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 2021 Market Stats Info:
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 2020: There were a total of 283 transactions and $236,644,433 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $848,816, average residential price was $891,305 and average residential PSF was $582.
- Market Analysis by Area Full year 2020: There was a total of $2,319,029,219 (record high) with 2800 transactions. The average transaction price was $847,756, the average residential price was $903,385 and the average PPSF was $531.
- Market Snapshot for FULL Years 2020 vs 2019: Average Indicators for $: Single Family +10%, Multi- Family +8% and Vacant Land 7%. Median Indicators for Single Family +12%, Multi- Family +9% and Vacant Land 9%.
- Market Analysis % Change FULL Year 2020: Monetary volume ($236,644,433) in December 2020 was up 30% from December 2019. Transactions (283) were up 23% from December 2019. Full Year 2020 Monetary Volume ended with a new Summit record high (closing with a total of $2.139B) and 22% ahead of 2019, and transactions (2800) were up 15 % compared to 2019.
- Residential Cost Analysis: Residential volume in December had 237 transactions with $211,239,400 gross volume. There were 69 properties that sold for $1M and above in December. There were 73 Single Family, 164 Multi-Family and 24 Vacant Land transactions. Full Year 2020 ended with 872 Single Family, 1419 Multi- Family and 223 Vacant Land sales.
- Average Price History by Type- FULL Year 2020: Average price for residential Single Family: $1,386,525 (record high), Multi- Family: $606,487 ( record high) and Vacant Land: $368,859.
- Comparative Historical Cost Analysis Comparison 2020-2019-2018: In 2020, there were 2291 residential transactions and $2,069,655,256 gross $ volume with 658 properties selling for over $1M. In 2019, there were 1933 transactions with $1,586,910,706 gross $ volume with 454 properties selling for over $1M. In 2018, there were 1994 transactions with $1,499,765,478 gross $ volume with 381 properties selling for over $1M.
- Top Lender Analysis December 2020: There were 745 loans in December. 187 loans were related to sales, there were 398 REFI’s and 160 loans were timeshare related. 34% of the real estate closings were cash transactions. In 2020, there were a total of 7102 loans including refi’s and timeshares, 31% of all transactions were cash.
- Market Highlights: Please see page 11 of the Market Analysis– Note the the higher priced sale in December 2020 in Breckenridge at $5,260,000. The top priced PSF was in Breckenridge at Four O’Clock Condos at $1,250
- Foreclosures: There were 16 Foreclosures in December, all timeshares. The year ended with a total of 42 Foreclosure actions with only 9 going to PTD. No Bank sales in December.
- Purchaser Profile Abstract: There were 73 upper end sales in December 2020 compared to 108 in November. Our buyers for real estate transactions for December 2020: Front Range demographic at 53% of our market, 16% are “local” and 30% are out of state buyers with 0% International. 2020 buyer demographic’s continue to shift from years past with an increase of 47% Front Range ( 42% in 2019), 21%”local” ( 29% in 2019) and 32% out of state ( 29% in 2019) and 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 19 in December compared to 39 in November.