Market Update: Buyers are still active

Real Estate

Summit County Market Update August 2016 Courtesy of Land Title Guarantee 

Buyers are still active as # 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, 18 days in June but climbing 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 a $1M+. In 2015~110 properties sold at $1M and over and in 2014~72 properties 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!*