A Review of Mid-November 2020 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.
September 2020 real estate volume hit a new benchmark with $344M in gross volume with 384 transactions. When we were looking back to the very beginning of the Summit County record keeping back in 1987, there is no month that comes close to this September gross volume. The entire year of 1995 had the gross volume total of $339M.
- Market Analysis by Area for September 2020: There were a total of 384 transactions and $344,080,274 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions was $917,731, average residential price was $1,001,195 and average residential PSF was $524.
- YTD 2020 Market Analysis by Area (9 months): There were a total of 1681 transactions, and $1,366,883,676 in monetary volume. The average transaction price for all 18 reported areas was $834,249, average residential price was $896,390 and average residential PPF was $515.
- Market Snapshot for FULL Years 2020 vs 2019: Average Indicators for $: Single Family +4% change, Multi- Family +8% and Vacant Land -8%. Median Indicators for Single Family +7%, Multi- Family +11% and Vacant Land -3%.
- Market Analysis % Change YTD Year 2020: Monetary volume ($344,080,274) in September 2020 was up 87% from September 2019. Transactions (384) were up 57% from September 2019. YTD 2020 Monetary Volume is pacing 1% up from YTD 2019. YTD 2020 transactions are pacing now only 1% down to YTD 2019.
- Residential Cost Analysis: Residential volume in September had 310 transactions with $310,370,535 gross volume. There were 107 properties that sold for $1M and above in September There were 133 Single Family, 177 Multi-Family and 31 Vacant Land transactions.
- Average Price History by Type- YTD Year 2020: Average price for residential Single Family: $1,313,710, Multi-family: $607,276 and Vacant Land: $318,064.
- Comparative Historical Cost Analysis Comparison YTD 2020-2019-2018: YTD 2020, there were 1361 residential transactions and $1,219,986,346 gross $ volume with 393 properties selling for over $1M. YTD 2019, there were 1342 transactions with $1,119,758,156 gross $ volume with 312 properties selling for over $1M. YTD 2018, there were 1469 transactions with $1,085,876,278 gross $ volume with 272 properties selling for over $1M.
- Top Lender Analysis September 2020: There were 748 loans in September. 255 loans were related to sales. There were 373 REFI’s and 120 loans were timeshare related. 34% 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 September 2020 in the Shock Hill area -Breckenridge at $7,000,000.The top priced PSF was in the One Breckenridge Place condos – Breck at $1,187.
- Foreclosures: There were 3 Foreclosure actions in September ( all were timeshares), compared to 7 in September. There have been a total of 24 Foreclosure actions YTD 2020. There were no Bank sales in September.
- Purchaser Profile Abstract: Upper end sales were up again in September with 115 compared to 87 in August. Our buyers for real estate transactions for September 2020: Front Range demographic at 45% of our market, 15% are “local” and 39% 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 15 in September.
Historical Summit County Market Analysis
Click here for Archived Summit County Market Analysis