To Our Summit County Customers and Community,
Please note that you will see new additions within the monthly report this year: One key change is that there is a cumulative total bar for 2022 in all the resort counties on page 2. For example, the February report will show the gross volume for January in all resort communities, then each month that number will be updated with the last full month so there is a cumulative running total. Also, on page 21 there is a helpful breakdown on Deed Restricted unit sales.
Here are highlights:
- Market Analysis by Area for February 2022: There were a total of 107 transactions and $120,161,549 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,205,520, average residential price was $1,312,406 and average residential PSF was $749.
- Market Analysis by Area 2022 (2 Months) YTD: There are a total of 231 transactions with $286,419,970 monetary volume. the average transaction price is $1,305,404, the average residential price is $1,377,942 and the average residential PPSF is $746.
- Market Snapshot for FULL Years 2022 vs 2021: Average Indicators for $: Single Family +36, Multi- Family +7% and Vacant Land +27%. Median Indicators for Single Family +36%, Multi- Family +6% and Vacant Land +17%.
- Market Analysis % Change YTD February 2022: Monetary volume in February 2022 was down -10% from February 2021. Transactions were down 29% from February 2021. YTD 2022, $ volume is pacing 9% up from YTD 2021, and transactions are 26% down from YTD 2021.
- Residential Cost Analysis: Residential volume in February had 81 transactions with $106,304,854 gross volume. There were 39 properties that sold for $1M and above in February. There were 31 Single Family, 50 Multi-Family and 10 Vacant Land transactions in February 2022.
- Average Price History by Type- 2022: Average price for residential Single Family: $2,330,301 Multi- Family: $801,514 and Vacant Land: $641,265
- Comparative Historical Cost Analysis Comparison 2022-2021-2020: YTD 2022, there were 183 residential transactions and $252,163,353 gross $ volume with 89 properties selling for over $1M. YTD 2021, there were 245 transactions with $261,665,817 gross $ volume with 68 properties selling for over $1M. YTD 2020, 209 transactions with $175,227,700 gross $ volume with 58 properties selling for over $1M.
- Top Lender Analysis February 2022: There were 365 loans in February, 77 loans were related to sales, there were 174 REFI's and 114 loans were timeshare related. 28% of the real estate closings were cash transactions.
- Foreclosure 2022 Update: There were 2 Foreclosures in February 2022 compared to 1 last February 2021.
- Purchaser Profile Abstract: There were 40 upper end sales in February 2022. Our buyers for real estate transactions for February 2022: Local buyers at 28%, with the Front Range demographic at 46% and 26% were out of state buyers with 0% International. There is also a graph included showing demographic trends through 2013 on page 19.
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. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source. You are welcome to utilize this link within your own websites.