Here are market highlights for August:
- Market Analysis by Area for August 2022: There were a total of 194 transactions and $211,817,519 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,132,476, the average residential price was $1,232,746 and the average residential PSF was $753.
- Market Analysis by Area 2022 (8 Months) YTD: There are a total of 1195 transactions with $1,529,484,904 monetary volume. The average transaction price was $1,342,925, the average residential price was $1,337,339 and the average residential PPSF was $805.
- Market Snapshot for YTD Year 2022 vs Full Year 2021: Average Indicators for $: Single Family +22, Multi- Family +22% and Vacant Land +30%. Median Indicators for Single Family +31%, Multi- Family +14% and Vacant Land +35%.
- Market Analysis % Change YTD August 2022: Monetary volume in August 2022 was down 30% from August 2021. Transactions were down 26% from July 2021. YTD 2022, $ volume is pacing 16% down from YTD 2021, and transactions are 35% down from YTD 2021.
- Residential Cost Analysis: Residential volume in August had 151 transactions with $186,144,693 gross volume. There were 66 properties that sold for $1M and above in August. There were 57 Single Family, 94 Multi-Family and 6 Vacant Land transactions in August 2022.
- Average Price History by Type- YTD 2022: Average price for residential Single Family: $2,100,530, Multi- Family: $911,912 and Vacant Land: $656,560.
- Comparative Historical Cost Analysis Comparison YTD 2022-2021-2020: YTD 2022, there were 922 residential transactions and $1,233,026,704 gross $ volume with 465 properties selling for over $1M. YTD 2021, there were 1512 transactions with $1,623,212,899 gross $ volume with 528 properties selling for over $1M. YTD 2020, 1051 transactions with $909,615,811 gross $ volume with 286 properties selling for over $1M.
- Top Lender Analysis August 2022: There were 352 loans in August. Of these, 123 loans were related to sales, there were 123 REFI's and 106 loans were timeshare related. 37% of the real estate closings were cash transactions.
- Foreclosure 2022 Update: There were 3 Foreclosure actions recorded in August 2022 (all three were for real property) versus 1 last August 2021. There are a total of 31 Foreclosure actions YTD.
- New Unit Sales: 29 in August (Clearwater Lofts closings mostly).
- Purchaser Profile Abstract: There were 74 upper end sales in August 2022, compared to 47 in July. Our buyers for real estate transactions for August 2022: Local buyers at 24%, with the Front Range demographic at 44% and 31% are out of state buyers with 1% 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.