June 2013 Highlights:
·
Market Analysis by Area for June: June was another great month
with 140 real estate transactions with $61,178,100 gross volume. The
Average Transaction Price for all 18 reported areas was $442,995, Average
Residential Price: $489,064 and the Median Residential Price: $350,000-
all down a bit from May 2013. The Average Residential PPSF was about
the same as May at $300.
·
Year to Date by Area ( 6 months): There have been 750 real estate
transactions to date, and $347,333,700 Gross Volume. The Average Transaction
Price YTD: $469,519, Average Residential Price YTD: $505,992, Median
Residential Price YTD: $380,000 and Average Residential PPSF YTD: $291. 41%
of all the real estate transactions are in between the Farmer's Corner to Blue River
sections, 12% Keystone, 11% Frisco and 10% Silverthorne this month.
·
Market Snapshot YTD ( 6 months ) for
2013: Values continue to hold with Average Single Family at a 1% increase ($770,123
YTD June from Full Year 2012 $764,455) and Multi-Family decreased a
bit as June YTD 2013 at -4% ( $337,582 in June
YTD from Full Year $353,339). Vacant
Land also holds
steady with a 1% decrease ($306,297 YTD June 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 no
change 0%, Multi- Family was actually down 5% and Vacant Land down
-12%.
·
Market Analysis % Change showing years 2004-2012: June monetary volume
($61,178,100) was up 17% from June 2012. Transactions are
also up by 28% from June 2012 (140). Overall, for the
past 6 months of 2013, Summit
County is pacing ahead by
18% monetary ($347,333,700) and ahead 23% transaction wise (750).
·
Residential Market Sales by Price Point : Residential volume in June
had 110 transactions with $53,797,000 gross volume. There
were 13 properties that sold for $1M and above in June. The
most active price points in June were between $200k-$300k. June had 40
Single Family 70 Multi-Family and 12 Vacant Land
transactions.
·
2013 Average Price History: Average Residential pricing for Single family is $770,123
YTD, Multi- family is $337,582 YTD and Vacant Land is $306,297
YTD.
·
Historical Cost Breakdown 2013 ( 6 months): There were 601 residential transactions so far
in 2013 and $304,101,400 gross volume with 51 properties $1M and
over. YTD 2012, there were 488 transactions and $252,568,700
gross volume, 37 properties at $1M and over and YTD 2011,
there were 469 transactions with $259,682,100 gross
volume, 54 properties at $1M and over. Both number of
Residential transactions and monetary volume indicate an upswing in our local
real estate market!
·
Top Lender Graph: Lender activity was active in June
with 529 Deeds of Trust recorded, in the sales transaction category: 621 had
financing at the time of sale while 39% of the Sales closed for cash.
Refi's held steady in June with 238 transactions and
there were 205 Timeshare transactions.
·
Market Highlights: Please see page 10 of the Market
Analysis- this also shows the Bank Sales from June 2013.
·
Bank Sales and Foreclosures: Foreclosure actions continue to decrease again with 20
foreclosure actions in June as compared to 34 in June 2012. YTD there
have only been 140 foreclosure actions filed. There were 5 Bank Sales
in June.
·
Land Title Purchaser Highlights ( Page 15): A majority of our second homeowners for
real estate transactions continue to be the Front Range Demographic at 39% of
our market and 32% are Out of State buyers YTD.
As always, feel free to contact 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"