Tag Archives: The Skinner Team

How to Be a Competitive Buyer

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February 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 Summary of 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 

Price Improvement – Leadville, CO Single Family Home

PRICE IMPROVEMENT!

$660,000

$695,000
618 Chestnut St.
Leadville, CO 80461


  • 2 bedroom / 2 bathroom
  • 1,418 sqft
  • Fantastic location in downtown Leadville close to the Mineral Belt, hospital, Harrison Ave, and more!
  • Great layout with tons of storage and beautiful built-ins
  • Large garage with amazing additions: mechanic pit, engine lift, and ventilation system
  • Three outbuildings including a dedicated carpenter shop
  • stainless steel siding great for Leadville winters.

Live in the heart of downtown Leadville on this seven lot single family home with wonderful mountain views and great additions! These include, but are not limited to: a garage with a mechanic pit, an engine lift, a vent system, and a dedicated carpenter shop. Enjoy the beautiful south-facing natural light inside where you’ll find hardwood floors upstairs and custom built-ins. In the warmer months relax in your very own wildflower garden grown from seeds collected in the surrounding mountains!



Floorplan:


For your private showing or more information please contact me:

Skinner Team and KW

2022 Legislation for Landlords & Tenants

2022 Legislation for Landlords & Tenants
Presented by
The Skinner Team |KW Top of The Rockies

Information provided by the Colorado Department of Regulatory Agencies

With many of our clients owning investment properties that are utilized for rentals, we thought it would be beneficial to share the updated Colorado Landlord & Tenant Laws and Responsibilities for 2022. This includes some of the most important changes, but not all. Changes on property managers are wide ranging. Our hope is that you’ll find this information beneficial as the landlord and property owner. As always, we advise that you seek the assistance of your legal counsel to keep your rental lease agreements up-to-date. There is no formal word yet, but rental assistance is expected to be available as long as the funds hold out and income hardships are related or linked to COVID. Landlord or tenant can apply from this website: Emergency Rental and Mortgage Assistance | Department of Local Affairs (colorado.gov)

Existing Lease Language

New and renewed leases should be reviewed and adjusted to cover required changes. Existing leases typically do not need to be re-executed, BUT the new laws may still apply. Clients need to be advised that language in their existing lease may conflict and failure to follow the new changes may put the landlord at risk of penalty. Seek the assistance of your legal counsel. 

Landlord Liability
Landlords who do not comply with the legislation risk:

  • Failure to cure will result in damages and penalty of $150 to $1000 plus attorneys’ fees and costs
  • Non-complying provisions is “void” and unenforceable 
  • Liable for $50 for each violation
  • Tenant may be awarded damages and the penalty of $150 to $1000 per violation

Late Fees 

  • Cannot exceed the greater of $50 or 5% of rent per month and must be stipulated in the lease
  • 7-Day grace period on late fees from due date
  • No interest on late fees, no compounded late fees
  • Tenant cannot be evicted for failure to pay late fees
  • Lease may not stipulate that late fee becomes RENT
  • Cannot charge a late fee if rent paid by subsidy provider is paid late
  • “Rent Payment” cannot be applied to past due late fee
  • Written notice of late fee within 180 days of rent due or forfeited
  • Landlord has 7 days to cure any error in charging late fees after written or electronic notice of error from tenant
  • PROHIBITS- Evictions for non-payment of late fees, terminate lease for non-payment of late fees, collecting late fees from base rent payments

Rent Increases 

  • Residential landlords can only increase rent once every 12 moths for the same tenant
  • WITHOUT A WRITTEN LEASE: Commercial 21 days notice required, Residential 60 day notice required
  • Residential tenants without a written lease cannot be given a notice of non-renewal if purpose is to increase the rent

“Wear and Tear” 

  • Commercial compared to residential is not always the same.  
  • Examples of normal wear and tear for residential:
  • Word or faded carpet
  • Small scuffs on walls
  • Sun-faded blinds
  • Warped door frames
  • Dirty of loose grout around bath tiles
  • Examples of property damage for residential
  • Burns or pet stains on carpet
  • Holes in doors or walls
  • Damaged blinds
  • Missing screens or broken windows
  • Chips in sinks, toilets or bathtubs

Management Fees

  • Many things are now considered Unauthorized Fee Collection:
  • Prior written consent from owner required to assess or receive mark-ups
  • Selling or brokering a brokerage or 3rd party service without disclosing that the brokerage will be compensated for said service
  • Not disclosing in Management Agreement brokerage charges and collection fees from tenant
  • Changes in fees to Management Agreement are not allowed without current written permission
  • A unilateral clause allowing fee changes with notice are not accepted as being authorized by the owner

Warranty of Habitability 

  • Eases tenant requirements to file a claim under the Warranty of Habitability
  • No Habitability Bond or deposit of rent with court required for tenants with:
  • Income less than 5 times the rent amount of less than 250% of Federal poverty line
  • Removes safeguards against potentially bogus claims
  • In addition to damages, court allowed to reduce rent

Removal or Exclusion 

  • Removal or exclusion of a tenant from property requires a court process, except for the following:
  • State Board of Health rules for the cleanup of an illegal drug lab
  • Mutual consent of landlord and tenant
  • Abandonment of property by tenant
  • Improper actions involving removal or exclusion of tenant from property may now result in large financial damages:
  • Tenant’s actual damages
  • Plus 3 times the monthly rent of $5,000, whichever is greater
  • Plus, attorney’s fees and costs

Eviction Procedures

  • Tenant can challenge Service of Demand- landlord must be able to show attempt to deliver in person
  • Discovery Rights- both parties may request documents, such as tenant ledger (includes commercial properties)
  • Landlord required to accept full payment as identified in Demand up until Judgement issued for possession at end of day
  • Writ of Restitution (order to evict) can be issued no earlier than 48 hours after the judgement. Sheriff cannot perform a residential move out for an additional 10 days

Awarding of Court Costs and Attorney Fees 

  • Residential lease must contain reciprocal attorney fee provision for prevailing party
  • Prohibits unreasonable liquidated damages clause that assigns cost to tenant from an eviction notice or action- applies to commercial properties as well
  • Any provision not meeting these provisions is “void and unenforceable”

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

Market Stats Update – December 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 December 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 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 

Open House Tomorrow!

OPEN HOUSE 
Sunday, December 5th 
1pm to 3pm 
*Not in town this weekend? No problem! Contact us today to RSVP for our virtual tour on Sunday. 808-492-2241 or 970-389-6987

$459,000
8100 Ryan Gulch Rd E102 
Silverthorne, CO 80498

Located in the coveted Treehouse complex that has just had a great exterior update and has tons of amenities for you to enjoy. The clubhouse is just steps away and has a pool, hot tub, exercise room, pool table, arcade games, and more. Not only that but there is a separate clubhouse just for the owner as well as a tennis court and playground onsite. This unit has a great layout and plenty of storage with an added ski locker. The deck has incredible views that look out onto the lake and continental divide. (The photos don’t do it justice!) It’s also located on the free Summit Stage Bus line. This condo has tons of potential and is priced to sell! Update the original finishes or kick back and enjoy. Look no further for your mountain home!


  • 2 bedroom / 2 bathroom
  • 758 sq ft
  • Fantastic views of Lake Dillon and Continental Divide!
  • Great layout with tons of potential!
  • Wonderful storage with ski locker!
  • Two Clubhouses including pool, hot tub, game room, tennis court, and more!
  • Great amenities including the clubhouses, tennis courts, playground, and free Summit Stage bus stop across the street.
  • Property will be subject to new summit county short term rental regulations which should allow for 135 nights of rentals (Buyer to verify)
  • HOA dues: $544/mo. and include Cable Tv, Common Area Maintenance, Common Taxes, Electric, Gas, Heat, Internet/ Wi-Fi, Snow Removal, Trash Pickup, Water / Sewer


Floorplan:



Complex Map:


For your private showing or more information please contact me:

Skinner Team and KW

Just listed! 2 BD I 2 BA Treehouse Condo

JUST LISTED 

$459,000
8100 Ryan Gulch Rd E102 
Silverthorne, CO 80498

OPEN HOUSE 
Sunday, December 5th 
1pm to 3pm 
*Not in town this weekend? No problem! Contact us today to RSVP for our virtual tour on Sunday. 808-492-2241 or 970-389-6987

Located in the coveted Treehouse complex that has just had a great exterior update and has tons of amenities for you to enjoy. The clubhouse is just steps away and has a pool, hot tub, exercise room, pool table, arcade games, and more. Not only that but there is a separate clubhouse just for the owner as well as a tennis court and playground onsite. This unit has a great layout and plenty of storage with an added ski locker. The deck has incredible views that look out onto the lake and continental divide. (The photos don’t do it justice!) It’s also located on the free Summit Stage Bus line. This condo has tons of potential and is priced to sell! Update the original finishes or kick back and enjoy. Look no further for your mountain home!


  • 2 bedroom / 2 bathroom
  • 758 sq ft
  • Fantastic views of Lake Dillon and Continental Divide!
  • Great layout with tons of potential!
  • Wonderful storage with ski locker!
  • Two Clubhouses including pool, hot tub, game room, tennis court, and more!
  • Great amenities including the clubhouses, tennis courts, playground, and free Summit Stage bus stop across the street.
  • Property will be subject to new summit county short term rental regulations which should allow for 135 nights of rentals (Buyer to verify)
  • HOA dues: $544/mo. and include Cable Tv, Common Area Maintenance, Common Taxes, Electric, Gas, Heat, Internet/ Wi-Fi, Snow Removal, Trash Pickup, Water / Sewer


Floorplan:



Complex Map:


For your private showing or more information please contact me:

Skinner Team and KW

Thinking About Upgrading?

I had a great conversation with some past clients at one of their kiddos birthdays this past weekend. We were talking about the housing market and now that they have 2 kids, they’re wanting to upgrade to a 4 bedroom. However, it seems challenging and daunting since prices have gone up so much. Now I am going to preface this by saying, I totally understand that this scenario is not going to work for everyone, but both of my clients happened to have purchased homes in the area 2 to 4 years ago so they have both made some solid equity in their homes over the last few years and have saved quite a bit. We talked about a few scenarios where they could buy something new and potentially keep the home they currently own. Here are a few scenarios we talked about as well as the numbers to help show you why this can be beneficial…

For the purpose of these examples, we are going to say that they are not carrying any other debt besides their mortgages. In addition, we are going to use a fictitious income of $120K per year for the family.

When it comes to mortgages, we talk about debt to income ratio. Most lenders do not want your debt to income ratio to exceed 45%. What that means is that the total of your monthly payments for your house, car, loans, credit cards, etc does not exceed 45% of your total monthly income. That means if we are talking about $120K per year, that breaks down to $10k per month and with no other debt, they could spend $4500/mo. on a mortgage. That roughly translates to a $800-900K mortgage.

Scenario 1, they just simply sell and upgrade:

They would walk away with $200-300K from the equity increase plus they qualify for an $800-900K mortgage which means they can get into a home that is worth around $1-1.2M which can definitely get you a good home in our market. (Keep in mind the downpayment on the mortgage.)

Here is what I encouraged them to think about instead though…

Scenario 2, they keep their home and long term rent it:

Most people aren’t really aware that you can count 75% of a 12-month lease on your home towards your income. Just to keep numbers simple, I’m going to say they could rent their homes for $3600/mo. That means $2,700 can be counted towards their income. Now, overall, their monthly income goes from $10,000 to $12,700. Of course by keeping their home, now they have additional debt that affects their debt to income ratio

Instead of being able to spend 45% of $12,700 (about $5,715 on their mortgage), they have to take out the current mortgage payment. That is about $1,750 per month). That means that now they can spend $3,965 on a new mortgage ($5,715-1,750). Now that does reduce their overall qualification mortgage amount to about $750-800K. These guys were good savers, and have 10-20% down, that puts them into an $800-1M home which will likely still get them everything they want. Here is the cool part, and it’s often overlooked. Not only is someone paying your mortgage on your original home, but also you are pocketing almost $2,000 per month on top of that!! Plus their original house gets to sit there and grow equity while someone is paying the mortgage. With a 5%+ equity growth, someone else is paying your mortgage while the home is gaining $35,000-50,000 in value each year. Plus then if you choose to sell it within 3 years, you can still take the primary residence tax deduction. A married couple can gain up to $500K tax free for their primary residence. They must have occupied it 2 of the last 5 years though so they can rent it for up to 3 years while it is essentially growing tax free for them (assuming they don’t exceed a $500K gain). Yet another upside is now they have two properties hopefully making those gains each year instead of just one!

Third scenario to consider, Equity: 

One of these couples has more than $200-300K in equity. In fact they are probably closer to $400-500K in equity. If they wanted to take some of that equity out, they could either do a HELOC and take out some money for an additional down payment to bump them to a higher price point or they could do a cash out refinance and pull out even more than they would with a HELOC. The big bonus on a HELOC is that most HELOCs are interest only payments which means when you are talking about your debt to income ratio for qualification, it doesn’t affect you nearly as much. They might be able to take out $100K and only pay $100 per month on it. A cash out refinance might allow you to take more like $200K out, but it will restructure the mortgage payment and instead of it being $1,750 (original mortgage) + 100 (HELOC), it may look something more like $2,300 new mortgage. That still can be extremely beneficial. It just depends on whether you need that much or not.

The nice thing is that a lender who really knows what they are doing can make this happen for you all simultaneously.

I love having these conversations with clients because it’s not just about buying and selling homes (although of course I enjoy that). What I am more passionate about is helping my clients grow their wealth, and showing them the opportunities real estate can afford them. It has made such a powerful impact on my life, and I really want to pass that on to those around me.

Of course no one can ever always assume real estate will go up for ever, but historically it has trended that way. And of course, not everyone is going to be in the same situation as these clients. You will also always want to speak with your tax advisor as well! No matter what your situation is, let’s talk through all the various scenarios, and figure out what is going to be the right one for you!

– Anne Skinner
November 2021

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-October 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-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 August 2021: There were a total of 262 transactions and $304,177,859 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,201,097 average residential price was $1,205,124 and average residential PSF was $694.
  • Market Analysis by Area YTD 2021 (8 Months): There were a total of 1846 transactions totaling $1,820,259,185 in monetary volume. Average transaction price was $1,015,085 average residential price was $1,061,950 and average residential PPF was $648.
  • Market Snapshot for FULL Years 2021 vs 2020:  Average Indicators for $: Single Family +18%, Multi- Family +18% and Vacant Land +27%. Median Indicators for Single Family +17%, Multi- Family +16% and Vacant Land +28%.
  • Market Analysis % Change YTD August 2021: Monetary volume in August 2021 was up 4% from August 2020. Transactions were down 29% from August 2020.  YTD 2021 $ volume is pacing 78% up and transactions are up 42% from YTD 2020.
  • Residential Cost Analysis:  Residential volume in August had 220 transactions with $265,127,300 gross volume. There were 76 properties that sold for $1M and above in August.  There were 88 Single Family, 132 Multi-Family and 11 Vacant Land transactions.
  • Average Price History by Type-YTD 2021: Average price for residential Single Family: $1,639,903, Multi- Family: $717,132 and Vacant Land: $469,440.
  • Comparative Historical Cost Analysis Comparison 2021-2020-2019: YTD 2021, there were 1512 residential transactions and $1,605,669,044 gross $ volume with 528 properties selling for over $1M. In 2020, there were 1051 transactions with $909,615,811 gross $ volume with 286 properties selling for over $1M. In 2019, 1142 transactions with $951,106,756 gross $ volume with 263 properties selling for over $1M.
  • Top Lender Analysis August 2021: There were 526 loans in August. Of these, 187 loans were related to sales, 222 were REFI’s and 117 loans were timeshare related. 29% of the real estate closings were cash transactions.
  • Market Highlights:  Please see page 11 of the Market Analysis- Note the higher priced sale in August 2021 in Breckenridge at $6,750,000. The top priced PSF was in Frisco at $2,063.
  • Purchaser Profile Abstract:  There were 101 upper end sales in August 2021 compared to 89 in July. Within the attached report there is a graph showing demographic trends through 2013 on page 17.
    Our buyers for real estate transactions for August 2021:

    • Local buyers at 24%
    • Front Range at 44%
    • 32% are out of state buyers
    • 0% International

Thank you for your continued loyalty to Land Title.

Please reach out with any questions.

Brooke Roberts

August 2021 Market Analysis