Summit County Colorado June Market Analysis

Brett Rudolph August 7, 2022

Here are the Summit County, Colorado, real estate market highlights for June 2022:

Summit Real Estate Market Analysis by Area for June 2022: There were a total of 161 transactions and $188,302,246 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,295,071. The average residential price was $1,371,404 and the average residential PSF was $822.
Summit Real Estate Market Analysis by Area 2022 (6 Months) YTD: There are a total of 869 transactions with $1,121,198,009 in monetary volume. The average transaction price is $1,351,154, the average residential price is $1,375,523, and the average residential PPSF is $816.
Summit Real Estate Market Snapshot for YTD Year 2022 vs Full Year 2021: Average Indicators for $: Single Family +29, Multi- Family +22% and Vacant Land +25%. Median Indicators for Single Family +39%, Multi- Family +12% and Vacant Land +26%.
Summit Real Estate Market Analysis % Change YTD June 2022: Monetary volume in June 2022 was down 37% from June 2021. Transactions were down 44% from June 2021. YTD 2022, $ volume is pacing 12% down from YTD 2021, and transactions are 35% down from YTD 2021.
Summit County Residential Cost Analysis: Residential volume in June had 125 transactions with $171,425,515 gross volume. There were 70 properties that sold for $1M and above in June. There were 45 single-family, 80 multi-family, and 5 Vacant Land transactions in June 2022.
Average Price History by Type- YTD 2022: Average price for residential Single Family: $2,214,858, Multi-Family: $917,877, and Vacant Land: $632,218.
Comparative Historical Cost Analysis Comparison YTD 2022-2021-2020: YTD 2022, there were 683 residential transactions and $939,482,232 gross $ volume with 360 properties selling for over $1M. YTD 2021, there were 1080 transactions with $1,132,888,799 gross $ volume with 356 properties selling for over $1M. YTD 2020, 561 transactions with $468,357,923 gross $ volume with 145 properties selling for over $1M.
Top Lender Analysis June 2022: There were 385 loans. Of those, 120 loans were related to sales, there were 122 REFI’s and 143 loans were timeshare related. 25% of the real estate closings were cash transactions.
Foreclosure 2022 Update: There were 5 Foreclosure actions recorded in June 2022, compared to 0 in June 2021. All 5 of those were Intervals. There are a total YTD of 25 actions, mostly all timeshare. No bank sales.
New Unit Sales: 4 in June.

Purchaser Profile Abstract: There were 72 upper-end sales in June 2022. Our buyers for real estate transactions for June 2022: Local buyers at 35%, with the Front Range demographic at 33%, and 32% are out-of-state buyers, with 0% International.

For further information on the Summit County Real Estate Market for June 2022, see the following link: Summit County Market Analysis.

Looking to purchase a property in Breckenridge, Colorado, or elsewhere in Summit County, Colorado? Let Brett Rudolph and Krystal Knott with Christie’s International Real Estate assist you in your search. Give us a call today at 970.462.1416 or email us at [email protected]. We can’t wait to help you and your family find your mountain property!

Source: Land Title