Danielle discusses the latest real estate market trends for Summit County, CO for the month of August 2021.
Below is the market analysis report for the month of July. The market continues to be red hot with high prices, low inventory and high demand. In fact, there were 212 residential sales in July with $227,880,300 gross volume. Of those, 83 properties sold for $1M and above.
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 July 2021: There were a total of 246 transactions and $243,969,600 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,009,332, average residential price was $1,074,907 and average residential PSF was $675.
- Market Analysis by Area YTD 2021 (7 Months): There were a total of 1584 transactions totaling $1,516,081,326 in monetary volume. Average transaction price was $984,287 average residential price was $1,037,571 and average residential PPF was $640.
- Market Snapshot for FULL Years 2021 vs 2020: Average Indicators for $: Single Family +15%, Multi- Family +17% and Vacant Land +18%. Median Indicators for Single Family +15%, Multi- Family +15% and Vacant Land +26%.
- Market Analysis % Change YTD July 2021: Monetary volume in July 2021 was up 32% from July 2020. Transactions were up 6% from July 2020. YTD 2021 $ volume is pacing 108% up and transactions are up 71% from YTD 2020.
- Residential Cost Analysis: Residential volume in July had 212 transactions with $227,880,300 gross volume. There were 83 properties that sold for $1M and above in July. There were 80 Single Family, 132 Multi-Family and 15 Vacant Land transactions.
- Average Price History by Type-YTD 2021: Average price for residential Single Family: $1,600,866, Multi- Family: $707,888 and Vacant Land: $433,951.
Comparative Historical Cost Analysis Comparison 2021-2020-2019: YTD 2021, there were 1292 residential transactions and $1,340,541,744 gross $ volume with 439 properties selling for over $1M. In 2020, there were 746 transactions with $634,560,631 gross $ volume with 200 properties selling for over $1M. In 2019, 932 transactions with $761,000,456 gross $ volume with 209 properties selling for over $1M.
- Top Lender Analysis July 2021: There were 460 loans in July, 155 loans were related to sales, there were 237 REFI’s and 68 loans were timeshare related. 37% of the real estate closings were cash transactions.
- Market Highlights: Please see page 11 of the Market Analysis and note the higher priced sale in July 2021 in Breckenridge at $6,399,000. The top priced PSF was in Breckenridge, at $1,544.
- Purchaser Profile Abstract: There were 89 upper end sales in July 2021. Our buyers for real estate transactions for June 2021: Local buyers at 26%, with the Front Range demographic at 44% and 31% are out of state buyers with 0% International. There is a graph included showing demographic trends through 2013 on page 17.
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