December and Year End 2018 Market Analysis
Market Analysis by Area for December 2018: There were a total of 178 transactions and $143,100,728 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $816,769, the average residential price was $804,363 and average residential PSF was $459.
Year to Date Market Analysis ( 12 months):
Monetary volume in YTD 2018 totaled $1,748,701,487 with 2507 transactions: $722,436 average transaction price, $752,139 average residential price and average residential PSF $469.
Market Snapshot for Years 2018 vs 2017:
Average Indicators for $: Single Family +5%, Multi-Family +10% and Vacant Land +13%. Median Indicators for Single Family +7%, Multi-Family +10% and Vacant Land +16%.
Market Analysis % Change 2018:
Monetary volume ($143,100,278) in December 2018 was down 6% from December 2017. Transactions (178) were down 23% from December 2017. The full year 2018 monetary volume is up 5% from 2017, and transactions are down 4% in 2018 compared to 2017.
Residential Cost Analysis:
Residential volume in December had 147 transactions with $118,241,300 gross volume. There were 32 properties that sold for $1M and above in December The most active price points were between $500K-$600K with 19 transactions, also a burst in the price range of $1M -$1.5 with 19 transactions in December. There were 59 Single Family, 88 Multi-Family and 16 Vacant Land transactions. The 2018 year had a total of 736 Single Family, 1258 Multi-Family and 192 Vacant Land Residential transactions.
Average Price History by Type in 2018:
Average price for residential Single Family: $1,142,905, Multi-Family: $523,519 and Vacant Land: $366,814.
Comparative Historical Cost Analysis 2018:
There were 1994 residential transactions and $1,499,765,748 gross $ volume with 381 properties selling for $1M and over. In 2017, there were 2185 residential transactions and $1,499,595,769 gross $ volume with 342 properties selling for over $1M. In 2016, there were 2087 transactions with $1,210,067,633 gross $ volume with 225 properties selling for over $1M.
Top Lender Analysis December and full year 2018:
There were 389 loans in December. 68% of purchasers closing with financing at the time of the sale, there were 87 REFI’s and 181 loans were timeshare related. 32% of the real estate closings were cash transactions. In 2018, the number of real estate closings that were cash averaged 33%.
Please see page 11 of the Market Analysis- You can note the higher priced sale in December in the Lewis Ranch area in Copper at $3,500,000. The top-priced PSF was in the Tyra area in Breckenridge at $1,042.
Foreclosures: There were 4 Foreclosure actions taken in December 2018 compared to 10 in December 2017. In total for 2018, there are 72 Foreclosure actions with 28 withdrawn at year-end.
Purchaser Profile Abstract:
There were 39 upper-end sales in December 2018 compared to 43 in November 2018… Our buyers for real estate transactions for 2018: the Front Range demographic at 42% of our market, 30% are “local” and 28% are out of state buyers with 0% International. Please note page 17 comparing the demographics of our buyers through 2013.
Land Title New Development Summary:
This (page 18) shows all the new construction each month, there were 26 in December.
Source: Land Title Guarantee Company