Below are details about Summit County for June, as well as Q2 2023.
• Market Analysis by Area for June 2023: There were a total of 128 transactions and $141,899,800 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,171,322, the average residential price was $1,260,669 and the average residential PSF was $795.
• Market Analysis by Area 2022 (6 Months 2nd Quarter) YTD: There were a total of 649 transactions with $744,874,039 monetary volume. The average transaction price was $1,213,122, the average residential price was $1,315,607 and the average residential PPSF was $788.
• Market Snapshot for YTD 2023 2nd Q 2 vs Full Year 2022: Average Indicators for $: Single Family -3%, Multi- Family +5% and Vacant Land -14%. Median Indicators for Single Family -2%, Multi- Family +9% and Vacant Land -17%.
• Market Analysis % Change YTD June2023 2nd Q: Monetary volume in June 2023 was down 25% from June 2022. Transactions were down 20% from June 2022. YTD 2023, monetary volume is pacing 34% down and 25% down with transactions from YTD 2022.
• Residential Cost Analysis: Residential volume in June had 94 transactions with $118,502,855 gross volume. There were 50 properties that sold for $1M and above in June. There were 30 Single Family, 64 Multi-Family and 7 Vacant Land transactions in June.
• Average Price History by Type YTD 2023 2nd Q: Average price for residential Single Family: $2,004,223, Multi- Family: $944,316 and Vacant Land: $570,788.
• Comparative Historical Cost Analysis Comparison 2023-2022-2021 (2nd Q): YTD 2023, there were 491 transactions with $645,963,120 gross monetary volume with 243 properties selling for over $1M. YTD 2022, there were 683 transactions with $939,482,232 gross $ volume with 360 properties selling for over $1M. YTD 2021, there were 1080 transactions with $1,132,888,799 gross $ volume with 356 properties selling for over $1M.
• Top Lender Analysis June 2023: There were at total of 253 loans, 75 loans related to sales, 69 REFI's and 109 timeshare loans in June, with 41% of real estate deals closing with cash.
• Foreclosure Update: No foreclosure actions in June.
• Purchaser Profile Abstract: New unit sales were up with 7 in June compared to 4 in May There were 54 upper end sales in June compared to 60 in May 2023. Our buyers for real estate transactions for YTD 2023 2nd Q: Local buyers 30%, Front Range demographic at 37% and 33% were out of state buyers with 0% International.
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. Data Source: Land Title Guarantee Company.