No Comments

July Market Stats

Summit County Market Analysis
  • Market Analysis by Area for July 2018: There were a total of 211 transactions and $151,066,431 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $750,087, average residential price was $818,589 and average residential PPSF was $475.
  • Year to Date Market Analysis ( 7 months): Monetary volume in YTD 2018 totaled $871,481,096 with 1288 transactions: $696,339 average transaction price, $726,883 average residential price and average residential PPSF $462.
  • Market Snapshot for Years 2018 vs 2017:  Average Indicators for $: Single Family +2%, Multi- Family +8% and Vacant Land +13%. Median Indicators for Single Family +7%, Multi- Family +8% and Vacant Land +8%.

  • Market Analysis % Change 2018: Monetary volume ($151,066,431) in July 2018 was up 2% from July 2017. Transactions (211) were down 17% from July 2017.  YTD 2018 monetary volume is up 7% from YTD 2017, and transactions are down/flat 1% YTD 2018 compared to YTD 2017.
  • Residential Cost Analysis:  Residential volume in July had 167 transactions with $136,704,300 gross volume. There were 36 properties that sold for $1M and above in July. The most active price points were between $300K-$500K with 51 transactions. There were 63 Single Family, 104 Multi-Family and 12 Vacant Land transactions.
  • Average Price History by Type 2018: Average price for residential Single Family: $1,291,659, Multi- Family: $532,017 and Vacant Land: $387,075.
  • Comparative Historical Cost Analysis YTD 2018: There were 1023 residential transactions and $743,601,484 gross $ volume with 179 properties selling for $1M and over-compared to 2017, there were 1082 transactions and $726,968,345 gross $ volume, 170 properties at $1M and over.  In 2016, there were 992 transactions with $558,162,218 gross $ volume, 99 properties at $1M and over.
  • Top Lender Analysis July 2018: There were 531 loans in July, 64% (135) of the loans were related to sales, there were 119 REFI’s and 277 loans were timeshare related. 36% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 11 of the Market Analysis- You can note the higher priced sale in July in the Shock Hill area at $4.7M. The top priced PSF in the Breckenridge at Liftside Condos at $956.
  • Foreclosures:  There were 2 Foreclosure action in July compared to 5 last July 2017. A total of 53 Foreclosure actions have been taken YTD 2018.
  • Purchaser Profile Abstract:  There were 38 upper end sales in July. Our buyers for real estate transactions for 2018: Front Range demographic at 45% of our market, 34% are “local” and 20% are out of state buyers with 0% International. Please note a new 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 20 in July.