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Summit County Colorado May Market Analysis

Brett Rudolph July 5, 2022

Here are market highlights for May:

  • Market Analysis by Area for May 2022: There were a total of 156 transactions and $234,963,489 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,547,752. The average residential price was $1,518,022 and average residential PPSF was $875.
  • Market Analysis by Area 2022 (5 Months) YTD: There are a total of 708 transactions with $932,895,763 in monetary volume. The average transaction price was $1,360,248, the average residential price was $1,373,448 and the average residential PPSF was $815.
  • Market Snapshot for YTD 2022 vs 2021: Average Indicators for $: Single Family +30, Multi- Family +21% and Vacant Land +26%. Median Indicators for $: Single Family +39%, Multi- Family +11% and Vacant Land +30%.
  • Market Analysis % Change YTD May 2022: Monetary volume in May 2022 was down 12% from May 2021. Transactions were down 38% from May 2021. YTD 2022, dollar volume is pacing 4% down from YTD 2021, and transactions are 33% down from YTD 2021.
  • Residential Cost Analysis: Residential volume in May saw 125 transactions with $189,752,701 in gross volume. There were 79 properties that sold for $1M and above in May. There were 49 single-family, 76 Multi-Family, and 8 Vacant Land transactions.
  • Average Price History by Type – YTD 2022: Average price for residential Single Family was $2,240,094, Multi-Family was $906,792, and Vacant Land was $637,042.
  • Comparative Historical Cost Analysis Comparison 2022-2021-2020: YTD 2022, there were 560 residential transactions and $769,130,717 in gross volume, with 290 properties selling for over $1M. YTD 2021, there were 835 transactions with $878,354,278 gross volume, with 279 properties selling for over $1M. YTD 2020, there were 462 residential transactions with $383,957,323 gross volume with 122 properties selling for over $1M.
  • Top Lender Analysis May 2022: There were 396 loans in May. Of those, 103 loans were related to sales. There were 136 REFI’s, and 157 loans were timeshare related. 34% of the real estate closings were cash transactions.
  • Foreclosure 2022 Update: There were 15 Foreclosure actions recorded in May 2022, and 14 of those were intervals. There were no bank sales.
  • New Unit Sales: There were 5 new unit sales in May, compared to 13 in April.
  • Purchaser Profile Abstract: There were 87 upper-end sales in May 2022. Our buyers for real estate transactions for May 2022: Local buyers at 21%, with the Front Range demographic at 42%, and 37% are out-of-state buyers, with 0% International.
Source: Land Title

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(970) 333-0116

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323 N MAIN ST

BRECKENRIDGE CO 80424