Latest Summit County Market Stats Update

Here is where you can find all the latest info on the Summit County, CO market from Anne & Molly of The Skinner Team. Including our monthly video series and information compiled by the Land Title Guarantee Company.

A Review of January 2019 Market Stats Info:

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December and Year End 2018 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 December 2018: There were a total of 178 transactions and $143,100,728 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $816,769, average residential price was $804,363 and average residential PSF was $459.
• Year to Date Market Analysis ( 12 months): Monetary volume in YTD 2018 totaled $1,748,701,487 with 2507 transactions: $722,436 average transaction price, $752,139 average residential price and average residential PSF $469.
• Market Snapshot for Years 2018 vs 2017:  Average Indicators for $: Single Family +5%, Multi- Family +10% and Vacant Land +13%. Median Indicators for Single Family +7%, Multi- Family +10% and Vacant Land +16%.
• Market Analysis % Change 2018: Monetary volume ($143,100,278) in December 2018 was down 6% from December 2017. Transactions (178) were down 23% from December 2017.  Full year 2018 monetary volume is up 5% from 2017, and transactions are down 4% in 2018 compared to  2017.
• Residential Cost Analysis:  Residential volume in December had 147 transactions with $118,241,300 gross volume. There were 32 properties that sold for $1M and above in December  The most active price points were between $500K-$600K with 19 transactions, also a burst in the price range of $1M -$1.5 with 19 transactions in December. There were 59 Single Family, 88 Multi-Family and 16 Vacant Land transactions. The 2018 year had at total of 736 Single Family, 1258 Multi- Family and 192 Vacant Land Residential transactions.
• Average Price History by Type in  2018: Average price for residential Single Family: $1,142,905, Multi- Family: $523,519 and Vacant Land: $366,814.
• Comparative Historical Cost Analysis 2018: There were 1994 residential transactions and $1,499,765,748 gross $ volume with 381 properties selling for $1M and over.  In 2017, there were 2185 residential transactions and $1,499,595,769 gross $ volume with 342 properties selling for over $1M. In 2016, there were 2087 transactions with $1,210,067,633 gross $ volume with 225 properties selling for over $1M.
• Top Lender Analysis December and full year 2018: There were 389 loans in December. 68% of purchasers closing with financing at the time of the sale, there were 87 REFI’s and 181 loans were timeshare related. 32% of the real estate closings were cash transactions. In 2018, the number of real estate closings that were cash averaged 33%.
• Market Highlights:  Please see page 11 of the Market Analysis- You can note the higher priced sale in December in the Lewis Ranch area in Copper at $3,500,000. The top priced PSF was in the Tyra area in Breckenridge at $1,042.
• Foreclosures:  There were 4 Foreclosure actions taken in December 2018 compared to 10 in December 2017. In total for 2018, there are 72 Foreclosure actions with 28 withdrawn at year-end.
• Purchaser Profile Abstract:  There were 39 upper end sales in December 2018 compared to 43 in November 2018.. Our buyers for real estate transactions for 2018: Front Range demographic at 42% of our market, 30% are “local” and 28% are out of state buyers with 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 26 in December.

Land Title Guarantee Company December 2018 Market Analysis