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
October 2013 Highlights:
Market Analysis by Area for October: Gross volume
was the best so far in 2013 with $110.9 M in sales and transactions
were the second best with 241, a tiny bit lower than September. The
average transaction price for all 18 reported areas is up from September
at $461,091, average residential price was about the same as
September at $473,531 and the median residential price was down
a little from September at $362,500. The average residential
PPSF was $303.
Year to Date by Area ( 10 months): There
have been 1606 real estate transactions to date, and $739,072,800 gross
volume. The average transaction price YTD: $465,820 average residential price
YTD: $493,302 median residential price YTD: $379,000 median residential
price and YTD: average residential PPSF $301. 40% of all the real
estate transactions are in between the Farmer's Corner to Blue River
Market Snapshot YTD ( 10 months ) for
2013: Prices continue to hold with average single
family at a 1% decrease ($757,052 YTD October from
full year 2012 $764,455) and multi-family was down a
little in October YTD 2013 at -3% ( $343,802
in October YTD from full year $353,339). Vacant land continues
to increase with a 7% increase ($329,891 YTD October from
$309,512 full year 2012). If you view the median prices on the chart
below on page 4 of the Analysis- you will see that the trends vary with single
family at 0% increase, multi- family was actually down 5% and vacant
land down -15%.
Market Analysis % Change showing years 2004-2012: October
monetary volume ($110,993,800) was up 6% from October 2012.
Transactions are also up by 5% from October 2012. Overall,
for the past 10 months of 2013, Summit County
Residential Market Sales by Price Point: Residential
volume in October had 209 transactions with $98,968,000 gross volume.
There were 15 properties that sold for $1M and above in
October. The most active price points in October were once
again between $200K -$300K. October had 67 single
family, 142 multi-family and 13 vacant land transactions.
2013 Average Price History: Average residential pricing
is holding strong for all three sectors- single family is $757,052 YTD, multi-
family is $343,802 YTD and vacant land is $329,891 YTD.
Historical Cost Breakdown 2013 ( 10 months): There
were 1313 residential transactions so far in 2013 and $647,705,300
gross volume with 104 properties $1M and over. YTD 2012, there
were 1029 transactions and $534,528,200 gross volume, 88
properties at $1M and over and YTD 2011, there were 947
transactions with $490,768,400 gross volume, 84 properties
at $1M and over.
Top Lender Graph: There were 490 loans in October.
67% ( 162) loans were related to sales and 33% of the sales were cash at
closing. There were 174 REFI's and 154 loans related to Timeshares.
Market Highlights: Please see page 10 of the Market
Analysis- this also shows the bank sales (2) from October 2013.
Bank Sales and Foreclosures: Foreclosure actions are
way down again in October, with a total of 12 actions recorded
in October 2013 as compared to 26 in October 2012. Foreclosure
actions for 2013 are looking to be down around 50% from last year.
Land Title Purchaser Highlights: There
were quite a number of higher end sales in October- you can see the details on
this report. A majority of our second homeowners for real estate transactions
continue to be the Front Range demographic
at 39% of our market, only 26% are local and 34% are out of
state buyers YTD.
As always, please feel free to call or email me anytime with questions. I look forward to hearing from you!
All the best,
Tyler MacGuire e-PRO®, SFR, CNE
Broker Associate
Omni Real Estate Company
Office: 970-468-2740
“Your Guide to Summit County Real Estate”
