August 2018 Market Analysis

Market Analysis by Area for August 2018: There were a total of 319 transactions and $235,727,859 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $780,910, average residential price was $800,792 and average residential PSF was $479.

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  • Year to Date Market Analysis ( 8 months): Monetary volume in YTD 2018 totaled $1,107,208,955 with 1607 transactions: $712,821 average transaction price, $741,398 average residential price and average residential PSF $465.
  • Market Snapshot for Years 2018 vs 2017:  Average Indicators for $: Single Family +4%, Multi- Family +9% and Vacant Land +17%. Median Indicators for Single Family +8%, Multi- Family +8% and Vacant Land +16%.
  • Market Analysis % Change 2018: Monetary volume ($) in August 2018 was up 38% from August 2017. Transactions (319) were up 17% from August 2017.  YTD 2018 monetary volume is up 13% from YTD 2017, and transactions are down 12% YTD 2018 compared to YTD 2017.
  • Residential Cost Analysis:  Residential volume in August had 250 transactions with $200,197,894 gross volume. There were 55 properties that sold for $1M and above in August. The most active price points were between $300K-$400K with 42 transactions. There were 95 Single Family, 155 Multi-Family and 20 Vacant Land transactions.
  • Average Price History by Type 2018: Average price for residential Single Family: $1,129,643, Multi- Family: $517,965 and Vacant Land: $377,561.
  • Comparative Historical Cost Analysis YTD 2018: There were 1273 residential transactions and $943,799,378 gross $ volume with 234 properties selling for $1M and over-compared to 2017, there were 1313 transactions and $883,914,045 gross $ volume, 208 properties at $1M and over.  In 2016, there were  1220 transactions with $683,932,493 gross $ volume, 121 properties at $1M and over. 
  • Top Lender Analysis August 2018: There were 542 loans in August 67% (215) of the loans were related to sales, there were 139 REFI's and 188 loans were timeshare related. 33% 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 August in the Timber Trail area at $4,500,000. The top priced PSF in the Shock Hill Landing area at $1,083.
  • Foreclosures:  There were 3 Foreclosure actions taken in August compared to 4 last August 2017. A total of 56 Foreclosure actions have been filed YTD, with 42 of those being Timeshares. 
  • Purchaser Profile Abstract:  There were 61 upper end sales in August compared to 38 in July. Our buyers for real estate transactions for 2018: Front Range demographic at 35% of our market, 30% are "local" and 35% are out of state buyers with 0% 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, which doubled in August with 40 compared to 20 in July.