Summit County Market Update: August 2016 Courtesy of Land Title Guarantee
Buyers are still active as the number of transactions increases.
Market Analysis: % Change Year over Year, 2015 vs. 2016:
- Monetary volume ($139,223,249) in August was down
- 2% compared to August 2015.
- Number of transactions (282) was up 6% in August compared to August 2015.
- YTD 2016, monetary volume is pacing flat at
- 3% compared to YTD 2015, and transactions continue that same trend at
- 1% compared to YTD 2016.
Demand is still steady as days on market fell from a median of 81 for February sales to just 24 for May sales and 18 days in June but climbed slightly to 21 in August. 38% of the real estate closings were cash transactions.
Luxury Market
- There were 22 properties that sold for $1M and above in August. There were 21 properties that sold for $1M and above in July. There were 17 properties that sold for $1M and above in June. 15 properties sold for $1M and above in May.
- YTD ~121 properties sold for $1M+. In 2015, ~110 properties sold at $1M and over, and in 2014, ~72 properties sold at $1M and over in the first 8 months.
Land Title Purchaser Highlights: our buyers for real estate transactions in May
- 44% of our buyers were from the Front Range
- 30% are local full-time residents, which includes "retirees" relocating here
- 25% are out-of-state buyers, up from 24% in June.
- 1% of buyers were international.
See the complete report at August Land Title Co. Market Report.
There has never been a better time to buy in the Summit. Call me today!
