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.
-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!*