Summit County April Market Update

Each month, our colleagues at Land Title Guarantee Company provide us with statistics for Summit County Colorado real estate sales.  To look at the complete report, you can click here:  LTGC Apr 2023

Below is a recap from April 2023:

  • Market Analysis by Area for April 2023: There were a total of 109 transactions and $136,469,755 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,277,796, the average residential price was $1,392,234 and the average residential PSF was $841.
  • Market Analysis by Area 2022 (4 Months) YTD:  There were a total of 386 transactions with $452,761,022 monetary volume. The average transaction price was $1,231,561, the average residential price was $1,356,029 and the average residential PPSF was $783.
  • Market Snapshot for YTD 2023 vs Full Year 2022:  Average Indicators for $: Single Family 0%, Multi-Family +3%, and Vacant Land -29%. Median Indicators for Single Family 5%, Multi- Family +7%, and Vacant Land -17%.
  • Market Analysis % Change YTD April 2023:  Monetary volume in April 2023 was down 39% from April 2022. Transactions were down 30% from April 2022.  YTD 2023, monetary volume is pacing 35% down and 30% down with transactions from YTD 2022. 
  • Residential Cost Analysis:  Residential volume in April had 89 transactions with $123,908,841 gross volume. There were 44 properties that sold for $1M and above in April.  There were 34 Single Family, 55 Multi-Family , and 4 Vacant Land transactions in April.  
  • Average Price History by Type YTD 2023: Average price for residential Single Family: $2,064,620, Multi- Family: $927,843, and Vacant Land: $474,375. 
  • Comparative Historical Cost Analysis Comparison  2023-2022-2021:  YTD 2023, there were 300 transactions with $406,808,665 gross monetary volume with 142 properties selling for over $1M. YTD 2022, there were 433 transactions with $578,304,016 gross $ volume with 211 properties selling for over $1M. YTD 2021, there were 632 transactions with $657,322,217 gross $ volume with 202 properties selling for over $1M.
  • Top Lender Analysis April 2023: There were a total of 286 loans, 60 loans related to sales, 55 REFI, and 172 timeshare loans in April, with 45% of real estate deals closing with cash.
  • Foreclosure Update:  April 2023 saw an increase of 20 compared to last April 2022 with only 1, YTD 2023 there have been a total of 32 foreclosure actions (28 Fractional and 4 Fee Simple).
  • Purchaser Profile Abstract:  New unit sales were 8 in April compared to 14 in March 2023.  There were 48 upper-end sales in April compared to 44 in March 2023.  Our buyers for real estate transactions for YTD 2023: Local buyers only at 28%, Front Range demographic at 38%, and 33% were out-of-state buyers with 1% International. 

Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.



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