Summit County Market Report June 2018

Market Trends

Inventory is up, we are over 500 properties on the market now for the first time this year. Now is the best time for you to be searching for your Rocky Mountain Dream Home.    

Market Analysis % Change May 2018 vs 2017; We are still on track for another record year, barely: Monetary volume ($86,558,600) in May 2018 was up 8% from May 2017. Transactions (140) were down 1% from May 2017. YTD 2018 monetary volume is up 4% from YTD 2017, and transactions are up 1%. YTD 2018 compared to YTD 2017. 

Comparative Historical Cost Analysis; Average Indicators for $: Single Family +1%, Multi- Family +8% and Vacant Land +17%. Median Indicators for $: Single Family +7%, Multi- Family +7% and Vacant Land +10%.                                    

Luxury Market Continues to Slow; -YTD '18; 104 properties sold for a $1M and over -YTD 2017; 127 properties sold at $1M and over      -YTD 2016; 61 properties sold at $1M and over.                               

Time on Market; Demand has increased again, Median days on Market was only 13 days in July '17 and dropped to an amazing median of 11 days on market for April 2018. May '18 saw DOM drop to a ridiculously low 7! Move quickly if you see something you like, it's not going to wait for you. 

Buyer Demographics;  -Front Range; 20%, half of our normal level -Local including relocating; 48% (another big jump from last month) -Out of State; 31% -International; 0%. 27% of transactions were Ca$h, off 10% from last month probably due to more locals buying.

The market is Red Hot. How long can you wait? Interest rates and prices are creeping up and predicted to go higher.   

See the Complete Report from Land Title Guarantee Company