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 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