Real Estate Advisor—Sept '17 Market Report Courtesy of Land Title Guarantee Co.
Market Analysis % Change Year over Year 2016 vs. 2017: The month of August was Summit's best month so far in 2017! There were 272 transactions and $170,248,375 in monetary volume, 22% higher than in August 2016. YTD 2017, monetary volume is up by 26%, and transactions are up 8% compared to YTD 2016.
Comparative Historical Cost Analysis
Average Indicators for $:
- Single Family: +17%,
- Multi-Family: +12%,
- and Vacant Land: 0%
Median Indicators for $:
- Single Family: +22%,
- Multi-Family: +10%,
- and Vacant Land: -9%.
Luxury Market Surges to New Highs:
- YTD 2017: 208 properties sold for $1M and over
- YTD 2016: 121 properties sold at $1M and over
- YTD 2015: 110 properties at $1M and over. That’s almost double in two years!
Time on Market: Demand is still in a frenzy as median days on market has held steady; it was 25 days for December 2016 and only 16 days in June '17. If you see something you like, you need to make an offer NOW!
Buyer Demographics:
- Front Range: 42%
- Local, including relocating: 25%
- Out of State: 33%
- International: 0%.
- 37% of the real estate closings were cash transactions.
The market has never been better, never.
There may never be a better time. Call me now.
