Real estate sales volume grows this year in Colorado mountain resort counties
December 8, 2017
EAGLE COUNTY — Land Title Guarantee Co. recently released a host of statistics tracking third-quarter real estate activity for 2017 in a seven-county mountain resort region.
That group includes Eagle, Pitkin, Garfield, Summit, Routt, Grand and San Miguel counties. Telluride is in San Miguel County.
In that group for the year to date, Eagle County was second in total transactions, with 1,551. Summit County led the group with 1,852 sales.
Eagle County's residential median price of $575,000 was eclipsed by Pitkin and San Miguel counties, with posted median prices of $1.22 million and $915,000, respectively.
“While no doubt the industry will formulate some way to measure actual net cash flow and impacts, for the first several years, it’s going to be confusing for all and, to a great extent, ‘hit and miss’ until actuarial data can be established.”
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Pitkin and Summit counties led the group in the percentage of sales volume attributable to new construction, with 13.27 percent each. Eagle County was fourth in the seven-county group at 9.43 percent.
Near-Absence of Bank Sales
For the seven counties as a whole, there was a 32.3 percent increase in third quarter sales volume from the same period in 2016.
The best news amid all the statistics is the continued near-absence of bank sales. Those sales approached 20 percent of all real estate sales in Eagle County in 2010 and 2011. This year, for the seven county group, only .92 percent of all sales are foreclosures, short sales or other "distressed" transactions.
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