single Family: $1,097,001, Multi- Family: $524,262 and Vacant Land: $371,553.
- Comparative Historical Cost Analysis YTD 2018: There were 484 residential transactions and $343,662,784 gross $ volume with 80 properties selling for $1M and over-compared to 2017, there were 512 transactions and $352,089,998 gross $ volume, 95 properties at $1M and over. In 2016, there were 459 transactions with $268,033,677 gross $ volume, 46 properties at $1M and over.
- Top Lender Analysis April 2018: There were 486 loans in April, 64% (133) of the loans were related to sales, there were 103 REFI's and 250 loans were timeshare related. 36% of the real estate closings were cash transactions.
- Market Highlights: Please see page 11 of the Market Analysis- You can note the higher priced sale in April in Breckenridge Southside Estates. The highest priced transaction PPSF at $902 in Der Steiermark Condo in Breckenridge.
- Foreclosures: There were 12 Foreclosure actions in April 2018, 10 were Timeshares and 2 were Fee Simple.
- Purchaser Profile Abstract: There were 32 upper end sales in April. Our buyers for real estate transactions for 2018: Front Range demographic at 42% of our market, 29% are "local" and 29% are out of state buyers with 1% International. Please note a new page 17 comparing demographics of our buyers through 2013.
- Land Title New Development Summary: This (page 18) shows all the new construction each month, there were 11 in April.