Here is where you can find all the latest info on the Summit County, CO market from Anne of The Skinner Team. Including our market stats video series and information compiled by the Land Title Guarantee Company.
Please note that LandTitle 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 LandTitle as your source. You are welcome to utilize this link within your own websites.
MarketAnalysis by Area for August 2020: There were a total of 368 transactions ( the highest # of transactions since we have been tracking for the past 15 years!) and $293,252,195 in monetary volume ( which is also excellent!). The average transaction price for all 18 reported areas, plus Deed Restricted transactions was $807,194, average residential price was $901,820 and average residential PSF was $512.
YTD 2020 MarketAnalysis by Area (8 months): There were a total of 1297 transactions, and $1,022,803,402 in monetary volume. The average transaction price for all 18 reported areas was $809,521, average residential price was $865,477 and average residential PPF was $512.
Market Snapshot for FULL Years 2020 vs 2019: Average Indicators for $: Single Family 0% change, Multi- Family +7% and Vacant Land -12%. Median Indicators for Single Family 3%, Multi- Family +9% and Vacant Land -6%.
MarketAnalysis % Change YTD Year 2020: Monetary volume ($293,252,195) in August 2020 was up 23% from August 2019. Transactions (368) were up 41% from August 2019. YTD 2020 Monetary Volume is pacing now only 12% down from YTD 2019. YTD 2020 transactions are pacing now only 11% down to YTD 2019.
Residential Cost Analysis: Residential volume in August had 305 transactions with $275,055,180 gross volume. There were 86 properties that sold for $1M and above in August. There were 130 Single Family, 175 Multi-Family and 35 Vacant Land transactions.
Average Price History by Type- YTD Year 2020: Average price for residential Single Family: $1,258,617, Multi- Family: $599,621 and Vacant Land: $302,364.
Comparative Historical Cost Analysis Comparison YTD 2020-2019-2018: In 2020, there were 1051 residential transactions and $909,615,811 gross $ volume with 286 properties selling for over $1M. In 2019, there were 1142 transactions with $951,106,756 gross $ volume with 263 properties selling for over $1M. In 2018, there were 1273 transactions with $943,799,378 gross $ volume with 234 properties selling for over $1M.
Top Lender Analysis August 2020: There were 645 loans in August. 248 loans were related to sales. There were 299 REFI’s and 98 loans were timeshare related. 33% of the real estate closings were cash transactions.
Market Highlights: Please see page 11 of the MarketAnalysis– Note the the higher priced sale in August 2020 in the Timber Trail area in Breckenridge at $5,350,000.The top priced PSF was in the Shock Hill area at $1,139
Foreclosures: There were 8 foreclosure actions in August ( 6 were timeshares), compared to 2 in August 2019. There have been a total of 21 Foreclosure actions YTD 2020. There were no Bank sales in August.
Purchaser Profile Abstract: Upper end sales were significantly up in August with 87 compared to 57 in July. Our buyers for real estate transactions for August 2020: Front Range demographic at 51% of our market, 19% are “local” and 30% are out of state buyers with 0% International.
LandTitle New Development Summary: This (page 18) shows all the new construction each month, there were 13 in August
Due to some early snow fall and cooler overnight temps the Aspens are changing a bit earlier this year. But there is still plenty of time to enjoy the beautiful golden colors! (When traveling be sure to know the local public health orders and fire restrictions.)
With the 2020/2021 winter season approaching, the resorts in and around Summit County, CO are starting to present their plans. Though state and local public health orders may change the outline of what to expect this season is being formed. Learn more about each resort below:
Key features of all Resorts are social distancing, face coverings, and organized lift lines. Some are requiring reservations others are not. Some will sell day of tickets and others will prioritize season pass holders. Be sure to research which mountain you want to visit!