Land Title just published their second quarter statistics for some of the most popular mountain communities. I think one of the things that surprised me most is that in Pitkin and San Miguel where Aspen and Telluride are, over 50% of the buyers are from out of state. This is a very substantial proportion. Both of these areas have their own airports which make the access from other states fairly easy, however, the drive time from Denver is well over 3 hours.
On the other hand, Grand County has the largest portion of Front Range buyers followed by Summit County then Eagle County. It seems that the proportion of Front Range buyers is directly correlated to the distance. When considering a mountain home, your travel time can definitely be a big factor as you don’t want to spend your entire weekend driving. If you have been thinking about a mountain home, contact me today!
| Mixed Stats for Second Quarter for Real Estate Transactions
Land Title is a local company within Colorado and has been in business since 1967. To help partner with our customers and local communities, we’d like to share some valuable information on the real estate market in seven of our Colorado mountain communities of Aspen (Pitkin County), Breckenridge (Summit County), Steamboat Springs (Routt County), Glenwood Springs (Garfield County), Winter Park (Grand County), and Vail (Eagle County) and Telluride (San Miguel County).
2016 Second Quarter Highlights from the Seven Counties:
- Buyer Profile: 51.49% local, 22.36% Front Range, 25.54% Out-Of-State, .62% international.
- Three counties saw an increase in the number of transactions compared to last year’s Q2 numbers. Grand had the biggest increase with 40.00%.
- Average residential price up in Garfield, Pitkin and Summit counties. Top county was Garfield with a 10.65% increase.
- In gross volume sales, Garfield county saw the biggest increase at 21.30%
Mountain Resorts Q2 Analysis |
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- Median Residential Price up 3.16% from Q2 LY numbers
- Gross Sales Volume down 13.58% from LY numbers
- Average Residential Price down 13.01% from Q2 LY numbers
- Real Estate Transactions down 1.75% from Q2 LY numbers
- Buyer Profile: 55.67% Local, 15.13% Front Range, 28.01% Out-of-State, 1.18% International
Eagle County June Analysis |
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- Median Residential Price up .26% from Q2 LY numbers
- Average Residential Price up 10.65% from Q2 LY numbers
- Gross Sales Volume up 21.30% from LY numbers
- Real Estate Transactions up 6.37% from Q2 LY numbers
- Buyer Profile: 88.93% local, 3.14% Front Range, 7.79% Out-of-State, 0.14% international
Garfield County June Analysis |
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- Median Residential Price up 2.07% from Q2 LY numbers
- Average Residential Price down 8.47% from Q2 LY numbers
- Gross Sales Volume up 18.18% from LY numbers
- Real Estate Transactions up 40.00% from Q2 LY numbers
- Buyer Profile: 30.63% local, 53.29% Front Range, 16.08% Out-of-State, 0% international
Grand County June Analysis |
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- Median Residential Price down 3.09% from Q12 LY numbers
- Average Residential Price up 1.83% from Q2 LY numbers
- Gross Sales Volume down 41.86% from LY numbers
- Real Estate Transactions down 36.71% from Q2 LY numbers
- Buyer Profile: 43.12% local, 4.59% Front Range, 51.38% Out-of-State, .92% international
Pitkin County June Analysis |
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- Median Residential Price up 10.0% from Q2 LY numbers
- Average Residential Price down 1.42% from Q2 LY numbers
- Gross Sales Volume up 18.5% from LY numbers
- Real Estate Transactions up 20.74% Q2 LY numbers
- Buyer Profile: 54.86% local, 14.99% Front Range, 30.14% Out-of-State, 0% International
Routt County June Analysis |
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- Median Residential Price is down 31.3% from Q2 LY numbers
- Average Residential Price down 6.34% from Q2 LY numbers
- Gross Sales Volume down 10.17% from LY numbers
- Real Estate Transactions are flat from Q2 LY numbers
- Buyer Profile: 46.03% Local, 1.19% Front Range, 50.79% Out-of-State, 1.98% International
San Miguel County June Analysis |
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- Median Residential Price up 5.42% from Q2 LY numbers
- Average Residential Price up 4.59% from Q2 LY numbers
- Gross Sales Volume down .91% from LY numbers
- Real Estate Transactions down 7.59% from Q2 LY numbers
- Buyer Profile: 33.72% local, 35.18% Front Range, 30.48% Out-of-State, 0.63% International
Summit County June Analysis
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Brooke Roberts