Summit County Market Report

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

Market Analysis % Change January 2019 vs 2018, Are we seeing a slowdown?: Monetary volume ($113,690,300) in January 2019 was up 30% from January 2018. Transactions (138) were down 5% from January 2018. We still have very low inventory. Less than 400 properties currently available for sale. 

Comparative Historical Cost Analysis; ~Average Indicators for $: Single Family 9%, Multi- Family +1% and Vacant Land +1%.    ~Median Indicators for $: Single Family +3%, Multi- Family -4% and Vacant Land +38%.       

Luxury Market Continues to stay strong!; -Jan '19 17 properties sold for a $1M and over  -Jan '18; 17 properties sold at $1M and over -Jan '16; 23 properties sold at $1M and over. 

Time on Market; Demand still crazy, 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. January is still only 23! Sell your property now and sell it fast! 

Buyer Demographics;  -Front Range; 46%, -Local including relocating; 28% -Out of State; 27% -International; 0%. In 2018 35% of transactions were Ca$h.

With less than 400 properties on the market right now, if you see something you like snatch it up because it may be a while before you see something good again. 

See the complete report from Land Title