Summit County Market Update July 2016 Courtesy of Land Title Guaranty Co.
Sales were mixed in July. Properties continue to move quickly as days on Market which are still rock bottom.
Market Analysis % Change Year over Year 2015 vs 2016:
-Monetary volume ($104,621,918) in July was down -11% compared to July 2015.
-Number of transactions (215) was up 6% in July compared to July 2015.
-YTD 2016, monetary volume down -3% compared to YTD 2015 and transactions are also down only -3% compared to YTD 2016.
-Lack of sales is due to lack of availability. Demand is still growing as days on market fell from a median of 81 for February sales to just 24 for May sales, 18 days in June and 11 median days on the market for July sales.
Luxury Market;
-There were 21 properties that sold for $1M and above in July. There were 17 properties that sold for $1M and above in June. There were 15 properties that sold for $1M and above in May.
-YTD; 99 properties sold for $1M and over. In 2015~89 properties sold at $1M and over and in 2014~65 properties at $1M and over in the first 7 months.
Land Title Purchaser Highlights; our buyers for real estate transactions in May
-34% of our buyers were from the Front Range
-34% are local full time residents which includes “retirees” relocating here
-31% are out of state buyers, up from 24% in June.
-1% of Buyers were International
See the complete report at; July Land Title Co. Market Report
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