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.
December 2017 Highlights
Market Analysis by Area for December 2017: There were a total of 230 transactions and $153,007,686 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $690,307, average residential price was $764,231 and average residential PPSF was $430.
Year to Date Market Analysis (12 months): Monetary volume in 2017 totaled $1,659,150,308 with 2607 transactions: $650,139 average transaction price, $686,314 average residential price and average residential PPSF $430.
Market Snapshot for Years 2017 vs 2016: Average Indicators for $: Single Family +16%, Multi- Family +16% and Vacant Land -8%. Median Indicators for Single Family +18%, Multi- Family +17% and Vacant Land -8%.
Market Analysis % Change 2017: Monetary volume ($153,007,686) in December 2017 was up 25% from December 2016. Transactions (230) were up 13% from December 2016. Year End 2017, monetary volume is up by 18% and transactions are up 5% compared to YTD 2016. Year-end totals for monetary volume surpass all numbers since we have been tracking, and transactions have not been this high since 2007.
Residential Market Sales by Price Point: Residential volume in December had 175 transactions with $133,740,436 gross volume. There were 31 properties that sold for $1M and above in December. The most active price points were up last month at $400K-$600K with 52 transactions. In 2017, there were 756 Single Family, 1429 Multi-Family and 187 Vacant Land transactions.
Average Price History by Type 2017: Average price for residential Single Family: $1,087,893, Multi- Family: $473,862 and Vacant Land: $323,692.
Comparative Historical Cost Analysis 2017: There were 2185 residential transactions and $1,499,595,769 gross volume with 342 properties selling for $1M and over-compared to 2016, there were 2087 transactions and $1,210,067,633 gross $ volume, 225 properties at $1M and over. In 2015, there were 2100 transactions with $1,148,024,568 gross $ volume,198 properties at $1M and over.
Top Lender Graph December and 2017: There were 411 loans in December, 71% (230) of the loans were related to sales, there were 115 REFI's and 133 loans were timeshare related. 29% of the real estate closings were cash transactions. 2017 Lender data: There were a total of 5782 loans in 2017, 1733 loans related to sales (66%), there were 1539 REFI's, 2510 timeshare related sales and 34% of all real estate transactions were cash.
Foreclosures: Actions were up in December at 10, compared to 4 in December 2016. 8 of those 10 actions were fractional ownership. We closed 2017 with 37 NED's, 21 withdrawn, actives for 2017 are at 16, with a total of 8 Public Trustee's Deeds issued. In 2016 there were 9 Public Trustee's Deeds issued.
Purchaser Profile Abstract: There were 33 upper end sales in December. Our buyers for real estate transactions for 2017: Front Range demographic at 40% of our market, 28% are "local" and 32% are out of state buyers with .4% International.
Land Title New Development Summary: This (page 16) shows all the new construction each month, there were 39 in December compared to 22 in November.
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)