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 Summit County
September 2013 Highlights:
·
Market Analysis by Area for September: September in Summit County
·
Year to Date by Area ( 9 months): The third quarter of 2013 continues to be
on the upswing from the past several years. There have been 1365 real
estate transactions to date, and $628,279,000 gross volume. The average
transaction price YTD: $466,668, average residential price YTD: $497,045,
median residential price YTD: $380,000 and average residential PPSF YTD:
$300. 40% of all the real estate transactions are in between the Farmer's
Corner to Blue River
·
Market Snapshot YTD ( 9 months ) for
2013: Prices
continue to stabilize with average
single family at a 1% decrease ($755,437 YTD September
from full year 2012 $764,455) and multi-family was down a little in
September YTD 2013 at -2% ( $345,573 in September YTD from
full year $353,339). Vacant land continues to increase with
a 6% increase ($328,417 YTD September 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 3% and vacant land down -15%.
·
Market Analysis % Change showing years 2004-2012: September monetary volume
($106,508,200) was up 21% from September 2012.
Transactions are also up by 54% from September 2012. Overall,
for the past 9 months of 2013, Summit County
·
Residential Market Sales by Price Point : Residential volume in September
had 201 transactions with $95,149,900 gross volume. There
were 13 properties that sold for $1M and above in September.
The most active price points in September were between $200K -$300K. September had 71
single family, 130 multi-family and 15 vacant land transactions.
·
2013 Average Price History: Average residential pricing for single family is
$755,437 YTD, multi- family is $345,573 YTD and vacant
land is $328,417 YTD. All of
the average residential prices are up in September 2013 from last month.
·
Historical Cost Breakdown 2013 ( 9 months): There were 1104 residential transactions so far
in 2013 and $548,737,300 gross volume with 89 properties $1M and
over. YTD 2012, there were 839 transactions and $441,357,700
gross volume, 74
properties at $1M and over and YTD 2011, there
were 811 transactions with $427,985,100 gross volume, 77 properties
at $1M and over.
·
Top Lender Graph: There were 468 loans in September. 58% of
sales had corresponding loans recorded at closing and 42% of the sales were
cash at closing. There were 151 REFI's and 175 loans related to Timeshares.
·
Bank Sales and Foreclosures: Foreclosure actions continue the decline, with a total
of 11 actions recorded in September 2013 as compared to 36 in
September 2012. There have only been 190 Foreclose actions recorded
through the 3rd Quarter for 2013 which is a level that predates the recession.
·
Land Title Purchaser Highlights ( Page 15): A majority of our second homeowners for
real estate transactions continue to be the Front Range
demographic at 398 of our market, only 27% 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
Broker Associate
Omni Real Estate Company
Office: 970-468-2740
Mobile: 970-409-7779
"Your Guide to Summit County Real Estate."
Certified Negotiation Expert (CNE)
Short Sale and Foreclosure Representative (SFR)
