The following information is provided as a courtesy of Land Title. Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.
Market Analysis by Area for July 2017: There were 253 transactions and $147,927,102 in monetary volume. Some trends for all 18 reported areas in July: $606,708, Average transaction price, $634,571, Average residential price and $422-PPSF.
Year to Date Market Analysis (7 months): Monetary volume in 2017 totaled $811,119,693 with 1305 transactions. $640,156- Average transaction price, $671,875-Average residential price and $427-PPSF.
Market Snapshot for Years 2017 vs 2016: Average Indicators for $: Single Family +18%, Multi- Family +12% and Vacant Land +7%. Median Indicators for $: Single Family +17%, Multi- Family +9% and Vacant Land -8%.
Market Analysis % Change YTD 2017: Monetary volume ($147,927,102) in July 2017 was 41% higher than July 2016. Transactions (253) were up 18% to July 2016. YTD 2017, monetary volume is up by 27% and transactions are up 11% compared to YTD 2016.
Residential Market Sales by Price Point: Residential volume in July had 211 transactions with $133,894,442 gross volume. There were 26 properties that sold for $1M and above in July. The most active price points were between $300K-400K with 41 transactions. There were 66 Single Family, 145 Multi-Family and 17 Vacant Land transactions in July.
Average Price History by Type 2017: Average price for residential Single Family: $1,098,773, Multi- Family: $458,129 and Vacant Land: $377,714.
Comparative Historical Cost Analysis 2017 YTD: There were 1082 residential transactions and $726,968,345 gross $ volume with 170 properties selling for a $1M and over-compared to 2016, there were 992 transactions and $558,162,218 gross $ volume, 99 properties at $1M and over. In 2015, there were 959 transactions with $519,352,800 gross $ volume, 89 properties at $1M and over.
Top Lender Graph: There were 469 loans in July, 63% (159) of the loans were related to sales, there were 127 REFI's and 183 loans were timeshare related. 37% of the real estate closings were cash transactions.
Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in July in the Shock Hill area. An Estates at Snowy Point topped out the highest PPSF at $835. There were no bank sales in July.
Foreclosures: Actions were down with 5 in July 2017 compared to 7 in July 2016.
Purchaser Profile Abstract: There were 29 upper end sales in July compared to 19 in June. Our buyers for real estate transactions in July were approximately Front Range demographic at 39% of our market, 31% are "local" and 30% are out of state buyers with 0% International.
As always, please feel free to contact me anytime with questions. I look forward to hearing from you!
All the best,
Omni Real Estate Company
"Your Guide to Summit County Real Estate"
Certified Negotiation Expert (CNE)
Resort & Second Property Specialist (RSPS)
Short Sale and Foreclosure Representative (SFR)