The following data 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.
February 2018 Market Highlights
Market Analysis by Area for February 2018: There were a total of 139 transactions and $89,403,682 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $667,143, average residential price was $710,046 and average residential PPSF was $464.
Year to Date Market Analysis (2 months): Monetary volume in YTD 2018 totaled $176,969,628 with 285 transactions: $643,112 average transaction price, $719,103 average residential price and average residential PPSF $458.
Market Snapshot for Years 2018 vs 2017: Average Indicators for $: Single Family +5%, Multi- Family +13% and Vacant Land -4%. Median Indicators for Single Family +9%, Multi- Family +11% and Vacant Land -14%.
Market Analysis % Change 2018: Monetary volume ($89,403,682) in February 2018 was up 26% from February 2017. Transactions (139) were up 20% from February 2017. YTD 2018 monetary volume is up 9% from YTD 2017, and transactions are up 12% YTD 2018 compared to YTD 2017.
Residential Cost Analysis: Residential volume in February had 112 transactions with $79,525,200 gross volume. There were 18 properties that sold for $1M and above in February. The most active price points were between $200K-$400K with 29 transactions. There were 32 Single Family, 80 Multi-Family and 14 Vacant Land transactions.
Average Price History by Type 2018: Average price for residential Single Family: $1,071,375, Multi- Family: $565,515 and Vacant Land: $352,114.
Comparative Historical Cost Analysis YTD 2018: There were 216 residential transactions and $155,326,263 gross $ volume with 35 properties selling for $1M and over-compared to 2017, there were 213 transactions and $143,343,260 gross $ volume, 37 properties at $1M and over. In 2016, there were 209 transactions with $114,550,350 gross $ volume, 19 properties at $1M and over.
Top Lender Analysis February 2018: There were 370 loans in February, 56% (139) of the loans were related to sales, there were 101 REFI's and 191 loans were timeshare related. 44% of the real estate closings were cash transactions.
Market Highlights: Please see page 11 of the Market Analysis- You can note the higher priced sale in February in Lomax Estates Sub in Breckenridge. This transaction was also the highest PPSF at $597. There were no bank sales in February.
Foreclosures: Foreclosures continue to be flat with 6 in both February's (2017 & 2018), 5 of those were fractional ownerships in 2018
Purchaser Profile Abstract: There were 21 upper end sales in February. Our buyers for real estate transactions for 2018: Front Range demographic at 42% of our market, 21% are "local" and 35% are out of state buyers with 2% International. Please note a new page 17 comparing demographics of our buyers through 2013.
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)