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August 2017

 

  • Market Analysis by Area for August 2017: The month of August was Summit’s best month so far in 2017! There were 272 transactions and $170,248,375 in monetary volume. Some trends for all 18 reported areas in August: $ 632,245 Average transaction price, $679,419 Average residential price and $424 PPSF.
  • Year to Date Market Analysis (8 months): Monetary volume in 2017 totaled $981,368,068 with 1577 transactions. $638,758 Average transaction price, $673,202 Average residential price and $426 PPSF.
  • Market Snapshot for Years 2017 vs 2016:  Average Indicators for $: Single Family +17%, Multi- Family +12% and Vacant Land 0%. Median Indicators for $: Single Family +22%, Multi- Family +10% and Vacant Land -9%.
  • Market Analysis % Change YTD 2017: Monetary volume ($170,248,375) in August 2017 was 22% higher than August 2016. Transactions (272) were down 4% to August 2016.  YTD 2017, monetary volume is up by 26% and transactions are up 8% compared to YTD 2016.
  • Residential Market Sales by Price Point: Residential volume in August had 231 transactions with $ 156,945,700 gross volume. There were 38 properties that sold for $1M and above in August. The most active price points were between $300K-$500K with transactions. There were 78 Single Family, 153 Multi-Family and 20 Vacant Land transactions in August.
  • Average Price History by Type 2017: Average price for residential Single Family: $1,096,406, Multi- Family: $460,631 and Vacant Land: $354,151.
  • Comparative Historical Cost Analysis 2017 YTD: There were 1313 residential transactions and $883,914,045 gross $ volume with 208 properties selling for $1M and over-compared to 2016, there were 1220 transactions and $683,932,493 gross $ volume, 121 properties at $1M and over.  In 2015, there were 1184 transactions with $641,544,640 gross $ volume, 110 properties at $1M and over.
  • Top Lender Graph: There were 478 loans in August, 63% (171) of the loans were related to sales, there were 129 REFI’s and 178 loans were timeshare related. 37% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in August in the Shock Hill subdivision. A Liftside Condo topped out the highest PPSF at $939. There were no bank sales in August. 
  • Foreclosures: Actions were a bit up with 4 in August 2017 compared to 2 in August 2016. There have been 35 Foreclosure actions filed YTD.
  • Purchaser Profile Abstract:  There were 40 upper end sales in August compared to 29 in July. Our buyers for real estate transactions in August were approximately Front Range demographic at 42% of our market, 25% are “local” and 33% are out of state buyers with 0% International. 
  • Land Title New Development Summary: This (page 16) shows all the new construction each month, Summit Sky Ranch started closing in August with 6, and there were a total of 15, same as July.

Click here for: Latest All Colorado Ski Counties Real Estate Market Analysis 2017