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
August 2013 Highlights:
· Market Analysis by Area for August: August was an incredible month for
real estate transactions and monetary volume in Summit County
· Year to Date by Area ( 8 months): The third quarter of 2013 continues to be
very positive. There have been 1121 real estate transactions to date, and
$521,770,800 gross volume. The average transaction price YTD: $472,487, average
residential Price YTD: $502,312, median residential price YTD: $380,000 and
average residential PPSF YTD: $296. 39% of all the real estate
transactions are in between the Farmer's Corner to Blue River
· Market Snapshot YTD ( 8 months ) for
2013: Values are showing a stable
trend with the average
single family at a 1% increase ($770,858 YTD August from
full year 2012 $764,455) and multi-family decreased again
as August YTD 2013 at -3% ( $342,417 in August
YTD from full year $353,339). Vacant land also holds steady with a
12% increase ($347,101 YTD August 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% (
all the same as July except single family).
· Market Analysis % Change showing years 2004-2012: August monetary volume
($105,465,200) was up 53% from August 2012. Transactions
are also up by 36% from August 2012 (216). Overall, for
the past 8 months of 2013, Summit
County
· Residential Market Sales by Price Point : Residential volume in August
had 181 transactions with $89,146,900 gross volume. There
were 16 properties that sold for $1M and above in August. The
most active price points in August were up a bit from July and the
other 2013 months with the majority between
$300k-$400k. August had 63 single family, 118
multi-family and 10 vacant land transactions.
· 2013 Average Price History: Average residential pricing for single family is $770,858
YTD, multi- family is $342,417 YTD and vacant land is $347,101
YTD.
· Historical Cost Breakdown 2013 ( 8 months): There were 903 residential transactions so far
in 2013 and $453,587,400 gross volume with 76 properties $1M and
over. YTD 2012, there were 716 transactions and $365,285,000
gross volume, 56 properties at $1M and over and YTD 2011,
there were 670 transactions with $353,536,800 gross
volume, 67 properties at $1M and over. Both number of
residential transactions and monetary volume in 2013 show an upswing in
our local real estate market.
· Top Lender Graph: Lender activity in August- 659
Deeds of Trust were recorded. There was a 62% loan to sales ratio this
month and 38% of the transactions were cash in August. There
were 212 REFI's and 314 loans related to Timeshares.
· Market Highlights: Please see page 10 of the Market
Analysis- this also shows the Bank Sale ( only one again) from August
2013.
· Bank Sales and Foreclosures: Foreclosure actions continue the decline, with a total
of 12 actions recorded in August 2013 as compared to 55
in August 2012. Overall, Summit County Foreclosure actions are the lowest
since 2009, when Land Title started tracking these transactions.
As always, 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)
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