October real estate in Summit County tops last months record with $360M in gross volume and 442 transactions!

  • Market Analysis by Area for October 2020: There were a total of 442 transactions and $360,036,310 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions was $836,840, average residential price was $907,528 and average residential PSF was $527.
  • YTD 2020 Market Analysis by Area (10 months): There were a total of 2123 transactions, and $1,726,919,986 in monetary volume. The average transaction price for all 18 reported areas was $834,787, average residential price was $898,740 and average residential PPF was $517.
  • Market Snapshot for FULL Years 2020 vs 2019:  Average Indicators for $: Single Family +7% change, Multi- Family +7% and Vacant Land -2%. Median Indicators for Single Family +11%, Multi- Family +10% and Vacant Land 5%.
  • Market Analysis % Change YTD Year 2020: Monetary volume ($360,036,310) in October 2020 was up 81% from October 2019. Transactions (442) were up 55% from October 2019.  YTD 2020 Monetary Volume is pacing 12% up from YTD 2019. YTD 2020 transactions are pacing 7% up to YTD 2019. 
  • Residential Cost Analysis:  Residential volume in October had 364 transactions with $330,340,010 gross volume. There were 95 properties that sold for $1M and above in October.  There were 128 Single Family, 236 Multi-Family and 36 Vacant Land transactions.
  • Average Price History by Type- YTD Year 2020: Average price for residential Single Family: $1,349,741, Multi-family: $601,687 and Vacant Land: $339,415.
  • Comparative Historical Cost Analysis Comparison YTD 2020-2019-2018: YTD 2020, there were 1725 residential transactions and $1,550,326,356 gross $ volume with 488 properties selling for over $1M. YTD 2019, there were 1554 transactions with $1,279,897,406 gross $ volume with 360 properties selling for over $1M. YTD 2018, there were 1662 transactions with $1,243,846,478 gross $ volume with 309 properties selling for over $1M.
  • Top Lender Analysis October 2020: There were 738 loans in October. 322 loans were related to sales. There were 383 REFI's and 33 loans were timeshare related. 27% of the real estate closings were cash transactions.
  • Market Highlights:  Please see page 11 of the Market Analysis- Note the the higher priced sale in October 2020 in the Timber Trail area -Breckenridge at $4.800,000. The top priced PSF was in the Mountain Thunder condos - Breck at $972.
  • Foreclosures: There was one Foreclosure action in October 2020 compared to 8 in October 2019. There have been a total of 25 Foreclosure actions YTD 2020. There were no Bank sales in October.
  • Purchaser Profile Abstract:  Upper end sales were down in October with 98 compared to 115 in September. Our buyers for real estate transactions for October 2020: Front Range demographic at 45% of our market, 19% are "local" and 36% are out of state buyers with 0% International.
  • Land Title New Development Summary: This (page 18) shows all the new construction each month, there were 28 in October.