Category Archives: Martket Information

Mid-February 2022 Market Update

Here is where you can find all the latest info on the Summit County, CO market from Anne & Danielle of The Skinner Team. Including our market stats video series and information compiled by the Land Title Guarantee Company.

A Review of Mid-February 2022 Market Stats Info:

Archived Market Stats Videos


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 December 2021: There were a total of 183 transactions and $205,268,620 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,166,045, average residential price was $1,177,393 and average residential PSF was $704.
    • Market Analysis by Area YTD 2021 (12 Months): There were a total of 2868 transactions totaling $3,053,165,389 in monetary volume. Average transaction price was $1,090,082, average residential price was $1,117,682 and average residential PPF was $677.
    • Market Snapshot for FULL Years 2021 vs 2020:  Average Indicators for $: Single Family +24, Multi- Family +24% and Vacant Land +37%. Median Indicators for Single Family +21%, Multi- Family +22% and Vacant Land +38%.
    • Market Analysis % Change YTD December 2021 and Final 2021 Recap: Monetary volume in December 2021 was down 13% from December 2020. Transactions were down 35% from December 2020.  Final 2021 numbers, $ volume is 31% up and transactions are up 2% from full year 2020.
    • Residential Cost Analysis:  Residential volume in December had 148 transactions with $174,254,119 gross volume. There were 70 properties that sold for $1M and above in December. There were 59 Single Family, 89 Multi-Family and 14 Vacant Land transactions in December 2021. In 2021, there were a total of 895 Residential Single Family, 1459 Multi Family and 180 Vacant Land transactions.
    • Average Price History by Type- 2021: Average price for residential Single Family: $1,717,028, Multi- Family: $750,022 and Vacant Land: $504,480.
    • Comparative Historical Cost Analysis Comparison 2021-2020-2019: Full year 2021, there were 2,354 residential transactions and $2,631,022,363 gross $ volume with 887 properties selling for over $1M. In 2020, there were 2291 transactions with $2,069,655,256 gross $ volume with 658 properties selling for over $1M. In 2019, 1933 transactions with $1,586,910,706 gross $ volume with 454 properties selling for over $1M.
    • Top Lender Analysis December 2021 and Full Year 2021 There were 463 loans in December, 127 loans were related to sales, there were 227 REFI’s and 109 loans were timeshare related. Cash transactions made up 31% of real estate closings. In 2021, there were 7.016 loans, 1,917 loans were related to sales, there were 3,474 REFI”s and 1,625 loans related to timeshares. 33% of the real estate closings were cash transactions in 2021.
    • Foreclosure 2021 Update: The year of 2021 closed out with 63 total foreclosure actions – 56 of those were for timeshares.
    • Market Highlights:  Please see page 11 of the Market Analysis. Note the higher priced sale in December 2021 in Breckenridge at $5,250,000. The top priced PSF was in Breckenridge (One Ski Hill Place) at $1821.
    • Purchaser Profile Abstract:  There were 76 upper-end sales in December 2021 compared to 93 in November. Our buyers for real estate transactions for December 2021: Local buyers are at 23%, Front Range, 44% , Out of State ,33% and 0% International buyers. There is also a graph included showing demographic trends through 2013 on page 18.
  • Thank you for your continued loyalty to Land Title.

Please reach out with any questions.

Brooke Roberts

December 2021 Market Report 

January 2022 Market Stats Summary

Here is where you can find all the latest info on the Summit County, CO market from Anne & Danielle of The Skinner Team. Including our market stats video series and information compiled by the Land Title Guarantee Company.

A Review of January 2022 Market Stats Info:

Archived Market Stats Videos


 

 

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 2021: There were a total of 238 transactions and $286,148,104 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,167,089, average residential price was $1,248,038 and average residential PSF was $747.
  • Market Analysis by Area YTD 2021 (11 Months): There were a total of 2,685 transactions totaling $2,847,896,769 in monetary volume. Average transaction price was $1,084,960, average residential price was $1,113,676 and average residential PPF was $675.
  • Market Snapshot for FULL Years 2021 vs 2020:  Average Indicators for $: Single Family +24%, Multi- Family +23% and Vacant Land +28%. Median Indicators for Single Family +21%, Multi- Family +21% and Vacant Land +36%.
  • Market Analysis % Change YTD November 2021: Monetary volume in November 2021 was down 25% from November 2020. Transactions were down 40% from November 2020.  YTD 2021, $ volume is pacing 36% up and transactions are up 7% from YTD 2020.
  • Residential Cost Analysis:  Residential volume in November had 194 transactions with $242,119,336 gross volume. There were 89 properties that sold for $1M and above in November.  There were 84 Single Family, 110 Multi-Family and 12 Vacant Land transactions.
  • Average Price History by Type-YTD 2021: Average price for residential Single Family: $1,720,419, Multi- Family: $743,429 and Vacant Land: $473,558.
  • Comparative Historical Cost Analysis Comparison 2021-2020-2019: YTD 2021, there were 2206 residential transactions and $2,456,768,244 gross $ volume with 817 properties selling for over $1M. In 2020, there were 2054 transactions with $1,858,415,856 gross $ volume with 589 properties selling for over $1M. In 2019, 1741 transactions with $1,426,370,906 gross $ volume with 402 properties selling for over $1M.
  • Top Lender Analysis November 2021: There were 502 loans in November, 177 loans were related to sales, there were 218 REFI’s and 107 loans were timeshare related. 26% of the real estate closings were cash transactions.
  • Market Highlights:  Please see page 11 of the Market Analysis- Note the higher priced sale in November 2021 in Breckenridge (Four O’Clock Sub) at $5,750,000. The top priced PSF was in Breckenridge (One Ski Hill Place) at $1,742.
  • Purchaser Profile Abstract:  There were 98 upper end sales in November 2021 compared to 119 in October. Our buyers for real estate transactions for November 2021: Local buyers at 27%, with the Front Range demographic at 42% and 31% are out of state buyers with 0% International. There is also a graph included showing demographic trends through 2013 on page 17.

Thank you for your continued loyalty to Land Title.

Please reach out with any questions.

Brooke Roberts

November 2021 Market Report 

Strategies for Sellers to Defer Capital Gains Taxes

Strategies for Sellers to Defer Capital Gains Taxes
1031 Exchanges, Delaware Statutory Trusts & Opportunity Zones

Presented by The Skinner Team |KW Top of The Rockies

This information may be advantageous for you when it comes time to sell your investment property. Each of these strategies outlined below can be great options to defer or potentially dissolve the capital gains tax you might incur from selling a property. A 1031 is the most common thing sellers do to help defer capital gains, however, there are two additional options within a 1031 that are not widely known but are also excellent strategies you may want to consider. 

IRC Section 1031

Section 1031 of the Internal Revenue Code (IRC) allows a taxpayer who owns property held for investment or used in a business to sell a property and defer paying capital gain taxes and depreciation recapture taxes if the taxpayer purchases a “like-kind” replacement property. 

What are the benefits of a1031 exchange?
A 1031 exchange can be a great tool if the owner wants to:

  • leverage into a more valuable property
  • purchase a property with better cash flow
  • diversify into other properties
  • consolidate into one larger replacement property

What is like-kind property?
Like-kind property can include, but is not limited to, virtually any type of real property, provided it is held for investment or used as a business:

  • single-family long term or short term rental
  • multifamily rentals
  • industrial or commercial property
  • land 

How much time do I have to execute a 1031 exchange?
Timelines become important went executing a 1031 exchange

  • Taxpayers must identify the potential replacement properties (usually 3 although in some situations it may be more) within 45 days from closing on the sale of the relinquished property
  • Taxpayers have 180 days between the sale of the relinquished property and the closing of one of the identified replacement properties

Keep in mind, paramount to any exchange is a competent and experienced qualified intermediary. Not following the proper rules or not using a qualified intermediary can invalidate an exchange. You will need to have your intermediary lined up before you sell!

For more information on 1031 Exchanges:

Delaware Statutory Trust

One option within a 1031, especially if you no longer wish to be a landlord or are unable to find a suitable replacement property, is to do a 1031 exchange into a Delaware Statutory Trust (DST). You would need to identify a trust as one of your replacement options and then you would move your funds into the trust of your choice.

What is a DST and who can utilize it?

A DST is a type of trust formed under Delaware law. A DST allows investors to own undivided fractional ownership interests in professionally managed institutional grade real estate offerings around the United States. A DST creates an indirect way of owning investment real estate. 

The types of real estate owned by a DST may include:

  • Class A multi-family apartments
  • Medical buildings or Hospitals
  • Distribution centers
  • Manufactured home communities
  • Senior Living
  • Student Living
  • Storage portfolios

What are the advantages of DSTs?

  • Smaller minimum investment and access to ownership of high-grade commercial properties that would be otherwise difficult to acquire individually
  • Passive ownership with no day-to-day headaches of typical real estate ownership
  • The trust is not considered a taxable entity and, therefore, all the profits, losses, etc. are passed through directly to the investors
  • Investors participate in depreciation and amortization in the same way an investor who owned a 100% ownership interest in his or her own real property would
  • Can be utilized on your list of 1031 identified properties as a backup to ensure all the proceeds from the sale of the relinquished property achieve full tax deferral

For more information on Delaware Statutory Trusts:

https://apiexchange.com/delaware-statutory-trust-dst/

The top 10 reasons investors are jumping into DSTs:

https://www.kiplinger.com/real-estate/real-estate-investing/602456/top-10-reasons-real-estate-investors-are-jumping-into-dsts

Opportunity Zone Investments

A further option is to invest into an opportunity zone. An opportunity zone essentially lets you dissolve most or sometimes even all of your capital gains. There are two ways to accomplish this, either purchase a property in an opportunity zone or buy into a DST type fund that owns in opportunity zones.

What is an Opportunity Zone?

The federal government designates some disadvantaged communities as opportunity zones. Through the 2017 Tax Cuts and Jobs Act, opportunity zone tax benefits were created. The goal of these incentives is to encourage long-term investments in low-income neighborhoods through private investment. With these tax incentives in place, the federal government hopes to create an opportunity for investors while pushing more possibilities into disadvantaged communities. Through opportunity zones and opportunity funds, which are the investment vehicle, investors can take advantage of tax benefits as a reward for tackling investments in low-income neighborhoods.

What are the benefits of Opportunity Zones?

  • Tax deferral from capital gains taxes
  • Investors who chooses to invest in an opportunity fund will receive a 10% step-up basis after 5 years of investing in the fund before 2026***
  • After 10 years, tax deferred becomes tax free, creating a great option for long-term investors***
  • There are over 8,000 Opportunity Zones (however, it’s important to do your research on which makes the most sense for you)
  • You have the have the opportunity to purchase either a property directly in a qualified Opportunity Zone or purchase into a Opportunity Zone Fund (much like a DST)

*** Maximum benefits will be determined based on when you purchase into an opportunity zone.

Learn more about opportunity zones:

Are opportunity zones for you? 5 Questions to ask yourself:

Are Opportunity Zones for You? 5 Questions to Ask | Kiplinger

 

Don’t hesitate to reach out if you have any questions!

Anne Skinner, SASRSPSCNE
Lead Broker
Keller Williams Top of the Rockies Realty
605 Main St, #103
Frisco, CO 80443

Life at Altitude – February 2022

Life at Altitude with Danielle Connor
February 2022

Second Home & High-Balance Loan Changes & What This Means For Our Market

I was going to write a “February Fun” post about winter home care tips and enjoying Summit in the Snow- that is until Lender Letter(LL-2022-01) came out on January 5th. This piece of (electronic) paper rocked the lending industry and is going to mean big changes for Buyers who are financing as soon as this month (February). So, just as brokers and lenders are shifting gears, I made the decision to do so as well. Read on to find out what’s coming down the Fannie & Freddie pipeline!

Loan-Level Price Adjustments (LLPAs)

It’s important to know what a Loan Level Price Adjustment is. Fannie Mae & Freddie Mac realized they were undercapitalized and overexposed a little too late in 2008 when the housing market collapsed. Since then, they’ve worked to assess their risk in lending and to adjust the cost of lending accordingly, hence LLPAs which now determine a borrower’s mortgage rate. Loans considered more risky, such as condos, second homes and investments, have higher interest rates than safer investments such as primary residences. It is important to note that LLPAs don’t apply to FHA, USDA, or VA loans. 

What’s Changing?

A glimmer of good news first: for those seeking affordable housing, Fannie & Freddie will no longer charge a high-balance LLPA for loans to first-time homebuyers with income less than or equal to 100% of area median income. This will continue to ensure the existing beneficial pricing treatment of programs like HomeReady, Home Possible, HFA Preferred, and HFA Advantage. 

And, the news you’ve been waiting for- pricing for second homes and high-balance loans is being revised for loans purchased on or after April 1, 2022. This revision will affect all lenders, credit unions, and mortgage brokers offering conventional loan products. Upfront fees for high balance loans will increase between 0.25 percent and 1.0 percent, tiered by loan-to-value ratio, and for second home loans, upfront fees will increase between 1.125 percent and 3.875 percent, again tiered by loan-to-value ratio. 

What This Means for Buyers

Starting sometime in February (because of the timeline in which real estate transactions close), the cost of obtaining your second home or high-balance loan can go up pretty substantially. A high-balance loan is one whose Loan-to-Value exceeds the current Conventional Loan Limit.

The  increase means that for borrowers to get the current market rate, which is already up to 3.75%, lenders will have to charge a second home buyer 3.375 points (an additional $3,375 for every $100,000 borrowed) for a loan with 20% down/80% financing.  If the loan then exceeds the Fannie Mae Conventional loan limit ($647,000) and is a Fannie Mae High Balance Loan, say $750,000, the High Balance LLPA also kicks in – up to 1.00%.  Therefore, the additional cost to obtain this mortgage would be 4.375 points, or $750,000 x 4.375% = $32,812 in extra/additional cost to get the market rate. 

Since we are already seeing rate increases, how far does a buyer’s money go with a loan at 3.5% interest versus a loan at 4.5% interest? In our example above, on a $750,000 home with 25% down, P&I goes from $3,300/ month to $3,800/ month, which is a $500 gap. For many buyers, this is the difference between being able to find a mountain retreat that they’re able to afford, and will likely discourage those buyers from even trying to enter the market.

What’s Next in Lending?

Local banks and credit unions are certainly going to try to take this opportunity to create portfolio loans which will offset closing costs for borrowers by charging a higher interest rate and lower points. Since portfolio loans stay in-house, rather than selling the loan onto the secondary mortgage market, the costs of lending associated with conventional loans won’t come into play, which is what will allow banks to do that. Buyers could benefit hugely from this. In the example above, a portfolio loan of an interest rate of 4% with 2.5 points instead of 3.75% and 4.375 points would be $18,750- a savings of about $14,000!

As for mortgage brokers? They are likely already working with their many lending institutions to navigate which loan products will be available that will help them stay competitive in our mountain market chock-full of second homes and investments. Nothing is set in stone yet, and I’m curious to see what becomes available- stay tuned!

Market Stats Update for Mid January 2022

Danielle Connor updates us on the latest real estate trends for the first half of January for 2022:

Danielle’s Blog post she references in this segment: Life at Altitude with Danielle – 2021 Market Trends & Looking into 2022 in the High Country

Archived Market Stats Videos

 


 

 

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 2021: There were a total of 238 transactions and $286,148,104 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,167,089, average residential price was $1,248,038 and average residential PSF was $747.
  • Market Analysis by Area YTD 2021 (11 Months): There were a total of 2,685 transactions totaling $2,847,896,769 in monetary volume. Average transaction price was $1,084,960, average residential price was $1,113,676 and average residential PPF was $675.
  • Market Snapshot for FULL Years 2021 vs 2020:  Average Indicators for $: Single Family +24%, Multi- Family +23% and Vacant Land +28%. Median Indicators for Single Family +21%, Multi- Family +21% and Vacant Land +36%.
  • Market Analysis % Change YTD November 2021: Monetary volume in November 2021 was down 25% from November 2020. Transactions were down 40% from November 2020.  YTD 2021, $ volume is pacing 36% up and transactions are up 7% from YTD 2020.
  • Residential Cost Analysis:  Residential volume in November had 194 transactions with $242,119,336 gross volume. There were 89 properties that sold for $1M and above in November.  There were 84 Single Family, 110 Multi-Family and 12 Vacant Land transactions.
  • Average Price History by Type-YTD 2021: Average price for residential Single Family: $1,720,419, Multi- Family: $743,429 and Vacant Land: $473,558.
  • Comparative Historical Cost Analysis Comparison 2021-2020-2019: YTD 2021, there were 2206 residential transactions and $2,456,768,244 gross $ volume with 817 properties selling for over $1M. In 2020, there were 2054 transactions with $1,858,415,856 gross $ volume with 589 properties selling for over $1M. In 2019, 1741 transactions with $1,426,370,906 gross $ volume with 402 properties selling for over $1M.
  • Top Lender Analysis November 2021: There were 502 loans in November, 177 loans were related to sales, there were 218 REFI’s and 107 loans were timeshare related. 26% of the real estate closings were cash transactions.
  • Market Highlights:  Please see page 11 of the Market Analysis- Note the higher priced sale in November 2021 in Breckenridge (Four O’Clock Sub) at $5,750,000. The top priced PSF was in Breckenridge (One Ski Hill Place) at $1,742.
  • Purchaser Profile Abstract:  There were 98 upper end sales in November 2021 compared to 119 in October. Our buyers for real estate transactions for November 2021: Local buyers at 27%, with the Front Range demographic at 42% and 31% are out of state buyers with 0% International. There is also a graph included showing demographic trends through 2013 on page 17.

Thank you for your continued loyalty to Land Title.

Please reach out with any questions.

Brooke Roberts

November 2021 Market Report 

Life at Altitude – January 2022

Life at Altitude with Danielle Connor
January 2022
2021 Market Trends & Looking into 2022 in the High Country

In 2021, we saw pandemic changes easing and lifting- a weight off all our shoulders! Here in Colorado, remaining COVID restrictions were lifted at the end of May. It was then that we finally  got to experience so many good things again- concerts, farmer’s markets, weddings, graduations, and all of the beautiful ways we celebrate life. Many people even started to return to work in some sort of hybrid fashion, and kids returned to school. As COVID rates continue to rise and fall, I know we will do our best to grow and adapt together and to support one another. 2022 is upon us, and I can’t wait to see what it brings!

2021 Market Trends

We saw the market really heat up by the end of 2020 and this not only continued but accelerated into 2021. The housing market here strengthened month after month, and was exciting whether you bought a home, sold a home, or watched from the sidelines. Historically low mortgage rates kept buyers motivated, despite an ultra-competitive market where homes would go under contract as fast as they came on. 

Summit County’s residential market never saw inventory rise above 250 listings at one time, and dwindled throughout the year, falling below 100 active listings in October. The median list price in December of 2020 was $677.5k, then up to $775k to start off 2021, and the year ended over $900k. That’s greater than a 30% increase! On average, homes sold at 100% of list price all year long, though we definitely saw many sales at 5, 10, and 20% over!! Summit County saw its highest ever home sale in June at $17 million, and in July, over one third of residential home sales were over $1 million.

We saw tremendous year-over-year appreciation rates in all of our other service areas as well- Eagle County at 23% YOY with a median price of $1 million, Park County at 32% YOY with a median price of $500k, Lake County at 29% YOY with a median price of $465k, and Grand County at 22% YOY with a median price of $650k. 

 

A housing crisis was declared in July, calling on the local  governments to brainstorm strategies to address it, and opened the door for funding from the state via the American Rescue Plan Act. In tandem with addressing the housing crisis, the County and some of the city/town governments began talks of amending Short Term Rental Regulations and in Q3, there was even a moratorium put in place for a time on Summit County zoned properties. The uncertainty of what was going to change gave the market a bit of a breather, but that only lasted for about a month tops and then it got rolling again! Breckenridge and unincorporated Summit County have already imposed new regulations- click HERE to for our team’s resource on  the most up to date information on STR changes.

2022 Market Forecast

Summit County’s housing market continues to prove its resilience, and I am excited to see what 2022 brings. This world-renowned resort area draws people from all over, whether for vacation, for a season, or to live. In a county that’s landlocked with little room for expansion, we continue to work with limited inventory, resulting in amazing year-over-year appreciation for homeowners and a market that is always competitive. It also means that there is never a bad time to buy or sell in the mountains, and we haven’t seen a peak in pricing yet!

Low inventory will continue to drive sales prices up, and I imagine we will see the median close to $1.03 million (a 15% increase) by December based on expert predictions for the coming year. It’s likely that the highest volume of inventory will be on the market May-September based on historical trends, with the highest months being May, June and July. Expect very little to come on the market at the end of the year. Inflation increases have meant increases to nightly rental rates meaning many sellers may opt not to sell and take advantage of stronger rental rates. Expect this to contribute to low inventory in 2022.

The outlook will stay golden for Sellers!  Now that Summit County and its cities have finalized STR changes and we have not experienced any more COVID restrictions related to real estate, buyers are more confident in purchasing. Low inventory plus high demand means that we will likely continue to see multiple offer situations and rapid home sales at and above list price.

What will the market hold for Buyers in Summit County in 2022? For investors, there really isn’t a bad time to buy in the mountains. As mentioned above, resort communities will continue to draw people in. Whether for short-term housing or for long-term, investors are important, and they will thrive here. It should be noted that investors will receive the best return on equity growth rather than rental revenue. Buyers of condos should be aware of changes to Fannie and Freddie guidelines being implemented this year that will impact the eligibility of condo projects. These specifically relate to maintenance, deferred maintenance, safety or structural integrity, and financial reserves. It will be more imperative than ever for Buyers to do their due diligence when it comes to reviewing Association documents and work with an informed lender. Fannie and Freddie will also begin working to limit their buying of 2nd home loans and tightening lending on condominiums which may further impact rates specifically for those buyers. 

First time homebuyers and buyers of primary residences will likely face the same challenges here in Summit that buyers across the country are experiencing. Experts predict rising rents and home prices that rise faster than wages, making affordability a challenge along with one other big change- climbing mortgage interest rates with current rates of 3.25% – 3.5% rising to potentially  4% or more by Q4 2022.  On a $500k home, this is an increase of about $100 – $150 / month.

Why are rates rising? The federal government plans to taper bond buying beginning in March. They began buying bonds to support the price of bonds by adding demand in the bond market. The long and short of it are that when the Fed is buying bonds, there is lots of demand which keeps rates low. When they stop buying, demand will be diminished and higher returns (and in turn, higher rates) will be needed to sell those same bonds.

The average DOM is hovering around 10 today (1/3/2021 as I write this), down from 17 in December of 2020. Because of interest rate increases, we will likely see the same number (or more) days on market in 2022. Because the expansion of working from home has put pressure on the market with people wanting to take advantage of their new lifestyles, we expect the DOM will stay close to the same. 

Where will the most cost effective areas for buying a home be? Since deed-restricted communities are limited, the local workforce and many first time homebuyers in the mountains will find that surrounding communities will be great places to buy and to rent- think Leadville, Kremmling, Alma & Fairplay. Buyers may also start to get creative and look at purchasing homes with the option of an accessory dwelling unit to supplement their mortgage payment. Please reach out to us if you’d like to learn more- Happy 2022! 

 

Market Stats October 2021 Summary

Here is where you can find all the latest info on the Summit County, CO market from Anne & Danielle of The Skinner Team. Including our market stats video series and information compiled by the Land Title Guarantee Company.

A Review of October 2021 Market Stats Info:

Archived Market Stats Videos


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 September 2021: There were a total of 276 transactions and $308,991,831 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,145,656, average residential price was $1,180,934 and average residential PSF was $700.
  • Market Analysis by Area YTD 2021 (9 Months): There were a total of 2122 transactions totaling $2,129,251,016 in monetary volume. Average transaction price was $1,032,169, average residential price was $1,077,422 and average residential PPF was $655.
  • Market Snapshot for FULL Years 2021 vs 2020: Average Indicators for $: Single Family +20%, Multi- Family +19% and Vacant Land +7%. Median Indicators for Single Family +17%, Multi- Family +17% and Vacant Land +26%.
  • Market Analysis % Change YTD September 2021: Monetary volume in September 2021 was down 10% from September 2020. Transactions were down 28% from September 2020. YTD 2021 $ volume is pacing 56% up and transactions are up 26% from YTD 2020.
  • Residential Cost Analysis: Residential volume in September had 226 transactions with $266,891,113 gross volume. There were 89 properties that sold for $1M and above in September. There were 89 Single Family, 137 Multi-Family and 15 Vacant Land transactions.
  • Average Price History by Type-YTD 2021: Average price for residential Single Family: $1,664,382, Multi- Family: $723,298 and Vacant Land: $467,073.
  • Comparative Historical Cost Analysis Comparison 2021-2020-2019: YTD 2021, there were 1738 residential transactions and $1,872,560,157 gross $ volume with 617 properties selling for over $1M. In 2020, there were 1361 transactions with $1,219,986,346 gross $ volume with 393 properties selling for over $1M. In 2019, 1342 transactions with $1,119,758,156 gross $ volume with 312 properties selling for over $1M.
  • Top Lender Analysis September 2021: There were 650 loans in September, 182 loans were related to sales, there were 318 REFI’s and 150 loans were timeshare related. Cash transactions made up 34% of the real estate closings.
  • Market Highlights: Please see page 11 of the Market Analysis- Note the higher priced sale in September 2021 in Breckenridge (Shock Hill) at $5,750,000. The top priced PSF was in Breckenridge (One Ski Hill Place) at $1,515.
  • Purchaser Profile Abstract: There were 99 upper end sales in September 2021 compared to 101 in August. Our buyers for real estate transactions for September 2021: Local buyers at 20%, with the Front Range demographic at 42% and 38% are out of state buyers with 0% International. There is a graph included showing demographic trends through 2013 on page 17.

Thank you for your continued loyalty to Land Title.

Please reach out with any questions.

Brooke Roberts

September 2021 Market Analysis

Mid-August 2021 Market Stats Update

Here is where you can find all the latest info on the Summit County, CO market from Anne & Danielle of The Skinner Team. Including our market stats video series and information compiled by the Land Title Guarantee Company.

A Review of Mid-August 2021 Market Stats Info:


Archived Market Stats Videos


Below is the market analysis report for the month of June. The market continues to be unique with high prices (there were 77 properties that sold for $1M and above in June), low inventory and high demand. 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 June 2021: There were a total of 285 transactions and $296,954,321 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,071,749, average residential price was $1,042,381 and average residential PSF was $679.
  • Market Analysis by Area YTD 2021 (6 Months): There were a total of 1338 transactions totaling $1,272,111,726 in monetary volume. Average transaction price was $979,600, average residential price was $1,030,242 and average residential PPF was $634.
  • Market Snapshot for FULL Years 2021 vs 2020: Average Indicators for $: Single Family +15%, Multi- Family +15% and Vacant Land +13%. Median Indicators for Single Family +14%, Multi- Family +15% and Vacant Land +20%.
  • Market Analysis % Change YTD June 2021: Monetary volume in June 2021 was up 176% from June 2020. Transactions were up 136% from June 2020. YTD 2021 $ volume is pacing 134% up and transactions are up 92% from YTD 2020.
  • Residential Cost Analysis: Residential volume in June had 245 transactions with $255,383,421 gross volume. There were 77 properties that sold for $1M and above in June. There were 91 Single Family, 154 Multi-Family and 9 Vacant Land transactions.
  • Average Price History by Type-YTD 2021: Average price for residential Single Family: $1,597,670, Multi- Family: $700,419 and Vacant Land: $415,087.
  • Comparative Historical Cost Analysis Comparison 2021-2020-2019: YTD 2021, there were 1080 residential transactions and $1,112,661,444 gross $ volume with 356 properties selling for over $1M. In 2020, there were 561 transactions with $468,357,923 gross $ volume with 145 properties selling for over $1M. In 2019, 749 transactions with $615,801,873 gross $ volume with 172 properties selling for over $1M.
  • Top Lender Analysis June 2021: There were 656 loans in June, 193 loans were related to sales, there were 275 REFI’s and 188 loans were timeshare related. 37% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 11 of the Market Analysis– Note the the higher priced sale in June 2021 in Breckenridge at $17,000,000. The top priced PSF was in Breckenridge, the same sale at $2,335.
  • Purchaser Profile Abstract: There were 87 upper end sales in June 2021. Our buyers for real estate transactions for June 2021: Local buyers at 27%, with the Front Range demographic at 45% and 28% are out of state buyers with 0% International. There is a graph included showing demographic trends through 2013 on page 17.

Thank you for your continued loyalty to Land Title.

Please reach out with any questions.

Brooke Roberts

June 2021 Market Analysis

July 2021 Market Stats Update

Here is where you can find all the latest info on the Summit County, CO market from Anne & Danielle of The Skinner Team. Including our market stats video series and information compiled by the Land Title Guarantee Company.

A Review of July 2021 Market Stats Info:


Archived Market Stats Videos


Below is the market analysis report for the month of June. The market continues to be unique with high prices (there were 77 properties that sold for $1M and above in June), low inventory and high demand. 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 June 2021: There were a total of 285 transactions and $296,954,321 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,071,749, average residential price was $1,042,381 and average residential PSF was $679.
  • Market Analysis by Area YTD 2021 (6 Months): There were a total of 1338 transactions totaling $1,272,111,726 in monetary volume. Average transaction price was $979,600, average residential price was $1,030,242 and average residential PPF was $634.
  • Market Snapshot for FULL Years 2021 vs 2020: Average Indicators for $: Single Family +15%, Multi- Family +15% and Vacant Land +13%. Median Indicators for Single Family +14%, Multi- Family +15% and Vacant Land +20%.
  • Market Analysis % Change YTD June 2021: Monetary volume in June 2021 was up 176% from June 2020. Transactions were up 136% from June 2020. YTD 2021 $ volume is pacing 134% up and transactions are up 92% from YTD 2020.
  • Residential Cost Analysis: Residential volume in June had 245 transactions with $255,383,421 gross volume. There were 77 properties that sold for $1M and above in June. There were 91 Single Family, 154 Multi-Family and 9 Vacant Land transactions.
  • Average Price History by Type-YTD 2021: Average price for residential Single Family: $1,597,670, Multi- Family: $700,419 and Vacant Land: $415,087.
  • Comparative Historical Cost Analysis Comparison 2021-2020-2019: YTD 2021, there were 1080 residential transactions and $1,112,661,444 gross $ volume with 356 properties selling for over $1M. In 2020, there were 561 transactions with $468,357,923 gross $ volume with 145 properties selling for over $1M. In 2019, 749 transactions with $615,801,873 gross $ volume with 172 properties selling for over $1M.
  • Top Lender Analysis June 2021: There were 656 loans in June, 193 loans were related to sales, there were 275 REFI’s and 188 loans were timeshare related. 37% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 11 of the Market Analysis– Note the the higher priced sale in June 2021 in Breckenridge at $17,000,000. The top priced PSF was in Breckenridge, the same sale at $2,335.
  • Purchaser Profile Abstract: There were 87 upper end sales in June 2021. Our buyers for real estate transactions for June 2021: Local buyers at 27%, with the Front Range demographic at 45% and 28% are out of state buyers with 0% International. There is a graph included showing demographic trends through 2013 on page 17.

Thank you for your continued loyalty to Land Title.

Please reach out with any questions.

Brooke Roberts

June 2021 Market Analysis

Clean Up Day, Today! (5/21)