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 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 a $1M and over -YTD 2016; 121 properties sold at $1M and over -YTD 2015; 110 properties at $1M and over. That’s almost double in two years!
Time on Market; Demand is still in a frenzy as median days on market has held steady; it was 25 days for December 2016 and only 16 days in June '17. If you see something you like you need to make an offer NOW!
Buyer Demographics; -Front Range; 42% -Local including relocating; 25% -Out of State; 33% -International; 0%. -37% of the real estate closings were ca$h tran$action$.
The market has never been better, never.
Prices are rising new listings are getting scarcer. Join the appreciation party!
There may never be a better time. Call me now.