Summit County Market Update September 2016

Buying

Median Days on Market creeps upward

Market Analysis % Change Year over Year 2015 vs 2016:

-Monetary volume ($174,179,706) in September was up 5% compared to 2015.               

-Number of transactions (297) was fairly flat at -1% compared to September 2015.     

-YTD 2016, monetary volume is pacing flat at -1% 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 27 in Sept. 30% of the real estate closings were cash transactions. 

Luxury Market growth continues;

-There were 29 properties that sold for $1M and above in Sept. 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~150 properties sold for a $1M+. In 2015~140 properties sold at $1M and over and in 2014~91 properties at $1M and over in the first 9 months.

Land Title Purchaser Highlights; our buyers for real estate transactions in September;

-38% of our buyers were from the Front Range

-26% are local full time residents which includes “retirees” relocating here

-36% are out of state buyers, way up from 24% in June.

-0% of Buyers were International

See the complete report at; September Land Title Co. Market Report

*There has NEVER been a better time to buy in the Summit. Call me today!*