Mid-October 2021 Market Stats Update

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