Summit County Real Estate: March 2013

The following information is provided courtesy of Land Title Guarantee Company.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 2013 Highlights:

· Market Analysis by Area for February: February was a quieter month than January. The heart of winter is normally a ski resort area's down real estate time. There were still 92 real estate transactions with $40,697,000 gross volume. The Average Transaction Price for all 18 reported areas: $231,633, Average Residential Price: $501,072, Median Residential Price: $361,500 and Average Residential PPSF $275.

· Year to Date by Area ( 2 months): So far, there have been 200 real estate transactions to date, and $94,106,200 Gross Volume. The Average Transaction Price YTD is $242,757, Average Residential Price: $525,280, Median Residential Price: $375,000 and Average Residential PPSF: $286.

· Market Snapshot YTD for 2013: Average Single Family increased by 15% ( $878,488 in February from Full Year 2012 $764,455) and Multi-Family stayed the same as January 2013 at -12% ( $309,637 in February from Full Year $353,339). Vacant Land indicated a 3% increase ($317,600 in January 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 increasing by 3%, Multi- Family was actually down 13% and Vacant Land was up 55%.

· Market Analysis % Change showing years 2004-2012: February monetary volume ( $40,697,000) was down 6% from February 2012. Transactions are up by 16% from February 2012 ( 92). Overall, for the past 2 months of 2013, Summit County is ahead by 13% monetary ( $94,106,200) and 14% transaction wise (200).

· Residential Market Sales by Price Point :Residential volume in February had 64 transactions with $32,068,600 gross volume. There were 6 properties that sold for $1M and above in February. The most active price points in February were in between $200k-$400k.

· 2012 Average Price History: Average Residential pricing for Single family in YTD is up to $878,488, Multi- family was down to $309,637 and Vacant Land is still up at to $317,600.

· Historical Cost Breakdown 2013: There were 153 residential trans
actions so far in 2013 and $80,367,800 gross volume with 16 properties $1M and over. YTD 2012, there were 139 transactions and $75,454,400 gross volume, 13 properties at $1M and over and YTD 2011, there were 141 transactions with $73,491,600 gross volume, 12 properties at $1M and over.

· Top Lender Graph: Cash sales were at 41% for all real estate closings. There were 522 loans recorded, 240 of those were REFI's, 54 loans were related to actual real estate sales and 228 were Timeshare related loans.

· Bank Sales and Foreclosures: There were 3 Bank Sales in February. There were 27 Foreclosure actions filed in February 2013 compared to 34 last February 2012 - with 8 being Fee Simple and 4 making actual PTD. A majority of our Foreclosure actions continue to be Timeshares.

The full report can be found here: Land Title Guarantee Company 2013 FEBRUARY Market Analysis

As always, please feel free to contact me anytime with questions.

All the best,

Tyler MacGuire e-PRO®, SFR, CNE

Broker Associate

Omni Real Estate Company

Office: 970-468-2740

Mobile: 970-409-7779

Web: www.tylermacguire.com