Tag Archives: Market Analysis

Summit County Market Analysis, August (Land Title Guarantee Co.)

August 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 August 2017: The month of August was Summit’s best month so far in 2017! There were 272 transactions and $170,248,375 in monetary volume. Some trends for all 18 reported areas in August: $ 632,245 Average transaction price, $679,419 Average residential price and $424 PPSF.
  • Year to Date Market Analysis (8 months): Monetary volume in 2017 totaled $981,368,068 with 1577 transactions. $638,758 Average transaction price, $673,202 Average residential price and $426 PPSF.
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +17%, Multi- Family +12% and Vacant Land 0%. Median Indicators for $: Single Family +22%, Multi- Family +10% and Vacant Land -9%.
  • Market Analysis % Change YTD 2017: Monetary volume ($170,248,375) in August 2017 was 22% higher than August 2016. Transactions (272) were down 4% to August 2016.  YTD 2017, monetary volume is up by 26% and transactions are up 8% compared to YTD 2016.
  • Residential Market Sales by Price Point: Residential volume in August had 231 transactions with $ 156,945,700 gross volume. There were 38 properties that sold for $1M and above in August. The most active price points were between $300K-$500K with transactions. There were 78 Single Family, 153 Multi-Family and 20 Vacant Land transactions in August.
  • Average Price History by Type 2017: Average price for residential Single Family: $1,096,406, Multi- Family: $460,631 and Vacant Land: $354,151.
  • Comparative Historical Cost Analysis 2017 YTD: There were 1313 residential transactions and $883,914,045 gross $ volume with 208 properties selling for $1M and over-compared to 2016, there were 1220 transactions and $683,932,493 gross $ volume, 121 properties at $1M and over.  In 2015, there were 1184 transactions with $641,544,640 gross $ volume, 110 properties at $1M and over.
  • Top Lender Graph: There were 478 loans in August, 63% (171) of the loans were related to sales, there were 129 REFI’s and 178 loans were timeshare related. 37% 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 August in the Shock Hill subdivision. A Liftside Condo topped out the highest PPSF at $939. There were no bank sales in August. 
  • Foreclosures: Actions were a bit up with 4 in August 2017 compared to 2 in August 2016. There have been 35 Foreclosure actions filed YTD.
  • Purchaser Profile Abstract:  There were 40 upper end sales in August compared to 29 in July. Our buyers for real estate transactions in August were approximately Front Range demographic at 42% of our market, 25% are “local” and 33% are out of state buyers with 0% International.
  • Land Title New Development Summary: This (page 16) shows all the new construction each month, Summit Sky Ranch started closing in August with 6, and there were a total of 15, same as July.

April Market Analysis

Land Title Guarantee Company’s April 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 April 2017: There were 189 transactions and $114,226,938 in monetary volume. Some trends for all 18 reported areas in April: $618,443- Average transaction price, $651,114- Average residential price and $421-PPSF.
  • Year to Date Market Analysis (4 months): Monetary volume in 2017 totaled $400,422,612 with 621 transactions. $665,173-Average transaction price, $687,676-Average residential price and $422-PPSF.
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +22%, Multi- Family +12% and Vacant Land +8%. Median Indicators for $: Single Family +30%, Multi- Family +10% and Vacant Land +8%.
  • Market Analysis % Change YTD 2017: Monetary volume ($114,226,938) in April 2017 was 28% higher than April 2016. Transactions (189) were also up at 22% from April 2016.  YTD 2017, monetary volume is up by 31% and transactions are up 15% compared to YTD 2016.
  • Residential Market Sales by Price Point: Residential volume in April had 162 transactions with $105,480,438 gross volume. There were 25 properties that sold for $1M and above in April. The most active price point was between $300K-400K with 28 transactions. There were 55 Single Family, 107 Multi-Family and 11 Vacant Land transactions in April.
  • Average Price History by Type 2017: Average price for residential Single Family: $1,141,417, Multi- Family: $458,136 and Vacant Land: $383,469.
  • Comparative Historical Cost Analysis 2017 YTD: There were 512 residential transactions and $352,089,998 gross $ volume with 95 properties selling for a $1M and over-compared to 2016, there were 459 transactions and $268,033,677 $ gross volume, 46 properties at $1M and over.  In 2015, there were 423 transactions with $232,945,600 $ gross volume, 43 properties at $1M and over.
  • Top Lender Graph: There were 416 loans in April, 64% (189) of the loans were related to sales, there were 110 REFI’s and 185 loans were timeshare related. 36% 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 April in the Highlands/Braddock Hill area, Water House topped out the highest PPSF at $845.76. There were 2 bank sales in April.
  • Foreclosures: There were 5 foreclosure actions in April.
  • Purchaser Profile Abstract:  There were 25 upper end sales in April compared to 38 in March. Our buyers for real estate transactions in April were the Front Range demographic at 45% of our market, 21% are “local” and 34% are out of state buyers with 0% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 12 in April compared to 20 in March.

March Market Analysis

Land Title Guarantee Co. Market Analysis: March 2017
  • Market Analysis by Area for March 2017: There were 178 transactions and $123,142,000 in monetary volume. Some trends for all 18 reported areas in March: $713,812- Average transaction price, $753,769- Average residential price and $418-PPSF.
  • Year to Date Market Analysis (3 months): Monetary volume in 2017 totaled $286,195,674 with 432 transactions. $666,373-Average transaction price, $704,599-Average residential price and $423-PPSF.
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +30%, Multi- Family +10% and Vacant Land +14%. Median Indicators for $: Single Family +45%, Multi- Family +7% and Vacant Land +16%.
  • Market Analysis % Change YTD 2017: Monetary volume ($123,142,000) in March 2017 was 43% higher than March 2016. Transactions were also up at 31% from March 2016.  YTD 2017, monetary volume is up by 32% and transactions are up 12% compared to YTD 2016.
  • Residential Market Sales by Price Point: Residential volume in March had 137 transactions with $103,266,300 gross volume. There were 33 properties that sold for $1M and above in March. The most active price point was between $300K-400K with 22 transactions. There were 46 Single Family, 91 Multi-Family and 13 Vacant Land transactions in March.
  • Average Price History by Type 2017: Average price for residential Single Family: $1,213,507, Multi- Family: $449,052 and Vacant Land: $403,524.
  • Comparative Historical Cost Analysis 2017 YTD: There were 350 residential transactions and $246,609,560 gross $ volume with 70 properties selling for a $1M and over-compared to 2016, there were 323 transactions and $189,216,250 $ gross volume, 33 properties at $1M and over.  In 2015, there were 298 transactions with $159,956,800 $ gross volume, 28 properties at $1M and over.
  • Top Lender Graph: There were 532 loans in March, 63% (113) of the loans were related to sales, there were 133 REFI’s and 286 loans were timeshare related. 37% 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 March in the Sunrise Point area, One Ski Hill place topped out the highest PPSF at $1,327. There were no bank sales in March.
  • Foreclosures: There were 7 Foreclosure actions in March, 4 of those being timeshares.
  • Purchaser Profile Abstract:  There were 38 upper end purchasers in March compared to 17 in February. Our buyers for real estate transactions in March were the Front Range demographic at 40% of our market, 29% are “local” and 30% are out of state buyers with barely 1% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 20 in March compared to12 in February.

Summit County Market Analysis: February 2017

The Land Title Guarantee Company’s Summit County Market Analysis for February 2017 has been released:

February 2017 Market Analysis

  • Market Analysis by Area for February 2017: There were 116 transactions and $71,152,600 in monetary volume. Some trends for all 18 reported areas in February: $644,610- Average transaction price, $642,609- Average residential price and $408-PPSF.
  • Year to Date Market Analysis (2 months): Monetary volume in 2017 totaled $163,053,674 with 254 transactions. $666,373-Average transaction price, $672,973-Average residential price and $426-PPSF. 
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +24%, Multi- Family +5% and Vacant Land +2%. Median Indicators for $: Single Family +16%, Multi- Family +5% and Vacant Land +3%.
  • Market Analysis % Change YTD 2017: Monetary volume ($71,152,600) in February 2017 was 6% higher at than February 2016. Transactions were down 8% from February 2016 due do the inventory supply. YTD 2017, monetary volume is up by 25% and transactions are up 2% compared to YTD 2016. 
  • Residential Market Sales by Price Point: Residential volume in February had 100 transactions with $64,260,900 gross volume. There were 14 properties that sold for $1M and above in February. The most active price point was between $200K-300K with 23 transactions. There were 30 Single Family, 70 Multi-Family and 5 Vacant Land transactions in February.
  • Average Price History by Type 2017: Average price for residential Single Family: $1,154,877, Multi- Family: $432,021 and Vacant Land: $360,583.
  • Comparative Historical Cost Analysis 2017: There were 213 residential transactions and $143,343,260 gross $ volume with 37 properties selling for a $1M and over-compared to 2016, there were 209 transactions and $114,550,350 $ gross volume, 19 properties at $1M and over.  In 2015, there were 187 transactions with $99,488,300 $ gross volume, 15 properties at $1M and over. 
  • Top Lender Graph: There were 400 loans in February, 63% (73) of the loans were related to sales, there were 138 REFI’s and 189 loans were timeshare related. 37% 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 February in the Timber Trail area, One Ski Hill place topped out the highest PPSF at $1,299. There were no bank sales in February.
  • Foreclosures: There were 5 Foreclosure actions in February.
  • Purchaser Profile Abstract:  There were 17 upper end purchasers in February compared to 25 in January. Our buyers for real estate transactions in February were the Front Range demographic at 45% of our market, 29% are “local” and 25% are out of state buyers with barely 1% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 13 in February compared to 11 in January.

Land Title Guarantee Company February 2017 Market Analysis

Land Title Guarantee Company January Market Analysis

January 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 January 2017: There were 203 transactions and $122,880,919 in monetary volume. Some trends for all 18 reported areas in December: $621,604- Average transaction price, $670,122- Average residential price and $397-PPSF.
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +22% Multi- Family +10% and Vacant Land -15%. Median Indicators for $: Single Family +16%, Multi- Family 9% and Vacant Land -8%.
  • Market Analysis % Change YTD 2017 : Monetary volume ($91,901,074) in January 2017 was substantially higher at 45% compared to January 2016. Transactions (138) were only up by 11%. 
  • Residential Market Sales by Price Point: Residential volume in January had 113 transactions with $79,082,360 gross volume. There were 23 properties that sold for $1M and above in January. The most active price point was up a bit between $300K-400K with 19 transactions. There were 41 Single Family,72 Multi-Family and 7 Vacant Land transactions in January.
  • Average Price History by Type 2017: Average price for residential Single Family: $1.139,945 ( another milestone for the highest since Land Title has been tracking), Multi- Family: $449,231 and Vacant Land: $299,714.
  • Comparative Historical Cost Analysis 2017: There were again 113 residential transactions and $79,082,360 gross $ volume with 23 properties selling for a $1M and over-compared to 2016, there were 104 transactions and $55,534,150  $ gross volume, 9 properties at $1M and over and in 2015, there were 98 transactions with $56,210,600  $ gross volume, 12 properties at $1M and over. 
  • Top Lender Graph: There were 452 loans in January, 70% (96) of the loans were related to sales, there were 152 REFI’s and 204 loans were timeshare related. 30% 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 January in the Sawmill Patch Placer area, also for the highest PPSF. There were no bank sales in January.
  • Foreclosures: Down again, with only 2 actions in January, compared to 4 in January 2016. There with no PTD filings in January.
  • Purchaser Profile Abstract:  There were 25 upper end purchasers in January compared to 22 in December 2016. Our buyers for real estate transactions in January were the Front Range demographic at 33% of our market, 36% are “local” and 31% are out of state buyers with barely 1% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 11 in January compared to 16 in December 2016.

Land Title Guarantee Company January 2017 Market Analysis

Second Quarter Market Analysis

Summit County Second Quarter Market Analysis 

Land Title just published their second quarter statistics for some of the most popular mountain communities.  I think one of the things that surprised me most is that in Pitkin and San Miguel where Aspen and Telluride are, over 50% of the buyers are from out of state.  This is a very substantial proportion.  Both of these areas have their own airports which make the access from other states fairly easy, however, the drive time from Denver is well over 3 hours.

On the other hand, Grand County has the largest portion of Front Range buyers followed by Summit County then Eagle County.  It seems that the proportion of Front Range buyers is directly correlated to the distance.  When considering a mountain home, your travel time can definitely be a big factor as you don’t want to spend your entire weekend driving.  If you have been thinking about a mountain home, contact me today!


Mixed Stats for Second Quarter for Real Estate Transactions 

Land Title is a local company within Colorado and has been in business since 1967. To help partner with our customers and local communities, we’d like to share some valuable information on the real estate market in seven of our Colorado mountain communities of Aspen (Pitkin County), Breckenridge (Summit County), Steamboat Springs (Routt County), Glenwood Springs (Garfield County), Winter Park (Grand County), and Vail (Eagle County) and Telluride (San Miguel County).

2016 Second Quarter Highlights from the Seven Counties:

    • Buyer Profile: 51.49% local, 22.36% Front Range, 25.54% Out-Of-State, .62% international.
    • Three counties saw an increase in the number of transactions compared to last year’s Q2 numbers. Grand had the biggest increase with 40.00%.
    • Average residential price up in Garfield, Pitkin and Summit counties. Top county was Garfield with a 10.65% increase.
  • In gross volume sales, Garfield county saw the biggest increase at 21.30%

Mountain Resorts Q2 Analysis

  • Median Residential Price up 3.16% from Q2 LY numbers
  • Gross Sales Volume down 13.58% from LY numbers
  • Average Residential Price down 13.01% from Q2 LY numbers
  • Real Estate Transactions down 1.75% from Q2 LY numbers
  • Buyer Profile: 55.67% Local, 15.13% Front Range, 28.01% Out-of-State, 1.18% International

Eagle County June Analysis

  • Median Residential Price up .26% from Q2 LY numbers
  • Average Residential Price up 10.65% from Q2 LY numbers
  • Gross Sales Volume up 21.30% from LY numbers
  • Real Estate Transactions up 6.37% from Q2 LY numbers
  • Buyer Profile: 88.93% local, 3.14% Front Range, 7.79% Out-of-State, 0.14% international

Garfield County June Analysis

  • Median Residential Price up 2.07% from Q2 LY numbers
  • Average Residential Price down 8.47% from Q2 LY numbers
  • Gross Sales Volume up 18.18% from LY numbers
  • Real Estate Transactions up 40.00% from Q2 LY numbers
  • Buyer Profile: 30.63% local, 53.29% Front Range, 16.08% Out-of-State, 0% international

Grand County June Analysis

  • Median Residential Price down 3.09% from Q12 LY numbers
  • Average Residential Price up 1.83% from Q2 LY numbers
  • Gross Sales Volume down 41.86% from LY numbers
  • Real Estate Transactions down 36.71% from Q2 LY numbers
  • Buyer Profile: 43.12% local, 4.59% Front Range, 51.38% Out-of-State, .92% international

Pitkin County June Analysis

  • Median Residential Price up 10.0% from Q2 LY numbers
  • Average Residential Price down 1.42% from Q2 LY numbers
  • Gross Sales Volume up 18.5% from LY numbers
  • Real Estate Transactions up 20.74% Q2 LY numbers
  • Buyer Profile: 54.86% local, 14.99% Front Range, 30.14% Out-of-State, 0% International

Routt County June Analysis

  • Median Residential Price is down 31.3% from Q2 LY numbers
  • Average Residential Price down 6.34% from Q2 LY numbers
  • Gross Sales Volume down 10.17% from LY numbers
  • Real Estate Transactions are flat from Q2 LY numbers
  • Buyer Profile: 46.03% Local, 1.19% Front Range, 50.79% Out-of-State, 1.98% International

San Miguel County June Analysis

  • Median Residential Price up 5.42% from Q2 LY numbers
  • Average Residential Price up 4.59% from Q2 LY numbers
  • Gross Sales Volume down .91% from LY numbers
  • Real Estate Transactions down 7.59% from Q2 LY numbers
  • Buyer Profile: 33.72% local, 35.18% Front Range, 30.48% Out-of-State, 0.63% International

Summit County June Analysis

photoBrooke Roberts
Director of Sales and Marketing
Land Title Guarantee Company
Summit County
Visit www.ltgc.com/office
Cell: 970-389-5274
broberts@ltgc.com

Summit County Market Analysis

Land Title Guarantee July 2016 Summit County Market Analysis 

July 2016 Market Analysis (From Land Title Guarantee)

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 July 2016: There were 215 transactions and $104,621,918 in monetary volume. Average transaction price for all 18 reported areas: $492,978, Average residential price, $513,101 average residential and PPSF at $361.
  • Year to Date Market Analysis (7 months): Monetary volume was $638,127,710 with 1173 transactions. Average transaction price: $554,196, Average residential price: $562,664 and PPSF: $364.
  • Market Snapshot for Years 2016 vs 2015:  Average Indicators for $: Single Family +10%, Multi- Family -3% and Vacant Land -6%. Median Indicators for $: Single Family +8%, Multi- Family -1% and Vacant Land -9%.  
  • Market Analysis % Change YTD 2016 Data (7 months): Monetary volume ($104,621,918) in July was down -11% compared to July 2015. Number of transactions (215) was up 6% in July compared to July 2015. YTD 2016, monetary volume down -3% compared to YTD 2015 and transactions are also down only -3% compared to YTD 2016. There continues to be a shortage of inventory in Summit County.
  • Residential Market Sales by Price Point: Residential volume in July had 176 transactions with $90,305,771 gross volume. There were 21 properties that sold for $1M and above in July. The most active price points were between the $200K-$400K (71) range this month. There were 45 Single Family, 131 Multi-Family and 18 Vacant Land transactions in July.
  • Comparative Historical Cost Analysis ( 7 months): There were 992 residential transactions and $558,162,218 volume with 99 properties selling for a $1M and over-compared to 2015, there were 959 transactions and $519,352,800 gross volume, 89 properties at $1M and over and in 2014, there were 782 transactions with $318,435,356 gross volume, 65 properties at $1M and over.
  • Average Price History by Type (7 months): Average price for residential Single Family: $970,716, Multi- Family: $355,905 and Vacant Land: $365,083.
  • Top Lender Graph: There were 462 loans in July, 64% of the loans were related to sales, there were 137 REFI’s and 187 loans were timeshare related. 36% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 10 of the Market Analysis-Higher priced sale in July (Shock Hill). There were no bank sales in July.
  • Foreclosures: There were 7 foreclosure actions in July 2016 compared to 12 in July 2015. There are only 29 foreclosure actions YTD.
  • Purchaser Profile Abstract:  Upper end purchasers totaled 22 in July. Our buyers for real estate transactions were the Front Range demographic at 34% of our market, 34% are “local” and 31% are out of state buyers (Check out the new section this month with the Out of State Buyer’s breakdown on page 15!), with 1% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 9 in July.

Screen shot 2016-08-25 at 5.03.49 PM