July 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 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 VacantLand +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.
Land Title Guarantee Company July 2018 Market Analysis