Summit County Real Estate Market - 2010
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 2010 which may still be of interest to some users.
Jun '10 Land Title Monthly Summit County Colorado specific data (.PDF format)
May '10 Land Title Monthly Summit County Colorado specific data (.PDF format)
Apr '10 Land Title Monthly Summit County Colorado specific data (.PDF format)
Mar '10 Land Title Monthly Summit County Colorado specific data (.PDF format)
Feb '10 Land Title Monthly Summit County Colorado specific data (.PDF format)
Following describes the information contained in these files:
- Market Snapshot by Area & Property Type Comparison - comparing Full Year 2009 vs. YTD (Two months) 2010. The top graph shows the Average Price Comparison which shows the average price for Single family, Multi- Family and Residential Land showing percent change. The Median Price Comparison compares Median Single Family, Multi-Family and Residential Land with percentage change. Sales believed to be inaccurate indicators of the market have been eliminated in this bottom report. The bottom graph shows Full Interest, Fee Simple, Arms- Length transactions.
- Summit County 2004-2005-2006-2007-2008-2009-2010 Graph Comparison. This graph shows 6 full years for comparison, plus February 2010 numbers.
- Cost Breakdown for Residential Improved Units-Price Point Summary (New Construction, Resales and February Gross Residential Price Index and Full YTD Gross Residential Price Index for 2010 ( two months), also shows Full Years, 2009 2008, 2007 and 2006 Gross Residential Price Index with # of transactions, total volume and average price for Single Family, Multi- Family and Vacant Land.
- Cost Breakdown for Residential Improved Units YTD for given month 2010 and the Cost Breakdown YTD from 2009, 2008 and 2007 for comparison.
- Average Price Breakdown : Average Price History YTD 2010, Full Years, 09, 08, 07, and 06 based on information from the Cost Breakdown Data.
- Top Lenders’ Graph for given month
- Top Lender’s Summary for given month
- Foreclosure Process Document Breakdown for Summit County : Shows how many Timeshares, Fee Simple and Unknown with No legal shown are going into the Foreclosure process and where they are within the process.
- Year to Date Summary of Foreclosure Actions : Shows the property foreclosure summary with property types and locations YTD with snapshot graphs.
- Market Analysis % Change from 2004, 2005, 2006, 2007, 2008, 2009 and YTD 2010.
- Market Analysis by Area for the given month: On the Market Analysis by Area report please note the color coded system;
- Black Text indicates the value is the same or not applicable from the previous month’s value.
- Red Text indicates a decrease from the previous month’s value.
- Green Text indicates an increase from the previous month’s value.
- Colored text is not used for % Calculations – all of those columns will remain black
- Price per Square Foot (PPSF) was also added to the last column.
- *Please note on this report- we added a line item about the recent month’s Bank Sales Activity for the month a the top of this report.
- Bank Sales YTD details : The Market Analysis by Area now reflects the number and total of Bank Sales with the Gross Volume and % volume of the overall gross volume in sales at the top of the worksheet.
- Market Analysis by Area YTD.
Land Title Observations on the above:
Notable Sales in June:
- The highest priced sale this month is for a ski-in/out condominium unit: 6/25/2010 $2,590,000 One Ski Hill Place Condo Unit 8507 – 1521 Ski Hill Road – 4 Brm 4 Bath – 1,912 SF – YOC 2009 – PPSF of $1,354.60. This is a new construction sale.
- There was also a single family residence: 6/1/2010 $1,975,000 Trappers Glen Subd Lot 2 – 1015 Four O’Clock Road – 6 Brm 6 Bath – 3,784 SF – YOC 1998 – Landsize = .8310 AC. PPSF of $521.93.
One Ski Hill Place Condo continues to impact the market this month with the following in sales for June 2010:
- Gross Volume: $27,445,000
- Average Price per Unit: $1,372,250
- Number of Transactions: 20
- Average Price PSF: $1,301.11
June Remarks:
- Market Snapshot: Overall, for the 19 different areas that the Clerk and Recorder post transactions- the gross Median Single Family price in June for 6 months compared to the full year of 2009 was down 10% ($624,650-YTD 2010 compared to $695,750-2009), Median Price of Multi-Family was up 6% ( $350,000-YTD 2010 compared to $330,000-2009), and Vacant Land was down 22% ( $265,000-YTD 2010-$340,000-2009).
- Summit County Gross Real Estate Volume Graph: June 2010 saw a huge spike compared to June 2009- the 20 One Ski Hill Place Transactions played a role in the increase and monetary volume. Monetary volume was 146% up compared to June 2009 with One Ski Hill Place included. Monetary volume was up just 65% if we take One Ski Hill Place out of the equation, with is still a big improvement over last June 2009. Transactions were up in June with One Ski Hill Place compared to June 2009 by 73%, without One Ski Hill Place, the transactions were up 47%- so overall June showed signs of improvement in Summit County.
- Residential Market Sales by Price Point: The most active price areas in June were under $200K! One Ski Hill Place transactions impacted the higher price ranges. The Single Family Average price YTD continues to be comparable to the full year of 2006.
- Historical Cost Breakdown: Year to Date 2010 shows 119 more Residential Improved Unit transactions vs. YTD June 2009. Gross Volume has also increased by $60,468,800 YTD 2010 vs. YTD 2009.
- Market Analysis % Change: YTD Monetary Volume for ALL transactions recorded is up 25% compared to YTD June 2009. YTD transaction volume for ALL transactions recorded is up 27% compared to YTD June 2009.The numbers still don’t compare to anything that we saw since 2004, 2005, 2006, 2007, 2008 or 2009 YTD.
- Market Analysis by Area YTD 2010: The only two areas in Summit that showed an increase with the Median Residential Price were Breckenridge and Summit Cove in June. The three most active areas in June both with $ and # of transactions: Breckenridge- with 20 transactions included in the 50, Breckenridge Golf Course area and Silverthorne/Wildernest-which might explain the high number of Residential transactions under $200K.
- Market Analysis by Area YTD 2010 for June: The average price per square foot in the 19 areas reported by the Clerk and Recorder’s office is $343, with Median Transaction Price at $553,536. The Median Residential Price is $448,000.
- Top Lender Graph: Cash sales hover around the 40% mark. There were 309 loans recorded in June: 83 of those were related to sales- 60% of the 138 recorded sales in Summit. There were 186 Refi’s/Equity loans, 40 loans were related to timeshares
May
Notable Sales in May:
- One Ski Hill Condominiums started closing with 13 Sales closing by May 31st, 2010
- Gross Volume: $19,389,000
- Average Price per Unit: $1,491,462
- The highest Priced Sale in May was: 5/28/2010 $2,690,000 One Ski Hill Place Condo Unit 8509. There is no description yet available at the Assessor’s Office.
- 4 of the Sales over $2M are for One Ski Hill Place Condos.
May Remarks:
- Market Snapshot : Several areas show the Median Single Family price has increased YTD May compared to the full year 2009: Blue River 11%, Breckenridge 6%, Dillon Valley 13%, Summit Cove 14% and Wildernest 14%
- Market Snapshot : Several areas show the Median Multi Family price has increased YTD May compared to the full year 2009: Breckenridge 6% (OSHP), Copper 6%, Dillon Valley 19% and Summit Cove 2%
- Summit County Gross Real Estate Volume Graph : May 2010 paced VERY similar to May 2009.
- Residential Market Sales by Price Point : The most active price areas in May were $200K to $300K; however, One Ski Hill Place transactions impacted the higher price ranges. The Single Family Average price YTD is comparable to the full year of 2006.
- Historical Cost Breakdown : 325 transactions with $184,867,400 monetary volume vs. May 2009 with 263 transactions with $171,512,200 monetary volume for RESIDENTIAL transactions. YTD May 2010 was more positive than last YTD May 2009. The price ranges 200K-300K in YTD May 2010 show 69 transactions, $17,600,800 monetary volume, YTD May 2009: 39 transactions, $10,091,200 monetary volume and YTD May 2008: 95 transactions with $24,378,800 monetary volume.
- Market Analysis % Change : May 2010 has a -1% difference from May 2009 in monetary volume, however, there is a 7% increase in May 2010 vs. May 2009 in transaction numbers- once again showing how flat May 2010 was to May 2009. Positive news: YTD May 2010 shows a 4% increase in monetary volume compared to YTD May 2009, and a 20% increase in the amount of transactions from YTD May 2010 to YTD May 2009.
- Market Analysis by Area May 2010 : There are three areas in Summit County that show an increase over April 2010 with Median Residential Price: Breckenridge ( due to One Ski Hill Place), Keystone and Wildernest areas. The most active areas with number of transactions and monetary volume were Breckenridge (32: $31,463,800- OSHP plays a big role), Keystone (11: $6,165,000) and Silverthorne (13: $8,207,300).
- Market Analysis by Area YTD 2010 : The Average Residential Price per SF for the last 5 months in 19 reported areas from the Assessor’s Office is $300 PPSF. The Median Residential price is $441,500.
- Top Lender Graph : Cash sales are higher than last year due to the financing challenges at 46% in May. There were 51 loans related to actual sales or 54% of the sales transactions.
- Bank Sales : There was one recorded Bank Sale in May in Summit County.
- May 2010 Foreclosure Process Breakdown: There were 39 Notice of Election properties, 0 Certificate of Purchase and 5 properties that have gone to the Public Trustees Deed in May.
- YTD Summary of Foreclosure Actions: YTD there are 134 Fee Simple Foreclosure actions, 67 Foreclosure Timeshare actions and Foreclosure 24 Unknown actions: Breakdown: SF: 69, MTF: 49. Vacant Land: 9, Development: 2, Commercial: 5, Unknown: 24 and 67 Timeshares.
April
Notable Sales in April:
- Highest sale: 4/27/2010: $1,740,000 Sunbeam Estates Subd #3 Lot 40 – 121 Klack Road – 5 Bedroom 6 Bath – YOC 2006 – 4,620 SF on .539 AC. PPSF is $376.62.
- There was a rather low sale in the Keystone area: 4/2/2010 $255,000 Loveland Pass Village Subd Lot 35 – 0277 Rasor Drive – 2 Brm 1 Bath – YOC 1970 – 896 SF on .1194 AC. PPSF is $284.60.
April Remarks:
- Summit County Real Estate continues at a steady pace. Each month shows signs of improvement with number of transactions and monetary volume. Monetary volume reflects an 8% increase over April 2009, a 6% increase YTD in April 2010 from YTD April 2009. Number of transactions are 34% higher than last April 2009, with a 20% increase in transactions YTD April 2010 vs. 2009.
- The median Single Family price YTD is 13% lower than the full year of 2009. 2009=$695,750 vs. YTD $607,500. The median Mulit-Family shows a 6% decrease in price at $309,000 vs. full year 2009 at $330,000.
- The most active price points in Summit County in April were in the$200K-$400K price range with 25% of the Residential Improved Unit percentage gross in April. $400,000 to $500,000 reflects 16% of the percentage gross volume.
- The YTD Single Family price April 2010 ($734,020) is close to the year 2006 full year at $737,253.
- YTD April Residential Volume is pacing stronger that YTD April 2009 with 239 transactions in 2010 vs. 194 transactions in 2009. You will notice the monetary volume is pretty low for the number of transactions indicating that the price points are lower. (YTD April 2010: $123,069,400 vs. YTD April 2009: $117,609,100)
- YTD Residential Volume had 163 transactions in 2010 vs. YTD 2009 92 transactions, with both years showing similar $ Gross Volume with 2010: $85,312,400 and 2009: $83,877,000- another indicator that prices are coming down in Summit County.
- Keystone was active in April with 14 transactions, Breckenridge 23 transactions and Frisco 11 transactions. YTD: Breckenridge shows 39 transactions, Frisco: 37, Keystone: 39 Silverthorne: 20 and Wildernest: 27.
- YTD Median Residential Price for all transactions is $415,000 at $314 per square foot as the average.
- There was one recorded Bank Sales in April in Summit County.
- There were a substantial number of cash transactions in April-48% of the real estate closings. There were also quite of few refinances: 182 of the 409 loans.
- There are 31 Notice of Election properties, 3 Certificate of Purchase and 9 properties that have gone to the Public Trustees Deed in March.
- YTD there are 130 Notice of Election properties, 12 Certificate of Purchase and 39 Public Trustee Deeds in Summit County.
March
Notable Sales in March:
- The highest Sale in March is for a Single Family home in Summit Estates: 3/12/2010 $2,445,000 Summit Estates Subd #4 PH V Lot 59 – 2832 Estates Drive – 5 Brm 7 Bath – YOC 1999 – 5,935 SF on 2.27 AC. That is $411.96 PSF
- Another high Lot Sale came through:3/20/2010 $1,175,000 Western Sky Ranch Subd #4 Lot 7 – 265 Southern Cross Trail on 3.2527 AC which is $351,238.36 per AC.
Land Title Remarks on the above:
- The prices in Summit County reflect a significant decrease: The Median Single Family average price YTD vs. 2009 Full Year is 11% down, the Median Multi-Family average price is 10% down and the Median Residential Land Price is 41% down.
- March 2010 is flat with monetary volume to March 2009.
- The most active price points in Summit County in March continue to be in the the$300K-$500K price range with 31% of the Residential Improved Unit percentage gross in March.
- March was slow for $1M and over Residential Improved Unit transaction movement.
- YTD Residential Volume had 163 transactions in 2010 vs. YTD 2009 92 transactions, with both years showing similar $ Gross Volume with 2010: $85,312,400 and 2009: $83,877,000- another indicator that prices are coming down in Summit County.
- March 2010 is flat in monetary volume from 2009. YTD, up 6% for 3 months in 2010 vs. 2009. March 2010 transaction volume is up 21% from last March 2009. YTD, up 14% for 3 months in 2010 vs. 2009. This trend is another indicator that prices are going down, and lower priced inventory is moving quicker than higher end inventory in Summit County.
- The Average Price History for Real Estate Transactions based on the Residential Improved Unit Price Point Summary show that the Average Single Family price is similar to Full Year of 2006 ( 2010-$739,807 and 2006-$737,253), same with Multi- Family ( 2010-$368,479 and 2006-$333,501).
- YTD Median Residential Price for all transactions is $419,000.
Feburary
- The Median Single Family average price YTD in 2010 is up 9% compared to the full year of 2009. Multi-Family average price YTD is down 12% compared to the full year of 2009. Vacant Land Average Price YTD is only down 1% YTD compared to full year of 2009.
- Keystone and Breckenridge were the two most active locations in Summit County with transactions in February. Keystone had 11 transactions and Breckenridge had 13 transactions.
- There were 6 Residential properties that were recorded for $1M and over in February and combined they accounted for 29% of the gross sales volume.
- There are 98 YTD Residential Transactions in 2010, vs. the 92 last year at this time.
- The most active price point remains in the $200K-$300K price ranges for Single Family and Multi-Family Residential Improved Units.
- The YTD Market Analysis with all recorded transactions in February shows the Residential Median average to be $367,500 with $321 per square foot as the average.
- Cash transactions were down to 35% this month compared to the past months with around 40%, we are seeing more Owner Carry transactions.
- There are still only two recorded Bank Sales YTD in Summit County.
- There are 52 Notice of Election properties, 1 Certificate of Purchase and 23 properties that have gone to the Public Trustees Deed YTD.
- February 2010 is up 32% in monetary volume from 2009. YTD, up 10% for 2 months in 2010 vs. 2009. February 2010 transaction volume is up 20% from last February 2009. YTD, up 10% for 2 months in 2010 vs. 2009.