Fun Fact: The Summit County residential average and median price have been over $1M for 3 consecutive years, and YTD 1st Quarter 2024 has a record number of residential closings (54%) over $1M!!
Other important data points from the first quarter of 2024:
Average Prices for YTD 2024:
- Single Family Homes = $2,459,847 compared to $2,086,709 in 2023 an increase of 18%
- Multi-Family Homes = $1,011,406 compared to $953,206 in 2023 an increase of 6%
Median Prices for YTD 2024:
- Single Family Homes = $2,160,000 compared to $1,782,000 in 2023, an increase of 21%Multi-Family Homes = $798,050 compared to $860,000 in 2023, a decrease of 7%
- At this point in the year, I do believe that the Median price is more reflective of the market since one extremely high or extremely low value can drastically affect the average price with a lower number of transactions compared to a full year.
Number of Residential Transaction by Price Point through the 1st Quarter (Vacant Land Not Included):
- Sales Price $500,000 and under = 16
- Sales Price $500,001 - $1,000,000 = 92
- Sales Price between $1,000,001-$2,000,000 = 79
- Sales Price between $2,000,001-$3,000,000 = 29
- Over $3,000,000 = 19
Where are the Buyers coming from?
- Front Range = 36% compared to 37% in 2023
- Out of State/Domestic = 35% compared to 34% in 2023
- Locals = 28% compared to 28% in 2023
- International = 1% compared to 0% in 2023
This data is provided to us by our partners at Land Title Guarantee Company. 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.