Summit topped $3B in Gross Sales Volume in 2021, which is 31% above the record setting year of 2020 and almost double 2019. Highlights for December 2021 are below.
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
Market Analysis by Area for December 2021: There were a total of 183 transactions and $205,268,620 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,166,045, average residential price was $1,177,393 and average residential PSF was $704.
Market Analysis by Area YTD 2021 (12 Months): There were a total of 2868 transactions totaling $3,053,165,389 in monetary volume. Average transaction price was $1,090,082, average residential price was $1,117,682 and average residential PPF was $677.
Market Snapshot for FULL Years 2021 vs 2020: Average Indicators for $: Single Family +24, Multi- Family +24% and Vacant Land +37%. Median Indicators for Single Family +21%, Multi- Family +22% and Vacant Land +38%.
Market Analysis % Change YTD December 2021 and Final 2021 Recap:Monetary volume in December 2021 was down 13% from December 2020. Transactions were down 35% from December 2020. Final 2021 numbers, $ volume is 31% up and transactions are up 2% from full year 2020.
Residential Cost Analysis: Residential volume in December had 148 transactions with $174,254,119 gross volume. There were 70 properties that sold for $1M and above in December. There were 59 Single Family, 89 Multi-Family and 14 Vacant Land transactions in December 2021. In 2021, there were a total of 895 Residential Single Family, 1459 Multi Family and 180 Vacant Land transactions.
Average Price History by Type- 2021: Average price for residential Single Family: $1,717,028, Multi- Family: $750,022 and Vacant Land: $504,480.
Comparative Historical Cost Analysis Comparison 2021-2020-2019:Full year 2021, there were 2,354 residential transactions and $2,631,022,363 gross $ volume with 887 properties selling for over $1M. In 2020, there were 2291 transactions with $2,069,655,256 gross $ volume with 658 properties selling for over $1M. In 2019, 1933 transactions with $1,586,910,706 gross $ volume with 454 properties selling for over $1M.
Top Lender Analysis December 2021 and Full Year 2021 There were 463 loans in December, 127 loans were related to sales, there were 227 REFI's and 109 loans were timeshare related. Cash transactions made up 31% of real estate closings. In 2021, there were 7.016 loans, 1,917 loans were related to sales, there were 3,474 REFI"s and 1,625 loans related to timeshares. 33% of the real estate closings were cash transactions in 2021.
Foreclosure 2021 Update: The year of 2021 closed out with 63 total foreclosure actions - 56 of those were for timeshares.
Market Highlights: Please see page 11 of the Market Analysis. Note the higher priced sale in December 2021 in Breckenridge at $5,250,000. The top priced PSF was in Breckenridge (One Ski Hill Place) at $1821.
Purchaser Profile Abstract: There were 76 upper-end sales in December 2021 compared to 93 in November. Our buyers for real estate transactions for December 2021: Local buyers are at 23%, Front Range, 44% , Out of State ,33% and 0% International buyers. There is also a graph included showing demographic trends through 2013 on page 18.