Category Archives: Martket Information

November Market Stats Update

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

A Review of November 2018 Market Stats Info:


October 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 October 2018: There were a total of 236 transactions and $182,673,300 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $812,344, average residential price was $818,498 and average residential PSF was $481.
  • Year to Date Market Analysis ( 10 months): Monetary volume in YTD 2018 totaled $1,451,784,955 with 2102 transactions: $717,060 average transaction price, $748,403 average residential price and average residential PSF $469.
  • Market Snapshot for Years 2018 vs 2017:  Average Indicators for $: Single Family +5%, Multi- Family +9% and Vacant Land +14%. Median Indicators for Single Family +7%, Multi- Family +10% and Vacant Land +18%.
  • Market Analysis % Change 2018: Monetary volume ($182,673,300) in October 2018 was down 14% from October 2017. Transactions (236) were down 27% from October 2017.  YTD 2018 monetary volume is up 7% from YTD 2017, and transactions are now down 2% YTD 2018 compared to YTD 2017.
  • Residential Cost Analysis:  Residential volume in October had 193 transactions with $157,970,200 gross volume. There were 37 properties that sold for $1M and above in October.  The most active price points were between $300K-$500K with 60 transactions. There were also quite a few transactions in October between the price points of $500K-$600K with 28 transactions. There were 75 Single Family, 118 Multi-Family and 12 Vacant Land transactions.
  • Average Price History by Type 2018: Average price for residential Single Family: $1,298,937, Multi- Family: $513,135 and Vacant Land: $367,042.
  • Comparative Historical Cost Analysis YTD 2018: There were 1662 residential transactions and $1,243,846,478 gross $ volume with 309 properties selling for $1M and over. YTD 2017, there were 1810 residential transactions and $1,226,952,645 gross $ volume with 287 properties selling for over $1M. YTD 2016, there were 1692 transactions with $964,853,906 gross $ volume with 175 properties selling for over $1M.
  • Top Lender Analysis October 2018: There were 529 loans in October. 72% of purchasers closing with financing at the time of the sale, there were 110 REFI’s and 248 loans were timeshare related. 28% 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 October in the Shock Hill area at $4,091,500. The top priced PSF in the Village at Breckenridge at $961.
  • Foreclosures:  There were 4 Foreclosure actions taken in October compared to 3 last October 2017.
  • Purchaser Profile Abstract:  There were 41 upper end sales in October 2018 compared to 40 in September 2018. Our buyers for real estate transactions for 2018: Front Range demographic at 42% of our market, 28% are “local” and 31% are out of state buyers with 0% International. Please note 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 22 in October.

Historical Summit County Market Analysis
Click here for Archived Summit County Market Analysis

Latest Market Stats Update for October 2018

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

A Review of October 2018 Market Stats Info:


September 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 September 2018: There were a total of 259 transactions and $161,902,700 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $656,093, average residential price was $724,882 and average residential PSF was $478.
  • Year to Date Market Analysis ( 9 months): Monetary volume in YTD 2018 totaled $1,262,111,655 with 1866 transactions: $705,136 average transaction price, $739,194 average residential price and average residential PSF $467.
  • Market Snapshot for Years 2018 vs 2017:  Average Indicators for $: Single Family +3%, Multi- Family +9% and Vacant Land +14%. Median Indicators for Single Family +6%, Multi- Family +8% and Vacant Land +16%.
  • Market Analysis % Change 2018: Monetary volume ($161,902,700) in September 2018 was up only 1% from September 2017. Transactions (259) were up 4% from September 2017.  YTD 2018 monetary volume is up 11% from YTD 2017, and transactions are up 2% YTD 2018 compared to YTD 2017.
  • Residential Cost Analysis:  Residential volume in September had 196 transactions with $142,076,900 gross volume. There were 38 properties that sold for $1M and above in September The most active price points were between $300K-$500K with 58 transactions. There were 78 Single Family, 118 Multi-Family and 18 Vacant Land transactions.
  • Average Price History by Type 2018: Average price for residential Single Family: $1,029,123, Multi- Family: $523,774 and Vacant Land: $318,444.
  • Comparative Historical Cost Analysis YTD 2018: There were 1469 residential transactions and $1,085,876,278 gross $ volume with 272  properties selling for $1M and over.
  • Top Lender Analysis September 2018: There were 552 loans in September, 74% of purchasers closing with financing at the time of the sale, there were 82 REFI’s and 278 loans were timeshare related. 26% 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 September in the Woodmor area at $4,030,000. The top priced PSF in the Main Street Station Condos at $1,056.
  • Foreclosures:  There were 6 Foreclosure actions taken in September compared to 3 last September 2017.
  • Purchaser Profile Abstract:  There were 40 upper end sales in September 2018 compared to 61 in August 2018. Our buyers for real estate transactions for 2018: Front Range demographic at 41% of our market, 35% are “local” and 23% 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, there were 26 in September compared to 40 in August.

Land Title Guarantee Company September 2018 Market Analysis 


Historical Summit County Market Analysis
Click here for Archived Summit County Market Analysis

Rental Insights Report 2018 by Evolve

Evolve has put together a comprehensive report on all aspects of second-home rental property owners. Click the link below to be taken to their report.

Owner Insights Report – 2018 evolve

New Construction! Cucumber Creek Estates

Cucumber Creek Estates 
cucumbercreekestates.com

Breckenridge Lands is delighted to announce its newest offering of luxury homes centrally situated between the base of Peak 8 and historic Main Street. Cucumber Creek Estates incorporates five cottages and twelve paired residences tucked behind the Nordic Center, backing Shock Hill and adjoining the Cucumber Creek Open Space. Owners will enjoy exterior maintenance free living, exceptional access to skiing and the finest finishes.

Available Properties


Master Pan: 


Foorplans: 


Want to learn more? Contact us today for more information on this new construction in Summit County! 

3D-Printed Homes

You Can Now 3D-print a House in Under a Day

Quartz – Mike Murphy 

March 12, 2018

Austin, Texas

In the near future, building a new home may be as easy as printing out an airline boarding pass.

At South By Southwest today, New Story, a Y Combinator-backedcharity that works to build houses for people in developing nations, and Icon, a robotics construction company in Austin, Texas, unveiled what is believed to be the first 3D-printed house that is fully up to code and permitted for people to inhabit.

The two organizations came together to show that it’s feasibly possible to build an easy-to-replicate house in under 24 hours. They plan to take this proof-of-concept and start producing small houses for families in countries like Haiti and El Salvador. The 800-sq-ft house cost around $10,000 to build using Icon’s proprietary Vulcan printer, but the company plans to eventually bring that price down to around $4,000. Theoretically, it could soon print one of the houses in about six hours, a representative for New Story told Quartz. But the process is still being ironed out—the house in Austin is the only one built so far.

Icon Vulan
Icon’s house printer, the Vulcan. (Quartz/Mike Murphy)

The Vulcan printer was also on display, in the yard next to the lot where the house was printed. Massive, but still portable, the printer excretes a custom blend of concrete that hardens as it’s printed. The concrete is laid in 100 roughly one-inch-thick strands that hold their shape as they harden. Icon cofounder Evan Loomis told Quartz that the strength of the printed walls is stronger than cinderblocks after a few days of hardening, although the house is entirely habitable after it’s been set up.

Icon printed house
Each house features a living room, bathroom, a bedroom, and a study (which can be another bedroom). (Quartz/Mike Murphy)

After the walls are printed, New Story crew members come in and install windows, a wooden roof, basic plumbing, and electrical wiring which can be drilled right into the walls. The entire setup, including the finishing, takes under a day.

In the future, Icon would like to be able to develop robots that could automatically install the windows after the Vulcan finishing printing, and drones that could spray-paint the exterior walls. It’ll explore the possibility of printing roofs as well, but the technology for suspending concrete as it prints isn’t really feasible yet.

Icon printed house
The house is made up of about 100 lines of concrete, and a wooden roof. (Quartz/Mike Murphy)

There are other groups working on printing houses, including Apis Cor in Russia, but the group in Austin believes its structure to be the first printed house that’s been deemed inhabitable by a local government. Icon hopes to eventually commercialize its house-printing technology in the US, where housing shortages are reaching severe levels in some larger cities. “Affordability is important,” Loomis said, “regardless of whether you’re in Austin or El Salvador.”

In theory, families could customize the design, arrange for a printer to come plop down on their land, and have a readymade house to move into a day later. Even the average Amazon delivery takes longer than that.

For original article from Quartz: Click here

February 2018 Market Stats Update

Here are the latest market stats from Anne & Molly.

Please contact us if you have any questions or want to find your mountain escape! 

 

Market Stats Update – January 2018

Anne and Molly from the Skinner Team with Keller Williams Top of the Rockies in Summit County, CO recap the market stats from the end of the 2017 year, and highlight what they are curious to see happen in 2018.

5 Most Common Reasons for Closing Delays

RealtorMag has compiled information about the top reasons for delayed closings. This is why it’s important to not only work with a realtor you trust to navigate the local market for the best inspectors or title companies, but also to work with a lender that will actively help you ensure your financing comes through!


5 Most Common Reasons for Closing Delays

Seventy-three percent of home sales closed on time in October, but 25 percent of REALTORS® report a delay in getting to the settlement table, according to the latest REALTORS® Confidence Index, a survey based on responses from more than 3,500 real estate professionals. Only 2 percent say a contract was terminated completely.

What are the main problems encountered with delayed settlements? Real estate pros report the following:

  1. Issues related to obtaining financing: 32%
  2. Appraisal issues: 20%
  3. Home inspection/environmental issues: 16%
  4. Titling/deed issues: 11 percent
  5. Contingencies stated in the contract: 6%

Seventy-four percent of all contracts in October contained contingencies, most often for home inspections, appraisals, or financing.

Source: “REALTORS® Confidence Index Survey,” National Association of REALTORS® (October 2017)

2018 Conforming Loan Limits by County

2018 Conforming Loan Limits by County

This website provides 2018 conforming loan limits by county, as well as VA and FHA limits. In 2018, the baseline loan limit for most counties across the U.S. will be $453,100, an increase over 2017. More expensive markets, such as New York City and San Francisco, have conforming loan limits as high as $679,650. Anything above these maximum amounts is considered a “jumbo” mortgage.

The PDF and Excel files above were obtained from FHFA.gov. They are offered here as a convenience to our visitors. You can download them to your computer, in either format, and refer to them as needed.

Update: Conforming Loan Limits Increased for 2018

On November 28, 2017, the Federal Housing Finance Agency (FHFA) announced that it would raise the baseline conforming loan limit for 2018, for most counties across the country. They are also increasing the limits for certain “higher-cost areas” that are above the baseline. This is in response to significant home-price gains that occurred during 2017.

In most counties across the country, the 2018 maximum conforming loan limit for a single-family home will be $453,100. That’s an increase of $29,000 from the 2017 baseline limit of $424,100. This marks the second year in a row that federal housing officials have raised the baseline.

But again, this is just the baseline conforming loan limit used for most parts of the country. In higher-cost real estate markets, like San Francisco and New York City, the limit for a single-family home loan can be as high as $679,650.

Anything above these caps is considered a jumbo mortgage.


 

CLICK HERE to finish the article from LoanLimits.org

Land Title Guarantee Company November 2017 Market Analysis

November 2017 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 November 2017: There were a total of 230 transactions and $151,871,354 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $663,600, average residential price was $694,513 and average residential PPSF was $451.
  • Year to Date Market Analysis (11 months): Monetary volume in YTD 2017 totaled $1,506,142,622 with 2377 transactions: $646,352 average transaction price, $679,530 average residential price and average residential PPSF $430. 
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +16%, Multi- Family +15% and Vacant Land -5%. Median Indicators for Single Family +17%, Multi- Family +16% and Vacant Land -9%.
  • Market Analysis % Change YTD 2017: Monetary volume ($151,871,354) in November 2017 was down 18% from November 2016. Transactions (230) also down 14% from November 2016.  YTD 2017, monetary volume is up by 17% and transactions are up 4% compared to YTD 2016. 
  • Residential Market Sales by Price Point: Residential volume in November had 200 transactions with $138,902,688 gross volume. There were 24 properties that sold for $1M and above in November. The most active price points were between $300K-$400K with 37 transactions. There were 64 Single Family, 136 Multi-Family and 17 Vacant Land transactions in November.
  • Average Price History by Type 2017: Average price for residential Single Family: $1,084,991, Multi- Family: $470,841 and Vacant Land: $335,949.
  • Comparative Historical Cost Analysis 2017 YTD: There were 2010 residential transactions and $1,365,855,333 gross $ volume with 311 properties selling for $1M and over-compared to 2016, there were 1921 transactions and $1,098,827,441 gross $ volume, 203 properties at $1M and over.  In 2015, there were 1870 transactions with $1,027,115,318 gross $ volume,182 properties at $1M and over.
  • Top Lender Graph: There were 458 loans in November, 68% (157) of the loans were related to sales, there were 149 REFI’s and 152 loans were timeshare related. 32% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in November on French Street in Breckenridge. Also, a Crystal Peak Lodge property was the highest PPSF at $904. There were no bank sales in November. 
  • Foreclosures: Actions were down with 2 in November, compared to 6 in November 2016. There have been a total of 43 Foreclosure actions YTD.
  • Purchaser Profile Abstract:  There were 27 upper end sales in November. Our buyers for real estate transactions in November were Front Range demographic at 43% of our market, 29% are “local” and 28% are out of state buyers with 0% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month, there were 22 in November compared to 33 in October.