Summit County Market Update

Happy Tuesday Morning to YOU!

What's the Summit County real estate market up to? 

January 2014 Highlights:

• Market Analysis by Area for January: The first month of  2014 was decent and very comparable to January 2013 with $52,155,100 in gross sales and 102 transactions. The average transaction price was $514,524. The average residential Price/square foot was $302. Frisco had a very high end commercial sale ( Best Western) that closed in January.
• Market Snapshot for 2014 vs. 2013:  Values are as follows: Single Family -2%, Multi- Family +1% and Vacant Land -15% for the Average, and Median indicators: Single Family +17%, Multi- Family  -8% and Vacant Land +35%.  We are only comparing one month to the full year of 2013 at this time. 
• Market Analysis % Change showing years 2004-2014 YTD: January monetary volume ($52,155,100) was down 2% from January 2013. Transactions (102) were down 6% from January 2013. 
• Residential Market Sales by Price Point : Residential volume in January had 83 transactions with $38,988,500 gross volume.  There were 7 properties that sold for $1M and above in January.  The most active price points in January continue to be between $200K -$300K.   January had 26 Single family, 57 Multi-family and 7 vacant land transactions.
• 2014 Average Price History: Average residential pricing continues to be consistent as of January - Single family is $736,719, Multi- family is $347,961  and Vacant Land is $276,643. Our market is holding value!!
• Loans vs Cash: There were 627 loans in January, 48%  were related to sales and 52% of the sales were cash at closing.
• Buyer Highlights:  In January, the majority of second homeowner real estate transactions continue to be the Front Range demographic at 48% of our market, only 22% are local and 30% are out of state buyers YTD. (Information courtesy of Land Title Guarantee Company)

For a more in-depth look at the individual towns in Summit, please click below!! 

1) Summit County Update

2) Breckenridge

3) Dillon

4) Frisco

5) Keystone

6) Wildernest_Silverthorne

And Here's Your Morning Coffee!

Check out this really great property in Wildernest: