The Skinner Team

Market Stats

SUMMIT COUNTY
MARKET STATS

Here is where you can find all the latest info on the Summit County, CO market from Anne & Danielle of The Skinner Team.  This video covers Market Stats from November 2022 and information compiled by the Land Title Guarantee Company.

  • Here are December 2022 market and year-end highlights:

    • Market Analysis by Area for December 2022: There were a total of 121 transactions and $166,410,583 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,468,355, the average residential price was $1,246,491 and the average residential PSF was $715.
      • There was a large commercial sale in December: Element Hotel in Copper Mountain for $32M.
    • Market Analysis by Area 2022 (12 Months Full Year):  There are a total of 1794 transactions with $2,261,561,470 monetary volume. The average transaction price was $1,332,669, the average residential price was $1,326,089 and the average residential PPSF was $795.
    • Market Snapshot for Full Year 2022 vs Full Year 2021:  Average indicators for $: Single Family +20, Multi- Family +20% and Vacant Land +32%. Median Indicators for Single Family +24%, Multi- Family +14% and Vacant Land +39%.
      • Note -This snapshot compares 2021 to 2022, the upcoming sales year of 2023 will see mostly negatives as 2022 looks to be the top of the COVID bubble cycle, and values are trending lower.
    • Market Analysis % Change December and Full Year 2022:  Monetary volume in December 2022 was down 19% from December 2021. Transactions were down 34% from December 2021. Full year 2022, $ volume was 25% down from 2021, and transactions were 37% down from 2021.
    • Residential Cost Analysis:  Residential volume in December saw 95 transactions with $118,416,651 gross volume. There were 48 properties that sold for $1M and above in December.  There were 39 Single Family, 56 Multi-Family and 5 Vacant Land transactions in December 2022.  In 2022, there were 515 Single Family, 886 Multi Family residential sales in Summit County, and 86 Vacant Land sales.
    • Average Price History by Type 2022: Average price for residential Single Family: $2,060,049, Multi- Family: $899,464 and Vacant Land: $666,095. 
    • Comparative Historical Cost Analysis Comparison  2022-2021-2020: In 2022, there were 1,401 residential transactions and $1,857.850,212 gross $ volume with 686 properties selling for over $1M. In 2021, there were 2,354 transactions with $2,647,787,218 gross $ volume with 887 properties selling for over $1M. In 2020, there were 2,291 transactions with $2,069,655,256 gross $ volume with 658 properties selling for over $1M.
    • Top Lender Analysis December and 2022: There were 87 loans related to sales, 71 REFI’s and 136 timeshare loans in December, 28% of real estate deals closing with cash. There were a total of 4,414f loans 2022. There were a total of 1,199 loans related to sales, 67% of the 1,794 sales transactions.  There were 1,446 REFI’s and 1,769 timeshare loans. The remainder of the sales, 33% of the real estate closings were cash transactions at the time of closing. 
    • Foreclosures 2022: The year closed with 63 foreclosure actions, 47 were timeshare, 13 of the NED’s were withdrawn, 14 of the 63 actions ended with a PTD. 
    • Purchaser Profile Abstract:  New unit sales were 22 in December. There were 54 upper end sales in December. Our buyers for real estate transactions in 2022: local buyers at 27%, Front Range demographic at 41% and 31% are out of state buyers with 0% International. 

34 Year Residential Average Price Housing Index - Summit County

34 year residential Appreciations Rates

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