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 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.
November was another incredible month for real estate numbers in Summit County, pushing our gross volume over $2 Billion!
Market Analysis by Area for November 2020: There were a total of 394 transactions and $355,464,800 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions was $915,271, average residential price was $936,442 and average residential PSF was $564.
YTD 2020 Market Analysis by Area (11 months): There were a total of 2517 transactions, and $2,082,384,786 in monetary volume. The average transaction price for all 18 reported areas was $847,634, average residential price was $904,779 and average residential PPF was $525.
Market Snapshot for FULL Years 2020 vs 2019: Average Indicators for $: Single Family +9% change, Multi- Family +8% and Vacant Land 0%. Median Indicators for Single Family +12%, Multi- Family +9% and Vacant Land 6%.
Market Analysis % Change YTD Year 2020: Monetary volume ($355,464,800) in November 2020 was up 111% from November 2019. Transactions (394) were up 71% from November 2019. YTD 2020 Monetary Volume is pacing 21% up from YTD 2019. YTD 2020 transactions are pacing 14% up to YTD 2019.
Residential Cost Analysis: Residential volume in November had 329 transactions with $308,089,500 gross volume. There were 101 properties that sold for $1M and above in November. There were 114 Single Family, 215 Multi-Family and 36 Vacant Land transactions.
Average Price History by Type- YTD Year 2020: Average price for residential Single Family: $1,376,229 Multi-family: $604,629 and Vacant Land: $346,417.
Comparative Historical Cost Analysis Comparison YTD 2020-2019-2018: YTD 2020, there were 2054 residential transactions and $1,858,415,856 gross $ volume with 589 properties selling for over $1M. YTD 2019, there were 1741 transactions with $1,426,370,906 gross $ volume with 402 properties selling for over $1M. YTD 2018, there were 1847 transactions with $1,381,524,178 gross $ volume with 349 properties selling for over $1M.
Top Lender Analysis November 2020: There were 810 loans in November. 272 loans were related to sales. There were 337 REFI’s and 201 loans were timeshare related. 31% 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 November 2020 in the Woodmor area -Breckenridge at $4,000,000. The top priced PSF was in the One Ski Hill Place condos – Breck at $1,307.
Foreclosures: There was one Foreclosure action in November 2020 compared to 8 in November 2019. There have been a total of 26 Foreclosure actions YTD 2020. There were no Bank sales in November.
Purchaser Profile Abstract: Upper end sales were up in November with 108 compared to 98 in October. Our buyers for real estate transactions for November 2020: Front Range demographic at approx.. 47% of our market, 20% are “local” and 32% are out of state buyers with 0% International.
Land Title New Development Summary: This (page 18) shows all the new construction each month, there were 39 in November compared to 28 in October.
Keystone, Arapahoe Basin,Loveland, and Breckenridge are all open! *Keystone and Breck require reservations. Be sure to know the procedures of the mountain you’re going to visit before you go. Indoor dining is limited in most as well.
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!