Wednesday, July 24, 2013

June Market Analysis



 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.  
                                              
                                     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
Mobile: 970-409-7779    

       

“Your Guide to Summit County Real Estate"