Summit County Real Estate Market - 2009
The most current sales and market data for the Summit County real estate market can be found through the menu at the top of this page.
This page is used to hold dated materials from 2009 which may still be of interest to some users.
Land Title Guarantee Company Data
Quartery Summit County Real Estate Reports
First Quarter 2009 Comparative Analysis: Summit County, Colorado
Monthly Summit County Colorado specific data (.PDF format)
- Summit County Residential Price Index YTD : Average sales prices for Single Family, Multi Family, and Vacant Land properties comparing 2006, 2007, 2008 & 2009 | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec |
- Summit County 2004-2005-2006-2007-2008-2009 Graph Comparison : Perhaps the most useful of the charts and graphs for showing real estate sales activity for the market as a whole. | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec |
- Cost Breakdown by month: for Residential Improved Units (New Construction, Resales, Gross Residential Price Index and YTD Gross Residential Price Index), also shows Full Year 2008, 2007 and 2006 Gross Residential Price Index with # of transactions, total volume and average price.
| Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | - Cost Breakdown YTD : for Residential Improved Units and the Cost Breakdown YTD from 2007 and 2008 for comparison.
| Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | - Market Analysis by Month : Month to Month Comparison by Monetary Volume % Change from 2004, 2005, 2006, 2007, 2008 & 2009.
| Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | - Market Analysis by Area : for Residential Improved Units. On the Market Analysis by Area report we have added a color coded system;
- Green Text indicates an increase from the previous month's value.
- Red Text indicates a decrease from the previous month's value.
- Black Text indicates the value is the same or not applicable from the previous month's value.
- Colored text is not used for % Calculations - all of those columns will remain black.
| Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec |
- Market Analysis by Area YTD | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec |
- Top Lenders Graph : (Loan Breakdown- Refi's, Timeshares and Cash Deals ) | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec |
- Top Lenders Summary : | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec |
- 10 Year Resales Worksheet : Residential Properties on a Ten Year Historical Index to Gross Volume in Summit County. The following worksheet ( 10 Year Resale Data) shows the yearly ratio of Residential Resales to Gross Transactions, along with a 10 year average ratio. This information is helpful in sorting out the strong resale market still present in Summit County. None of the new construction developments and sales are represented in this analysis, only true Residential Resales are utilized. In addition, the yearly average price and yearly count of Resale transactions is also shown for your consideration. Please note that Gross Transactions in Summit County include all types of sales, Resales, New Product Sales, Commercial Sales, Vacant Land Sales, Parking Space Sales, etc...so any other subset of data is not automatically defined by subtraction of the Resale number from the Gross Number. | Jul |
- Market Snapshot-This worksheet breaks down all of the residential activity by property type and areas in Summit County. We utilize ONLY Arms- Length transactions for this report. The Arms Length residential activity is broken out into Single Family, Multi- Family and Vacant Land transactions. A comparison from a full year of 2008 (all sales transactions that qualify for the full year) along with % growth or loss by area is also shown in this report. The current year shows sales through August 2009 from the Summit County Clerk and Recorder's & Assessor's Office- no MLS data is utilized in this worksheet. | Aug | Sept | Oct | Nov | Dec |
Land Title Remarks regarding the above include:
October
- Each Month is showing signs of local Market improvement- October 2009 was the best month this year in terms of Gross volume and Number of sales. Overall, per area, $ volume, number of transactions, average transaction price, median transaction price, average residential price, median residential price and average residential PPSF were all UP in October compared to last month.
- The highest number of transactions (160) so far this year with a total of $92,709,100 monetary volume, only down 22% from October 2008 and 9%( the best yet) with number of transactions. YTD, 2009 is down about 46% monetary volume and 43% transaction volume from last October YTD 2008.
- Keystone had a high number of sales in October- the largest sale also transpired in Keystone in October, $3,050,000 in Settler's Creek Subdivision, Lot 4- 5 bedroom, 5 bath, 2007 New Construction/Developer sale, 5,011 SF Living Area on .185 AC Land, $608.66 PPSF.
- Blue River also had noticeably increased sales and values from last month.
- There was one rare Development Parcel Sale in Silverthorne in October at Angler Mountain Ranch- $1,050,000 Cabins at Angler Mountain Ranch Filing #1, 2 Parcels totaling 16,0408 AC to be developed as : Angler Mountain Ranch Cabins Phase 1. This site sold for $$65,458.08 per AC.
- YTD 2009 Residential Gross Price Index Single Family is still very high at $933,739, compared to years 2008 at $835,803, 2007 at $798,889 and 2006 at $737,253. The Mulit-Family and Vacant Land Gross Residential Price Index shows a decline in average price from the past 3 years.
- The Average Price of all Residential Improved Units reflects the average price holding steady: YTD 2009: $544,069, YTD 2008 $582,729 and YTD 2007 $515,067.
September
- September 2009 was the best month this year in terms of Gross volume and Number of sales. Averages, Medians & PPSF are all still mostly in a declining trend.
- The highest number of transactions (147) so far this year with a total of $81,015,200 monetary volume, down from September 2008 36% down monetary volume and 27 %( the best yet) with number of transactions. YTD, 2009 is down about 49-47% both monetary and transaction volume from last September YTD 2008.
- The highest priced sale was on the Mountain in Breck, in Westridge Subd: Lot 7 sold for $3,375,000 on September 18th: It is a 6 Bedroom, 7 Bath home built in 1999 on .57 AC. It is 5,681 SF in size and sold for $594.09 PSF, cash at the time of closing.
- The Median Transaction price for all recorded transactions (in all 19 areas per the Clerk and Recorder's) was $395,000 with the average PPSF at $314; The Average Transaction Price over the past 9 months (not Median- and in all 19 areas per the Clerk and Recorder's) was $547,829; The September Gross Residential Price Index reflects the average price at $977,704 for a Single Family, $353,379 for Mulit-Family and $434,400 for Vacant Land.
- YTD 2009 Residential Gross Price Index Single Family is still very high at $925,927, compared to years 2008 at $835,803, 2007 at $798,889 and 2006 at $737,253. The Mulit-Family and Vacant Land Gross Residential Price Index shows a decline in average price from the past 3 years.
- There were 84 Residential Improved Units that sold for $1M and up YTD -9 months-as of September 2009, there were 133 YTD in 2008 and 149 YTD in 2007.
- The most active price areas in the Residential Improved Unit summary reflects $200K-400K, with 48 of the 127 units.
- Active areas: Breckenridge had 36 transactions, Frisco 24 transactions, Keystone 14 transactions, Silverthorne 10 transactions and Wildernest 17 transactions in September.
- 90 loans were related to the actual sales in September at 61% of the 147 sales transactions, 39% of the real estate closings were cash transactions.
August
- The highest priced home sale in August was in Copper Mountain at Lewis Ranch- Lot 16 sold for $2.65M-5342 SF living area, 5 bedroom, 6 baths. PSF $496.07. New construction.
- Residential sales over $1M are still holding strong- with 11 closings in August at $1M and up- one for exactly $1M is located in the $900,000 -$1M category in the Cost Breakdown worksheet. - The Carwash on Airport Road in Breck sold for $1.3M- Commercial Transaction. So far, YTD 47 Residential properties have sold for $1M and over, YTD 2008 there were 103 and YTD 2007 there were 124.
- The highest number of transactions (114) so far this year with a total of $60,975 monetary volume, down from August 2008 34% down monetary volume and 38% with number of transactions. YTD, 2009 is down about 50% both monetary and transaction volume from last August YTD 2008.
- Single Family YTD in Summit County still continues to exceed the past 3 years at $912,102; Multi Family and Vacant Land have dropped.
July
- The highest number of transactions (95) so far this year with a total of $47,401,000 monetary volume, down from July 2008 41% down monetary volume and 30% with number of transactions.
- Keystone showed very strong sales, with many upward (green) numbers. Countywide: Gross Averages and Medians are all in the green, with the Gross PPSF showing a decline from June's Average.
- There was a hotel that sold on 7/30/2009 $3,000,000 Sunwood Subdivision Lots 1,1A & 2 - Days Inn Hotel, 73 Rooms built in 1985 on 3 parcels totaling: 2.81 AC Total sf: 34,922 located in the Silverthorne Market Area. This is recorded as a commercial transaction.
- There were 8 home sales recorded at or over $1,000,000 in value, with the average PPSF of $367.63 - in several areas of the county: Keystone, Breckenridge, Breckenridge Golf Course, Peak 7 and the Woodmoor Area (the price point summary breaks at 1,000,000 so one of the three in that category is exactly $1,000,000. The rest are under).
- Single Family YTD in Summit County exceeds the past 3 years at $926,547.
- Cash sales declined at a new low with 27% in July.
- The most active price points in July were in the $200,000-$300,000 range in the Residential Improved Unit category.
June
- 80 transactions in June with a total of $34,049,300 monetary volume, down from June 2008 63% down monetary volume and 48% with number of transactions.
- 1st half of the year: Breckenridge holds 29% $ transactions and 21% # of transactions, Keystone holds 10% $ transactions and 12% # transactions and Silverthorne holds 11% $ transactions and 10% # transactions.
- Single Family YTD in Summit County exceeds the past 3 years at $897,362.
- Cash sales still hold strong at 44% in June.
- The most active price points in June were in the $200,000-$400,000 range.
May
- May had the highest average transaction price so far in 2009.
- The gross Residential Volume in May is higher that the total volume for any month this year
- There were 17 sales over $1M-16 of them were Residential. The other one was a $5M sale considered a development parcel known as Eagles Nest Mountain Ranch.
- There was a decline in DOT recorded contributed to the decrease in Timeshare loans; REFI's and new sale loans were strong in May.
April
- YTD, Summit County monetary volume continues to be down 60%, and numbers of transactions were down 58% compared to 2008. YTD, both monetary volume and number of transactions continue to be down 60% compared to YTD 2008.
- Single Family Average price in April is still holding up compared to 06, 07 and 08.
- The Residential Improved Unit Average Price in April YTD is still above 08 and 07.
- Cash transactions were 47% of all Real Estate closings for the month of April.
Resort Real Estate Index by County (.XLS format)
Land Title Resort Real Estate Index by County from Eagle, Garfield, Pitkin, Routt and Summit Counties. On this MS Excel file, you will find the following eight worksheets within each spreadsheet:
- Gross Transaction Chart: showing the gross transactions for each county since 2004.
- Monthly Gross Volume Transaction Comparison : Shows the Monthly Gross Volume Comparison Transactions for each county through April 2009. It also shows the Gross Transaction Report Summary Full Years 2008 (and YTD same time for 2008), 2007, 2006, 2005 and 2004.
- Gross Volume for New Construction : The % Gross number compares the YTD Gross Volume of New Construction to the Full Year YTD Gross Overall Volume for 2008 and 2007. It does not compare the number of sales - rather the total sales volume in these categories.
- Gross Number of Transactions : YTD 2009, Full YTD 2008 and Full Year 2007.
- Single Family Housing Index : Average Single Family Home YTD 2009, Full Year 2008 and Full Year of 2007.
- Multi-Family Housing Index : Average Multi Family Home YTD 2009, Fully Year 2008 and Full Year 2007.
- Residential Price Per Square Foot by Type : Single Family and Multi Family for 2009.
- Of Interest Tab : Median Single Family Home Price Index 2008 YTD vs. 2007, Median Single Family Home Price Summary 2008 vs. 2007 Three Year History, YTD 2009 through 2006 Recorded Sales Transactions that show the seller as a bank or other Lending Institution, New Construction Sales Summary YTD 2009 through 2006 and Residential Unit Distribution by Price Point 2007 Assessment of Actual Value.
New format begining with data for the third quarter of 2009: 2009 Third Quarter Land Title Resort Real Estate Index by County from Eagle, Garfield, Pitkin, Routt and Summit Counties. You will find FOUR worksheets within this spreadsheet:
- Gross Transaction Chart : Gross recorded real estate sales volume for all transactions in the 5 counties YTD 2009 ( up to September), YTD 2008, 2007, 2006, 2005 and 2004 full years.
- Comparison Charts-5 charts : Number of Recorded Sales Transactions by County YTD 2009 through 2007, Percentage of New Construction Sales from Gross Volume Sales by County TYD 2009 through 2007, Year to Date 2009 Average Price Per Square Foot Sales Summary: Single Family and Multi-Family Property Types, Average Sales Price for Single Family Residences by County: YTD 2009 through 2007, Average Sales Price for Multi-Family Residences by County YTD 2009 through 2007
- Monthly Data : Monthly Gross Volume Transaction Report for all recorded transactions and Gross Transaction Report Summary & Year to Date Comparison
- Monthly Data for the Comparison Charts
Title Company of the Rockies Data
Title Company of the Rockies is another of the larger closing companies in Summit County with offices in Breckenridge and Frisco. Their market data comes out less often and will be posted here as well.