February 2019 Market Report
The following data is provided as a courtesy of Land Title. 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.
February 2019 Highlights
Market Analysis by Area for February 2019: There were a total of 132 transactions and $104,726,584 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $834,700, average residential price was $838,146 and average residential PSF was $486.
Market Analysis by Area YTD 2019 - 2 Months: There was a total of $218,416,884 with 270 transactions. The average transaction price was $840,193, the average residential price was $815,784 and the average PPSF was $472.
Market Snapshot for Years 2019 vs 2018: Average Indicators for $: Single Family +17%, Multi- Family -1% and Vacant Land +1%. Median Indicators for Single Family +7%, Multi- Family -5% and Vacant Land +34%.
Market Analysis % Change 2019: Monetary volume ($104,726,584) in February 2019 was up 17% from February 2018. Transactions (132) were down 5% in from February 2018.
Residential Cost Analysis: Residential volume in February had 102 transactions with $85,490,919 gross volume. There were 25 properties that sold for $1M and above in February The most active price points were between $300K-$500K with 29 transactions. There were 36 Single Family, 66 Multi-Family and 6 Vacant Land transactions.
Average Price History by Type- February 2019: Average price for residential Single Family: $1,451,047, Multi- Family: $503,837 and Vacant Land: $373,900.
Comparative Historical Cost Analysis Comparison 2019-2018 YTD: YTD 2019, there were 212 residential transactions and $172,946,219 gross $ volume with 48 properties selling for over $1M. YTD 2018, there were 216 transactions with $155,326,263 gross $ volume with 35 properties selling for over $1M. YTD 2017, there were 213 transactions with $143,343,260 with 34 properties selling for over $1M.
Top Lender Analysis February 2019: There were 417 loans in February. 70% of purchasers closing with financing at the time of the sale, there were 83 REFI's and 241 loans were timeshare related. 30% of the real estate closings were cash transactions.
Market Highlights: Please see page 11 of the Market Analysis- Note the higher priced sale in February 2019 in the Highland's area in Breckenridge at $3,995,000. The top priced PSF was in the Water House condos in Breckenridge at $975.
Foreclosures: There were 2 Foreclosure actions taken in February 2019 compared to 6 in February 2018.
Purchaser Profile Abstract: There were 30 upper end sales in February 2019 same as January 2019. Our buyers for real estate transactions for February 2019: Front Range demographic at 54% of our market, 23% are 'local' and 22% are out of state buyers with 1% International. Please note 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 15 in February.Click Here To View The Full Report.
As always, please feel free to contact me anytime with questions. I look forward to hearing from you!
All the best,
Omni Real Estate Company
'Your Guide to Summit County Real Estate'
Certified Negotiation Expert (CNE)
Resort & Second Property Specialist (RSPS)
Short Sale and Foreclosure Representative (SFR)
Blog Archive2019-04-01 10:16:02
February 2019 Market Report
January 2019 Market Report
December/Year End 2018 Market Report
November 2018 Market Report
October 2018 Market Analysis
September 2018 Market Analysis
August 2018 Market Analysis
July 2018 Market Report
June 2018 Market Analysis