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Land Title’s Colorado Mountain Resorts Market Analysis Q1 2013

By Lawrence “Skip” Moss

Six Colorado counties real estate activity comparison and buyer demographics. Local buyers comprise nearly 43% of the sales, then 23% to the Front Range and the balance split between out of state and international buyers.

 

Colorado Mountain Resorts Market Analysis

First Quarter Starts Strong for Colorado Resort Markets

Land Title is a local company within Colorado and has been in business since 1967. To help partner with our customers and local communities, we’d like to share some valuable information on the real estate market in six of our Colorado mountain communities of Aspen (Pitkin County), Breckenridge (Summit County), Steamboat Springs (Routt County), Glenwood Springs (Garfield County), Winter Park (Grand County), and Vail (Eagle County).

First Quarter Highlights from the Six Counties:

  • Monthly gross volume down 5.22% for the six counties combined compared to LY Q1 numbers.
  • Buyer Profile: 42.74% local, 23.35% Front Range, 32.25% Out-Of-State, 1.66% international
  • Highs and Lows: Single family average price up 22.52% in Routt County while down 34.56% in Pitkin
  • Highs and Lows: Quarterly Gross Volume up 44.6% in Grand County while down 22.4% in Pitkin
  • New construction sales equally 10% or more in gross volume for Eagle, Grand and Routt Counties
  • Bank sales equally 15% or more in gross volume for Eagle, Garfield, Pitkin and Routt Counties

Click here for a full summary report in excel format for the Q1 2013 for all six counties.
Click here for a pdf version of the report.

 Eagle County
– Transactions are up 18%
while dollar volume is
down 14% for the first qtr
– Sold single family homes
down 6% for the first qtr
– Multifamily homes are up
23% for the first quarter
Routt County
  Routt County
– Gross Dollar volume up
17.23% in the first quarter
– Transactions are up
13.68%
– Buyer Profile: 39% local,
11% Front Range, 50%
Out-of-state (domestic),1%
International
 Garfield County
– 248 transactions in the first
quarter of 2013, up .8%
– Average median single
home sold price: $274,838,
down 17%
– Median single home sold
price:$250,000, up 11%
– Buyer Profile: 81% local,
14% out of state (domestic)
Summit County
  Summit County
– 318 transactions, up
24%
– Gross sales volume up
17%
– Median residential sold
price:$382,500
– Avg. residential PPSF:    $255
– Highest dollar volume and
transactions in March since
2008
 Pitkin County
– 168 transactions in the first
qtr, up 13%
– Avg. single family home
sold price:$2,746,347,
down 35%
– Median single family home
sold price: $2, 200,000,
down 21%
– Buyer Profile: 55% out-of-
state, 34% local, 10%
intl.,1% Front Range
Grand County
  Grand County
– 263 transactions, up 19%
– Gross Dollar volume up
44.6%
– Buyer Profile: 26% local,
53% front range, 21%
out-of-state (domestic)
– Median residential price:
$223,000
– Average residential price:
$290,395
 

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