December 2008 Real Estate Highlights

• Dec. 2008 shows a 55% decreasein monetary volume compared to Dec. 2007, Dec. 2008 also shows a 55% decrease in number of transactions compared to Dec. 2007.
• The Cache at Union Creek in Copper Mountain started to close in Dec. - 5 new townhomes, totaling $2,674,500 or approximately $534,900 per unit.
• New unit sales in Breckenridge have settled down.
• The average transaction price in Dec. continues to hold steady.
• There were 227 Refi/Equity loans in Dec.
• The median residential transaction price for real estate in Dec. 2008 was $385,000.
• The highest number of transactions falls in the $300,000 to $400,000 price ranges in Dec.
• 9 properties sold for $1 million and over in Dec.

Year End 2008 Highlights

• 2008 Monetary Volume indicates a 35% decrease from 2007, number of transactions in 2008 are down 43% from 2007.
• % of $ Volume: #1 Breckenridge, #2 Silverthorne, #3 Keystone
• # of transactions: #1 Breckenridge, #2 Keystone, #3 Silverthorne
• The average transaction price in all 20 areas in 2008 was $585,841, in 2007 it was $509,693 & in 2006 it was $48,367
• The Summit County Residential Price Index from 2006 to 2008 shows the steady average prices in 2008- $835,803 for Single Family; $463,633 for Multi-Family; & $470,260 for Vacant Land.
• 177 Residential Improved Units sodl for $1 million and over in 2008 & 216 Residential Improved Units sold for $1 million and over in 2007.
• Residential Improved Units in 2008 number of transactions are down over 50% from 2007, and total dollar volume is down over 60% from 2007.
• Cash transactions in 2008 average was 35% of the sales in Summit County.