Summit County Colorado Market Report November-19

Market Trends

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Real Estate Advisor-November 2019 Market Report Courtesy of Land Title Guarantee CO.

Market Analysis % Change 2019 vs 2018: Monetary volume ($199,109,927) in October 2019 was up 9% from October 2018. Transactions (285) were up 21% from October 2018.  YTD 2019 Monetary Volume is pacing 7% ahead of YTD October 2018, and transactions are down 6%. Rising prices are why these numbers look like this. Get in on the appreciation party

Comparative Historical Cost Analysis; Average Indicators for $: Single Family +11%, Multi- Family +8% and Vacant Land -9%.                Median Indicators for $: Single Family +9%, Multi- Family +10% and Vacant Land -11%.                                    

Luxury Market is the hottest segment of the market;  -YTD '19 360 properties sold for a $1M and over  -YTD '18; 309 properties sold at $1M and over  -YTD '17; 287  properties sold at $1M and over. That's a 25% increase in just two years.                               

Time on Market; This is trending upwards. Median days on Market for February '19 was at 34, May was down to 15. October crept back up to 34. Average days has gone to 55 which means things may be slowing a little bit. This is an opportunity to negotiate. 

Buyer Demographics;  -Front Range; 43%,  -Local including relocating; 28% -Out of State; 29% -International; 0%. 29% of transactions were Ca$h.

Inventory is down near 500, typical for this time of year. One thing you can be confident of; if it still on the market the seller is motivated. Ski season has begun. You still have time to get in for the season for a great vacation or to receive those big rental proceeds check. The time has never been better, what is holding you back?!  

See The Complete Report from Land Title Guarantee Company