Here is the Land Title Report from November 2024. The full year report will be provided in next month’s newsletter.
November real estate was up 55% with monetary volume and was up 41% with transactions from November 2023!
Market Analysis by Area for November 2024: There were a total of 169 transactions and $245,747,915 in monetary volume. The average transaction price for all 18 reported areas, plus deed restricted transactions, was $1,553,312. The average residential price was $1,586,041 and the average residential PPSF was $840.
Market Analysis by Area YTD 2024 (11 months): There were a total of 1,500 transactions and $2,059,114,499 in monetary volume. The average transaction price for all 18 areas, plus deed restricted transactions, was $1,445,362. The average residential transaction price was $1,492,238 and the average residential PPSF was $839.
Market Snapshot for YTD 2024 vs YTD 2023: Average indicators for $: Single Family +15%, Multi- Family +6% and Vacant Land +7%. Median indicators for Single Family +12%, Multi- Family +1% and Vacant Land +14%.
Market Analysis % Change 2024: Monetary volume in November 2024 was up 55% and transactions were up 41% from November 2023. YTD 2024, transactions were up 4% and $ was up 19% from YTD 2023.
Residential Cost Analysis: Residential volume in November had 139 transactions with $220,459,686 gross volume. There were 75 properties that sold for $1M and above in November. There were 52 single family, 87 multi-family and 6 vacant land transactions in November.
Average Price History by Type YTD 2024: Average price for residential single family: $2,395,612, multi-family: $1,014,538 and vacant land: $724,639.
Comparative Historical Cost Analysis Comparison YTD 2024-2023-2022: YTD 2024, there were 1,168 transactions with $1,742,934,296 gross monetary volume with 643 properties selling for over $1M. In 2023, there were 1,114 transactions with $1,495,441,225 gross $ volume with 582 properties selling for over $1M. In 2022, there were 1,306 transactions with $1,739,433,561 gross $ volume with 638 properties selling for over $1M.
Top Lender Analysis November: There were a total of 267 loans, 101 loans related to sales, 60 REFI’s and 106 timeshare loans with 40% of real estate deals closing with cash.
Purchaser Profile Abstract plus: There were 81 upper end sales and 9 new construction closings in November. Our buyers for real estate transactions YTD 2024 (rounded up): local buyers 28%, front range demographic at 37% and 35% were out-of-state buyers. International buyers -only 4 YTD.